Torrid summer boosts LSE September 29, 2011 LONDON Stock Exchange chief Xavier Rolet highlighted the group’s diversification agenda yesterday as he said equity trading volumes were up 12 per cent due to the market turmoil over the past five months. The LSE Group made £190.2m in revenues in the three months to the end of June, 14 per cent higher than a [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 16, 2011 FINANCIAL TIMES CHOPPY MARKETS THREATEN EMI SALE Turbulent financing markets could derail Citigroup’s attempt to sell EMI, according to people close to the $3bn-plus auction who warned that the US bank could abandon the sale if it cannot squeeze higher offers from bidders. The bidding process remains fluid, with Citigroup expected to decide within two [...]
REUTERS HQ FOR SALE AS PART OF £1BN LONDON PROPERTY DISPOSAL September 7, 2011 Thomson Reuters’ headquarters in Canary Wharf, Olswang’s Holborn office and Deutsche Bank’s Winchester House site are among the properties being put on the market by German real estate fund KanAm, the firm said yesterday. Knight Frank is thought to be handling the sale, which could bring as much as £1bn in total. The group abandoned [...]
HellermannTyton growing as private equity parent ponders exit strategy September 19, 2011 INDUSTRIAL group HellermannTyton is no closer to a sale despite its private equity owner appointing advisers last year. Doughty Hanson, which bought the cable clip and fixing manufacturer from telecommunications firm Spirent for £303m in 2006, is believed to have asked UBS to consider its disposal options. No deal is imminent but City A.M. understands [...]
BlackRock mulls takeover bid for Axa Private Equity September 29, 2011 BLACKROCK is among a host of global buyout funds considering a bid for the private equity arm of Axa. The world’s largest money manager by assets could make an offer of around £300m, but has not got as far as opening talks, City A.M. understands. French insurer Axa confirmed on Wednesday that it had begun [...]
Sportingbet soars as its profits jump October 5, 2011 ONLINE bookies Sportingbet saw its shares soar almost six per cent yesterday after its pre-tax profit soared from £6.9m last year to £23.8m. Revenues dropped slightly from £207.5 to £206.3m. The results were announced in the long shadow of Sportingbet’s long-mooted takeover by Ladbrokes, which the firm said is ongoing. Discussions over the possible sale [...]
Sage sells its health unit for $320m September 22, 2011 SAGE has agreed to sell its healthcare business to Vista Equity Partners for $320m (£207m). The software firm says it will return all of the proceeds to shareholders through a buyback scheme, adding that the move will enable it to focus on its core US customer base. It said yesterday it had reached a definitive [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 22, 2011 FINANCIAL TIMES BAIN PULLS OUT OF RAC AUCTION Bain Capital has pulled out of the bidding for RAC, the roadside rescue business of UK insurer Aviva. The US private equity group last week dropped out of the auction after bidding less than its rivals, people close to the situation said. That leaves Carlyle, Clayton Dubilier [...]
WHAT THE OTHER PAPERS SAY THIS MORNING May 22, 2011 FINANCIAL TIMES BAIN PULLS OUT OF RAC AUCTION Bain Capital has pulled out of the bidding for RAC, the roadside rescue business of UK insurer Aviva. The US private equity group last week dropped out of the auction after bidding less than its rivals, people close to the situation said. That leaves Carlyle, Clayton Dubilier [...]
Redrow profit tops forecasts September 8, 2011 Housebuilder Redrow has posted full-year pre-tax profit ahead of expectations, thanks to a ten per cent rise in selling prices, but warned the outlook for the property market is challenging. Redrow, one of the smaller listed volume housebuilders, made £25.3m pre-tax profit in the year to the end of June, compared with £0.7m in 2010 [...]