Brexit uncertainty sparks public to private takeover trend February 27, 2019 Brexit uncertainty has sparked private equity fund interest in UK take-private transactions, new research shows. Of the 42 firm offers for UK public companies last year 31 per cent were made by private equity, analysis by investment bank Jefferies shows. Read more: Why tech startups are snubbing IPOs Public to private deals completed in 2018 [...]
Tech startups remain private for longer leading to high valuation IPO pipeline February 26, 2019 Technology startup companies are choosing to remain private for longer due to the availability of capital from private equity and venture capital investors, creating a pipeline of high-value listings expected this year. The median age of venture capital backed technology companies at the time of IPO has risen from 10.9 years in 2018 from 7.9 [...]
US alternative asset management firm Ares to lend £1bn to Daisy Group for minority investor buyout February 26, 2019 US asset management firm Ares will invest more than £1bn in business telecoms firm Daisy Group to allow the firm's founder Matthew Riley to buy out a minority investor. The investment will also be used to refinance the company’s existing credit facilities, and will support the firm’s future growth plans. Read more: Daisy calls FTSE [...]
Half of women in private equity considering leaving industry, survey says February 25, 2019 Half of women working in private equity would consider leaving the industry compared to 22 per cent of men, new research into diversity in the workplace has found. When asked whether they are considering leaving their firm in the next two years, 33 per cent of women said they were, however, only 19 per cent of [...]
Private equity player KKR reportedly circling Asda following Sainsbury’s deal setback February 24, 2019 US private equity house KKR is reportedly mulling a bid for Asda after a ruling last week by the competition regulator that could stymie its proposed tie-up with fellow big four supermarket Sainsbury’s. The Competition and Markets Authority (CMA) said last week that a deal between the two supermarkets could lead to "a substantial lessening [...]
Berry Global gets deadline to hijack Apollo’s RPC Group takeover February 19, 2019 Berry Global, the US firm trying to hijack an agreed £3.3bn takeover of plastic packaging giant RPC Group, has been given a 13 March deadline to announce a concrete intention to make a counter offer. RPC accepted an offer in January by private equity firm Apollo Global Management after months of negotiations. But Berry, another [...]
Citigroup closes in on £1.2bn purchase of Canary Wharf headquarters February 17, 2019 Citigroup is in talks to buy its Canary Wharf headquarters for a reported £1.2bn in a major show of confidence in London’s status as a global financial centre. Citi is looking to secure the purchase of the 25 Canada Square skyscraper, which it currently leases, from owner AGC Equity Partners in a bid to double [...]
Patisserie Holdings sells Baker & Spice for £2.5m February 15, 2019 Patisserie Holdings has sold its Baker & Spice brand for £2.5m, in a disposal that comes hours after the embattled cake chain offloaded its 117 Patisserie Valerie and Philpotts stores for £13m. In a statement this morning the embattled cake chain said that Baker & Spice, a deli and bakery chain which belonged to Patisserie Holdings [...]
Mark Kleinman: Aviva’s missed deadline ensures brickbats February 15, 2019 Viva Aviva? For such a stalwart of blue-chip boardrooms, Sir Adrian Montague suddenly can’t put a foot right. Four years after taking over the chairmanship of Aviva when John McFarlane scuttled off to Barclays, he’s ended up in a rather large pickle of his own making. Sacking Mark Wilson as the insurer’s chief executive last [...]
Patisserie Valerie wins rescue backing from private equity firm February 14, 2019 Scandal-hit Patisserie Valerie has been rescued in a £13m management buyout backed by Irish private equity firm Causeway Capital Partners. The cake chain confirmed this morning that Causeway Capital Partners had struck a deal with Patisserie Valerie's administrators in a move that is set to save 2,000 jobs and 96 of the firm's remaining branches. Retail and [...]