£2.3bn Aggreko takeover ‘in doubt’ after shareholder revolt April 21, 2021 The multi-billion pound takeover of FTSE 250 firm Aggreko has been thrust into uncertainty tonight after the company’s biggest shareholder said it would vote against the deal. Liontrust Asset Management, which owns 12 per cent of the energy provider, is set to oppose the deal, Sky News reported tonight. The news comes just a month [...]
Aggreko shareholders vote through £2.3bn takeover bid April 26, 2021 Aggreko shareholders have waved through the multi-billion pound takeover by private equity firms TDR Capital and I Squared Capital. In a statement the FTSE 250 firm said the deal had passed by the majority of scheme shareholders at both its court and general meetings held earlier today. It comes just a month after Aggreko said [...]
Issa brothers’ EG Group acquires UK’s second-largest bakery business October 4, 2021 Petrol station forecourt giant EG Group has acquired the country’s second-largest bakery business, Cooplands The Issa brothers’ firm has acquired CS Food Group Holdings Limited, which operates a number of bakeries that produce and distribute fresh food to some 180 stores and cafes. The bakery business mostly operates across the north-east and Yorkshire regions and [...]
Asda chief exec to step down following grocer’s £6.8bn sale to Issa Brothers March 18, 2021 Roger Burnley, the chief executive and president of Asda, will step down next year after the supermarket has transitioned to its new ownership, following its £6.8bn sale to the Issa Brothers and TDR Capital. A process to replace Burnley, who has held the top job at the supermarket for just over three years, is set [...]
Asda’s petrol station business sold to EG Group for £750m as part of takeover deal February 3, 2021 The Issa brothers and TDR Capital have announced that they will sell Asda’s petrol station business to EG Group, which they also own, for £750m after they complete their deal to buy the supermarket giant. The consortium announced this morning that the Asda deal is expected to complete later this month, subject to regulatory approval. [...]
Out with the old, in with the Issas: Asda execs quit as supermarket plots 230 petrol station stores September 3, 2021 In the first full quarter trading update since billionaire brothers Mohsin and Zuber Issa bought Asda for £6.8bn last year, the supermarket chain announced two more top executives were leaving, as it ramps up its petrol convenience store business. The UK’s third-largest supermarket today announced that both chief operating officer Anthony Hemmerdinger and chief strategy [...]
Mark Kleinman’s Column: Walgreens needs different prescription for future of Boots June 1, 2022 As an octogenarian with a literary penchant and more than half a century in business behind him, Stefano Pessina will be as aware as anyone of “time’s winged chariot hurrying near”. But is his sense of the passing of time in danger of impairing the judgement of the notoriously dogged and astute Italian dealmaker? The [...]
Senior staff to quit Asda after Walmart’s share payout April 12, 2021 Senior staff at Asda are preparing to stage an exodus after receiving final payouts from a share scheme run by the supermarket’s owner Walmart. Industry sources said that they had been contacted by Asda executives looking to leave, according to the Times. One source said that the level of inquiries was much higher than normal [...]
Asda beats competitors to become fastest growing Big Four supermarket for first time in more than two years April 27, 2021 Asda beat its competitors to become the fastest growing of the biggest UK supermarkets for the first time in more than two years as consumers ventured further for their food shopping. The latest data showed Asda, which was recently sold by US retail giant Walmart to the Issa brothers and TDR Capital, increased its market [...]
Bidding war for Morrisons heats up as US private equity giant makes £7bn move August 20, 2021 A fresh £7bn bid for supermarket chain Morrisons has been put forward by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means [...]