In an announcement Thursday, Ithaca reported that it had struck a conclusive deal by which it would acquire some UK North Sea gas assets from GDF SUEZ E&P UK Ltd. The deal will see GDF SUEZ sell the assets at a consideration of £11.25 million.
In a move that could land the ownership of Liverpool Football Club in Chinese hands, Chinese investors led by Kenny Huang are keen on acquiring the cash strapped club. Huang is one of the many potential investors keen on taking over the British club and he is expected to launch his offer via QSL Sports Ltd, the Hong Kong headquartered Investment Company.
IMImobile Tuesday announced that it had upped its stake to 50.26% in WIN Plc. The mobile value added services company said it had reached a conclusive agreement with Win Plc for the stake hike, while at the same time, its rival in the race for the WIN Plc stake acquisition, ECI Partners announced that it was quitting and will not be making any further moves as regards WIN Plc.
Reports emerged Sunday that the sovereign wealth fund from the Middle East, the Abu Dhabi Investment Authority will be biding together with Morgan Stanley and 3i, a private equity firm, for the high speed railway contract expected to link London with the Channel Tunnel. According to Abu Dhabi’s National newspaper, credited with the report, the sovereign wealth fund had agreed to join the other two investors in the contract for London’s mega transport infrastructure project.
In a deal pegged at a staggering $9.1 billion, Asian tycoon, Li Ka-shing reached an agreement for the purchase of three power grids from Electricite de France SA in the UK. The acquisition investment makes Ka-shing one of the largest owners of Britain’s infrastructure. The tycoon has other assortment of assets from Port of Felixstowe to Cambridge Water and the closure of the new deal takes his worth a notch higher.
Reports emerged Thursday that British Oil and Gas giant, BP Plc, is in talks with Indian companies Reliance Industries and the Essar Oil over a potential sale of its assets in Africa. BP’s assets in Africa are estimated to be pegged at about $500 million, and the sale is in line with the company’s strategy that seeks to sell about $30 billion worth of assets in the next 18 months to enable it cover the costs of the Gulf of Mexico Oil spill crisis.
Indian real estate giant, Unitech announced that it had made an offer for its UK based arm, Unitech Corporate Parks (UCP) in an all cash agreement. The Indian realty major said Wednesday it had offered Rs 700 crore for its London Stock Exchange Listed arm, and that the offer is about 22% higher than the UCP’s current market valuation.
In an announcement Wednesday, the London Stock exchange listed insurance firm, Brit Insurance, reported that Apollo Management had upped its offer for the potential take over of the insurer. In the announcement, the insurance revealed that the offer for its take over had been upped to 10.75 pounds per share subsequently pegging the value of the insurer at about 850 million pounds.
Tomkins PLC’s board Tuesday came out strong in support of the takeover offer from Onex and the Canada Pension Investment Plan Board. Tomkins PLC, the UK based engineering and manufacturing firm had received an offer of £2.87 billion from the two companies in a takeover move. The board said it was backing the takeover by Onex Corp, a private equity firm and the Canadian fund.
Reports emerged last week that the Royal Bank of Scotland (RBS) had gone into talks that could see it sell its business, WorldPay. According to the reports, the bank is believed to have gone into talks with Advent International and Bain Capital over the sale of its renowned money processing arm, WorldPay. The company went into exclusive talks with the two potential buyers of WorldPay and is believed to have given them about a week’s time to complete the deal.
British health and fitness chain, Virgin Active could be mulling a possible sale of its business. The Richard Branson majority owned company is reported to be in talks with potential private equity firms that might buy the business at an estimated £1 billion.
Korea National Oil Corp Friday announced it had raised its bid for the purchase of the British Oil exploration company, Dana Petroleum. According to company reports, Korea National Oil had raised the offer it made last week for Dana Petroleum that was pegged at £1.67 billion.
Spanish banking giant Santander is mulling a possible listing in the London Stock Exchange to raise about £3 billion capital. Reports have emerged that the bank could list its UK banking business to raise the capital for further investments. It is thought that Santander is considering a listing of about 20% of its UK banking business to raise capital aimed at new acquisitions.
In a move to raise compensation funds for victims of its Gulf of Mexico crisis, BP PLC agreed to an asset sale pegged at $7 billion. The move comes after weeks of endless speculation over a potential stake sale by the British oil giant. Previously, BP had promised to raise about $10 billion through an asset sale as part of funds to be used in its compensation kitty as demanded by the Obama administration. The company announced Tuesday that it has agreed to sell its properties to Apache Corp., an American company.
Chapco Group, the fabric maintenance and FM business Monday announced it had received a £5 million investment capital funding from Next Wave Partners. The funding from the growth capital equity firm, Next Wave Partners, is expected to give it a considerable minority stake in the Chapco business in return. Chapco said in a statement that it plans to use the funding extensively to fund its vital growth opportunities as well as enable it make investment acquisitions for other companies in the sector.
ECI Partners Monday made a counter bid for WIN Plc in a move expected to challenge the earlier bid made by Indian firm IMImobile. ECI Partners, the UK headquartered buyout company reported it made an offer for the takeover of the London Stock Exchange Listed company WIN Plc whose main business is mobile applications.
Nippon Telegraph and Telephone (NTT), the Japanese telecommunications major reported that it concluded talks for the acquisition of Dimension Data, the UK based information technology (IT) company. In its announcement, the Japanese telecommunications provider will pay a staggering £2.1 billion for the acquisition of Dimension Data, with NTT paying the amount in cash, subsequently marking a positive move in its planned expansion of its global business and corporate customer base.
British Healthcare services provider, Healthcare Locum announced Friday that it successfully taken over Orion, a specialist nursing and healthcare company. The investment deal will see Locum acquire all of Orion’s share capital, inclusive of the company’s business, LML Ltd’s, a staffing company assets and Redwood Health Ltd, a specialist nursing locum placement market will contribute to the takeover bid via about 11 million pounds funding.
The UK’s biggest letting agent and property services group, Countrywide, Wednesday reported its continued expansion through investments via the investment acquisition of Letmore Group. Letmore Group is the UK’s biggest independent specialist lettings agency with operations in East London and Essex. The Letmore Group, began in 1999, was the result of a merger by three letting companies namely PMS Lettings & Management Services, Forest Bureau and Churchill Lettings.
Oneworld companies British Airways (BA), American Airlines and Iberia Wednesday reported the successful win of approval from the European Union antitrust clearance for a go ahead in their investment pact plans after the three airline companies agreed to give up certain lucrative transatlantic routes.
Monitise PLC, the UK mobile banking services provider Tuesday announced it plans to raise 32 million pounds via equity offering, and reported that it had as well extended its Global Alliance Agreement with Visa Inc. by a year to 2015. In its plans, Monitise intends to raise the 32 million pounds via placing new shares at 20.75 pence per share issue price. The tabulation gives the company a 1.2% discount to the mid market’s 21 pence share price today.
Reports emerged Sunday that BP PLC might be in talks for the sale of about $12 billion worth of its assets to Apache Corp., a US based Oil Company. However, the British oil giant declined to comment on the reports, which indicated the sale might include BP’s stake in Prudhoe Bay oil fields in the state of Alaska.
According to the latest data released by CB Richard Ellis (CBRE) and Property Data, the UK’s retail real estate investments topped £3.7 billion. This represents the cumulative amount of investments into the sector in the first quarter of this year; marking a 15% increase over last year’s during the same period.
Toll Holdings Ltd, a transport and logistics company Friday announced it plans to enhance its European operations through investment acquisition of two UK based freight forwarding companies. From the announcement, Toll Holdings will takeover WT Sea Air Group (WP) and Genesis Forwarding Group, reiterating that the investment will cost the company an estimated combined purchase price of about $150 million.