Western Europe

Blackstone enters pole position in Close bidding

The US investment firm is the most prominent interested party in the bidding for UK investment bank Close Brothers and it is reportedly lining up a quick sale of the bank’s assets upon acquisition.

CVC in $750m Taiwanese window deal(2)

CVC Asia Pacific added a $200 million mainland blind manufacturing business to its basket before closing the $750 million deal for shutter manufacturer Nien Made.

Pension Corporation postpones Telent bid for a week(3)

Edmund Truell’s Pension Corporation has postponed its bid for ex-Marconi Telent by a week in response to the appointment of three independent trustees to the company’s pension board by the Pensions Regulator.

Lightyear lines up Lloyd’s membership for its first UK acquisition(4)

Lightyear Capital has acquired the UK operations of German insurance company Württembergische Versicherung, after ensuring the company could become a member of Lloyd’s of London.

Gresham to profit from UK hunger for pasties(4)

Gresham, the UK mid-market buyout firm, has bought the West Cornwall Pasty company, banking on the Cornish snack’s durability in an economic downturn.

Index banks on the weather(2)

Index Ventures and New Enterprise Associates are backing a website that allows companies to hedge their exposure to the weather. In the US alone £3.8 trillion is at risk, according to estimates.

Investors flock to Wendel’s €1bn float of consultancy(4)

Wendel, the French investment company, has partially floated industry standards consultancy Bureau Veritas, although it retains a majority stake. The float was ten times oversubscribed.

Edmond de Rothschild, 3i acquire hotel website(3)

Through the purchase of website FastBooking, two private equity firms are looking to take advantage of the growing trend of internet booking.

Permira turns sights on gaming growth in China(3)

The global buyout group, whose name means "surprisingly different", has made its first investment in China taking a non-control stake in Galaxy, a casino operator, to fund an ambitious programme of property development and expansion.

Alchemy acquires fibre optic company

The UK mid-market firm has bought Geo, a company the firm’s founder John Moulton describes as unique in a sector of imitators.