Western Europe

UK head leaves EMI

As Terra Firma’s plans for music group EMI develop a third senior executive departs the business. Guy Hands has pledged to cut costs and develop new revenue streams for the beleaguered music company.

Olivant fleshes Rock plans, Flowers draws line

The former Goldman Sachs financier Christopher Flowers’ firm has decided not to change his offer in the face of an intransigent Northern Rock board. Olivant's bid will allow existing shareholders to take part.

Hermes Private Equity buys food brands(4)

The UK mid-market firm has acquired the manufacturer of TV celebrity chef Ainsley Harriott's branded food products installing a new management team to grow the business.

Advent lands first UK PTP since credit crunch(3)

European buyout firm Advent International has bought domestic goods insurer Domestic & General in one of the first public to private deals since problems in the debt markets began.

Citi-backed Spanish consortium unveils plans for Iberia

A consortium including Spanish billionaires and regional bank BBK has tabled a bid for national airline Iberia which could cause problems for the TPG-BA consortium’s rival bid.

Advent lands first UK PTP since credit crunch(2)

European buyout firm Advent International has bought domestic goods insurer Domestic & General in one of the first public to private deals since problems in the debt markets began.

HarbourVest fleshes plans for $828m fund listing

In a bid to woo investors, global fund of funds manager HarbourVest Partners has chosen a fee-free structure and is picking up the expenses for the fund offering, which will list next month 90 percent committed.

Buyouts break European record(2)

The industry is braced for a slow down as buyouts hit a European high in the first half of 2007. The second half looks more restrained after the banking liquidity crisis of the summer. Continental European deals were among the largest, said Tom Lamb, co-head Barclays Private Equity.

TPG-BA consortium walks away from Iberia

US buyout firm TPG Capital has abandoned its second bid for a national carrier this year, as the consortium it formed alongside UK airline British Airways has walked away from its bid for Spanish rival Iberia.

Moulton puts £12m into drugs clinic(2)

UK private equity contrarian Jon Moulton has personally funded a purpose-built private drug addiction treatment centre in Kent.