Investment bank UBS AG has put up for sale its administrative services arm for employee equity plans to simplify its operations. Corporate Employees Financial Services International will be sold to Montagu Private Equity.
United Kingdom
European private equity firm CapVest acquires food business Scandza
Lond-based private equity firm CapVest has bought Scandza, a Nordic consumer food and beverage firm for an undisclosed amount. Jan Bodd and Stig Sunde, who founded Scandza in 2007 will still lead the company.
Quiet years leave European lenders with less experienced investment bankers- report
During the financial crisis when the deal markets were quiet, banks parted ways with their senior investment bankers. Now that business has slowly revived, lenders are seeing that they are left with junior bankers that are a little wet behind the ears.
Britain's Co-operative Bank and its parent Co-operative Group successfully completes raising £1 billion for its rescue plan
Co-operative Bank and its parent Co-operative Group on Friday announced that it had successfully completed raising £1 billion for its rescue plan. The British bank with raise about £500 million more from Co-op Group, its bondholders and its interest savings to complete its target fund of £1.5 billion.
UK engineering solutions provider Costain Group Plc exits its minority stake in three joint ventures to publicly traded water utility Severn Trent Plc
UK engineering solutions provider Costain Group Plc exited its minority stake in three joint ventures to publicly traded water utility Severn Trent Plc to raise investment funds and working capital.
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Ultra-deepwater excavation specialist Marin confirmed is to acquire Aberdeen, Scotland-based trenching solutions provider AGR Seabed Intervention for an undisclosed amount after a successful alliance between the two firms this year.
In response to investigations from regulatory authorities, the Royal Bank of Scotland has banned its markets division from using multi-dealer online chat rooms, Reuters reported.
Bristol-Myers Squibb is reportedly exiting its stake in a diabetes joint venture with AstraZeneca for $3 billion. Bristol-Myers shifted its focus from producing diabetes and hepatitis C treatment drugs to medicines harnessing the immune system to fight cancer.
The revival of initial public offerings in the US and Europe which started this year is set to continue next year, the Financial Times reported.
With the help of both public and private equity, the investments of Wellcome Trust was able to return 18% in the year that ended September 30, Bloomberg reported.
Hutchison Whampoa, a conglomerate controlled by Hong Kong tycoon Li Ka-shing has picked Bank of America Merrill Lynch, Goldman Sachs and HSBC to manage the proposed listing of A.S. Watson in Hong Kong and London.
The probe of the European Union involving an underwater power cable cartel is a test of the regulators' ability to penalize private equity investors and their parent firms, Bloomberg reported.
The National Audit Office, a government-spending watchdog, said taxpayers lost money in the government's share sale of Lloyds Banking Group and not a profit, Bloomberg reported.
Data published by the Council for Mortgage Lenders and the British Bankers' Association indicate a housing boom in London as compared to average house prices in all of Britain, according to The Financial Times.
