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Transactions UK
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December 02, 2024
Broadband Biz To Sell Unit To PE Firm Salter For Up To $33M
U.K. internet provider Bigblu Broadband PLC said Monday it has agreed to sell its SkyMesh subsidiary indirectly to investment manager Salter Brothers, in a cash-and-share deal worth up to $50.2 million Australian dollars ($32.6 million).
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December 02, 2024
Vape Maker Brews Up Typhoo Tea Exit From Administration
Vape manufacturer Supreme PLC said Monday that it has bought Typhoo Tea, the 120-year-old drinks business, out of administration for £10.2 million ($13 million), a move the consumer goods business said will broaden its range of products.
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December 02, 2024
Software Biz K3 To Sell Unit To PE-Backed Co. For £36M
U.K. business software group K3 said Monday that it has agreed to sell subsidiary NexSys to Syspro for £36 million ($46 million) as the private equity-backed company aims to expand in the U.K. and Europe.
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November 29, 2024
US Firm Gathers Support For £351M Bid For Loungers
U.S. investment firm Fortress Investment Group LLC said Friday that its takeover bid of approximately £350.50 million ($447 million) for British hospitality chain Loungers has won support from another shareholder.
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November 29, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the National Crime Agency file a civil recovery order against a Chinese couple suspected of £29 billion ($37 billion) banking fraud, Norwich City FC of the second tier of English football hit two drinks companies with IP claims, and Owen Jones of the Guardian newspaper sue Telegraph columnist Allison Pearson for libel.
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November 29, 2024
Kirkland-Led Apollo Biz Makes £1B Offer For Auto Parts Maker
TI Fluid Systems said Friday that it has agreed to accept a takeover offer of just over £1 billion ($1.27 billion) from a Canadian rival, ABC Technologies, in a transaction guided by three law firms — Kirkland, Paul Weiss and Latham.
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November 29, 2024
Oz Biopharma Biz Argent To Exit London, Mulls US Listing
Argent Biopharma said on Friday it will become the latest company to leave the London Stock Exchange, as the drugmaker pointed to the financial and administrative costs associated with having a listing in the U.K.
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November 29, 2024
Apollo Accused Of Confidential Info Misuse In Wagamama Bid
Apollo Global Management is facing allegations in a London court that it misused an investment company's confidential information to mount an acquisition in 2023 of The Restaurant Group, the owner of Wagamama Asian food restaurants.
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November 29, 2024
Investment Firm Baker Steel To Sell Stake In Copper Mine
Natural resources investor Baker Steel said Friday that it has joined three other shareholders and agreed to sell 70.8% of their holdings in copper miner Nussir to Blue Moon Metals, a Canadian mineral explorer.
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November 29, 2024
Fund Vehicle Sells $173M Shares In UK Investment Platform
A vehicle controlled by investment firms Centerbridge and Gallatin has said it has sold its final stake in Phoenix Financial Ltd., a financial services and investment firm for consumers in the U.K., raising approximately $173 million.
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November 28, 2024
Jones Day-Led Loungers Backs £351M Fortress Takeover Bid
British hospitality chain Loungers said Thursday that it has agreed to accept a takeover offer of approximately £350.5 million ($444.5 million) from U.S. investment firm Fortress Investment Group LLC, which will remove the company from the London Stock Exchange.
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November 28, 2024
Miner Hummingbird Swaps $30M Loan For Equity, Quits LSE
Troubled gold miner Hummingbird said Thursday that it has agreed to transfer most of its equity to its lender and largest shareholder in exchange for a loan of $30 million, in a deal guided by Gowling WLG and Norton Rose Fulbright.
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November 28, 2024
Vacation Co. Denies Avoiding Wyndham Hotels' TM Royalties
A vacation group has denied that it is avoiding paying hotel chain operator Wyndham at least approximately $6.5 million a year in royalties and administration fees, claiming Wyndham knew that the group had no interest in using its trademarks.
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November 28, 2024
Former Finance Execs Must Pay £45M For Takeover Violations
The financial troubles of three former executives of MWB Group, an investment firm that has collapsed, does not preclude them from owing £44.8 million ($56.8 million) in compensation for violating the U.K. takeover rules by deceiving shareholders, a court ruled on Thursday.
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November 28, 2024
Asset Manager Liontrust Launches £5M Share Buyback
Liontrust Asset Management PLC launched a share buyback program Thursday worth up to £5 million ($6.3 million) aimed at lowering its outstanding share capital.
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November 28, 2024
Coventry's £780M Co-op Bank Deal Wins Regulatory Approval
Coventry Building Society said on Thursday that its £780 million ($990 million) buy-out of the Co-operative Bank will be finalized at the start of January after U.K. finance regulators approved the all-cash transaction.
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November 28, 2024
Slaughter And May-Led Direct Line Rejects £3.3B Aviva Bid
Direct Line has rebuffed rival Aviva's £3.3 billion ($4.2 billion) takeover offer, saying that it considers the "highly opportunistic" approach "substantially undervalued" the U.K. insurance company, which this year returned to profitability.
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November 28, 2024
FCA Reworks Plans To Name Firms Under Investigation
The Financial Conduct Authority issued "significant" revisions to controversial proposals for publicizing investigations of wrongdoing on Thursday, including a move to give businesses more time to make justifications to the watchdog before being named.
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November 27, 2024
Weil-Led Apse Capital Secures €350M For Continuation Fund
British private equity firm Apse Capital Ltd., led by Weil Gotshal & Manges LLP, on Wednesday announced that it closed a €350 million ($370.1 million) continuation fund, which will be used to acquire three portfolio companies from one of the firm's other funds.
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November 27, 2024
Just Eat To Take Away Its Listing From The LSE
Online food delivery service Just Eat said Wednesday that it will exit from the main market of the London Stock Exchange, citing the "complexity" and costs associated with being on the bourse.
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November 27, 2024
Miner Sells Further $529M Of Shares In Platinum Unit
British multinational mining giant Anglo American PLC said Wednesday that it has raised 9.6 billion South African rand ($529 million) by selling approximately an additional 6% of its platinum producing subsidiary as part of a separation process.
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November 27, 2024
JD Sports Completes €520M Deal For French Footwear Biz
JD Sports Fashion PLC said Wednesday that it has finalized the €520 million ($546 million) acquisition of French footwear company Groupe Courir SAS, after the European Union addressed competition concerns.
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November 27, 2024
Banco BPM Rejects UniCredit's €10B Takeover Offer
Italian lender Banco BPM SpA has rebuffed a €10 billion ($10.5 billion) offer from its domestic rival UniCredit SpA, a move that would create the country's biggest bank, stating that the bid fails to reflect its profitability and prospects.
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November 27, 2024
UK Court's National Security Decision Highlights M&A Risk
A court decision that compelled LetterOne, a Russian-backed investment firm, to sell a broadband provider highlights the regulatory risk posed to corporate dealmakers by the government's far-reaching national security discretion, including the costly prospect that they might have to unwind concluded transactions.
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November 27, 2024
Aston Martin Raises £210M After Profit Warning
Aston Martin said Wednesday that it has raised £210 million ($265 million) from investors to boost its liquidity after the sports car maker issued a profit warning amid a slowdown in its supply chain.