UK-based FirstGroup said no to the proposal of hedge fund Sandell Asset Management to split the company and sell assets, saying the plan contained a number of structural flaws and inaccuracies, a Bloomberg report said.
United Kingdom
IPOs oversease do not work long-term as people buy domestic - TVM Capital MENA chief
TVM Capital MENA chairman and chief executive officer Dr Helmut Schuehsler offered words of caution to companies in the Gulf region who decides to get listed on foreign exchanges.
Ernst & Young director approves Bitcoin, says has potential to be a game-changer
EY director Colin Pickard said Bitcoin has the potential to be a game changer in the financial services industry as long as governments start regulating the digital currency.
Private equity firm Actis divests stake in Sterling Hospital to Chairman Girish Patel
Actis, a private equity firm based in the UK, is to sell its 82% stake in India-based Sterling Hospital to Addlife Investments Pvt Ltd, the private equity firm promoted by Girish Patel.
Pearson fund invests in India-based education startup
UK-based investment fund Pearson Affordable Learning Fund has backed Delhi-based education startup Avanti Learning Centres to develop a system that will help students from low-income families prepare for college entrance tests.
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Cloud-based data management startup Rosslyn Analytics raised £2.1 million in a funding round joined by Amati Global Partners and IQ Capital. Rosslyn also eyes a listing on AIM early next year.
London-based broadcaster ITV Plc has sold its remaining 6.79% stake in Scotland-based broadcaster STV for £7.5 million, severing a shareholder relationship that goes back to the 1990s.
A Financial Times report said activist investor Sandell Asset Management has written a letter to UK transport group FirstGroup to sell its US businesses so it can pay down debt.
Lakshmi Mittal, chief executive officer of ArcelorMittal, is negotiating with infrastructure company GMR Group to acquire a stake in Delhi Daredevils. The cricket team plays in the Indian Premier League.
HSBC Holdings PLC has put up for sale its 8% stake in Bank of Shanghai Co. HSBC sold its holding in the Chinese bank to Spain's Santandar SA for an undisclosed sum.
Blackstone Group, the largest real estate private equity firm, recently said that it targets more real estate acquisitions in Asia. It has invested USD3 billion in the region since making its first deal in 2007.
Tomkins Ltd. has began the process for an exit deal that could bring in at least USD6 billion to the British manufacturer. It reportedly hired Goldman Sachs Group to advise on its proposed sale or listing.
SHIFT, an open marketing cloud provider, recently raised USD6 million in its Series B investment round. The proceeds from the funding round will go towards its international expansion plans.
Thomas Moore of Standard Life Investments has increased his fund's holdings in UK companies, betting that they will give better payouts in 2014, a Bloomberg report said.
