Western Europe

Standard Life executives take 40% control of fund of funds

UK insurer Standard Life has granted its fund of funds arm partial independence from the company, a year after former chief executive Jonny Maxwell resigned amid speculation that he wanted to spin out the arm.

Revised Flowers bid provides for Rock shareholders

The Flowers consortium is offering to pay back more of the UK Bank of England’s loan than the Virgin/WL Ross consortium’s bid preferred by Northern Rock’s board. UK Chancellor Alistair Darling is reportedly encouraging rival bids.

Government to block Lone Star KEB sale to HSBC(3)

Lone Star’s attempts to sell its controversial stake in Korea Exchange Bank are set to be delayed still further, just days after the firm’s office was raided by tax officials investigating its recent deals.

EMI chief quits as Terra Firma takes charge(2)

Two of the senior managers at EMI, the UK record company recently acquired by buyout firm Terra Firma, have stepped down ahead of its planned de-listing in September. They will be replaced by two representatives from the buyout firm.

EMI chief quits as Terra Firma takes charge

Two of the senior managers at EMI, the UK record company recently acquired by buyout firm Terra Firma, have stepped down ahead of its planned de-listing in September. They will be replaced by two representatives from the buyout firm.

Gresham achieves 4x money on Warings exit

The sale of the UK construction business after 10 years leaves the UK mid-market firm with one investment still in its second fund's portfolio. Gresham also bought Hotter, a shoe brand for senior citizens.

Debt financing holds firm for mid-market(3)

CIT Capital Finance has delivered financing for the Rutland Partners-led acquisition of Pulse Home Products while Electra Private Equity has carried out a third refinancing on Allflex.

KKR says IPO still on track(2)

KKR has refuted a UK media report that the buyout firm has postponed its planned $1.25 billion IPO on the New York Stock Exchange.

Texperts decides against VC

Texperts, an award-winning UK mobile information start-up, has chosen to take investment from hedge funds rather than venture capital firms as it gears up for expansion, on the grounds that the process required to secure VC funding was too time-consuming.

Pension Corporation postpones Telent bid for a week

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.