Small businesses will be collateral damage in Corbyn’s war against the rich May 23, 2019 A new word was coined earlier this month. Joining the terms “Brexit” and “omnishambles” in the English lexicon, we now have “Corbygeddon” to describe the abject fear of a hard-left Labour government led by Jeremy Corbyn, that’s set to drive the uber-wealthy (or at least a proportion of their assets) out of the country in [...]
Pret A Manger eats Eat but vows to go veggie in new stores May 22, 2019 Sandwich chain Pret A Manger said today it has agreed to buy rival British chain Eat. Pret plans to convert as many of Eat’s shops as possible to Pret stores serving vegetarian food in response to what it said was a growing consumer demand for more vegan and vegetarian options on the high street. Pret’s chief [...]
Pret in talks to gobble up rival Eat as part of health-conscious expansion plan May 16, 2019 Sandwich chain Pret A Manger is in discussions to snap up rival food group Eat in a bid to create a swathe of vegan and vegetarian-friendly food outlets. Read more: Pret A Manger reveals latest plans to help London's homeless Pret is nearing a deal to buy most of Eat’s 94 outlets or the entire [...]
Magazine publisher TI Media taps media veteran Tim Weller as new chairman May 16, 2019 The magazine publisher behind Horse & Hound and Country Life has appointed media veteran Tim Weller as its new chairman. Read more: Trump pardons fraudster media mogul Conrad Black City PM understands Weller, a prolific media entrepreneur, has joined TI Media, which is the UK’s biggest consumer magazine publisher The media boss has been recruited by Epiris, [...]
Private equity owner of NSO Group pledges privacy crack down after Whatsapp hack May 15, 2019 Novalpina Capital, which owns a large stake in Israeli spyware firm NSO Group – whose technology was used to hack Whatsapp – has promised to crack down on the company’s approach to privacy. The UK private equity fund said it would bring the company in line with UN privacy principles and reform its governance to [...]
Trainline owner mulls £1bn sale as IPO plans build up head of steam May 15, 2019 The owner of ticketing firm Trainline is reportedly exploring a sale of the company alongside plans for a £1bn stock market listing. Read more: UK's biggest travel booking app Trainline considers £1bn flotation US investment giant KKR, which has owned Trainline since 2015, has approached a number of private equity groups to gauge interest in [...]
Walmart mulls Asda IPO after Sainsbury’s merger blocked May 15, 2019 Retail giant Walmart has said it is considering a stock market listing for Asda, just weeks after the supermarket’s failed attempt to merge with rival Sainsbury’s. Walmart International boss Judith McKenna said the US chain is considering an initial public offering (IPO) for its UK subsidiary, but said it was “not rushing into anything”. Read [...]
Inmarsat shareholders approve $3.4bn private equity takeover deal May 10, 2019 Inmarsat’s shareholders approved a $3.4bn (£2.58bn) private equity takeover today despite 21 per cent of investors attempting to vote down the deal. Read more: Inmarsat profit falls ahead of $3.4bn takeover The takeover of the British satellite operator is the second largest public-to-private deal ever in the UK, bringing an end to talks that began [...]
Apollo Global Management scraps partnership status to become a corporation May 2, 2019 Apollo Global Management has announced that it is scrapping its partnership status to become a corporation, following similar moves by private equity rivals Blackstone and KKR. The conversion, which is expected to become effective in the third quarter of this year, will see the investment company paying more corporate tax under a simplified structure, which [...]
Private equity firm Cinven raises €10bn for latest buyout fund May 2, 2019 Cinven, the private equity owner of fashion giant Kurt Geiger, has raised €10bn (£8.59bn) for its latest buyout fund in less than four months. More than 180 investors from 30 countries took part in the fundraise, and the launch saw “significant support” from long-term investors. Read more: Shoe fits for Cinven as it takes home [...]
