Apax Partners related stories
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Government retains 18% CGT above £1mSME entrepreneurs have benefitted from the retention of taper relief on capital gains of up to £1 million. But industry body the BVCA argues the 18 percent flat rate will make the UK less competitive.
- UK government defends 18% CGT reforms
The UK government has signalled it will not change plans to introduce a flat rate of capital gains tax despite widespread criticism of the reforms. Tomorrow, the Treasury Select Committee re-opens its investigation of private equity.
- Apax looks to China for management company investment(2)
The head of European buyout firm Apax Partners, Martin Halusa, has visited China in an attempt to secure backing from the government’s sovereign wealth fund.
- Hopes of LBO revival as Cinven makes Emap bid(3)
European buyout firm Cinven’s £2 billion bid for two divisions of media group Emap is the second largest new offer since debt market turmoil decimated the market for leveraged loans.
- Study finds buyouts boost jobs
The Private Equity Council has released a report that contradicts an academic study set to be presented at the Davos summit next week.
- PennSERS names Winchester CIO
The Pennsylvania State Employees’ Retirement System has named two longtime staffers, John Winchester and Leonard Knepp, as the pension’s new chief investment officer and executive director.
- Cohen attacks CGT rate for entrepreneurs
The Apax co-founder, who called for an increase in tax on buyouts, has learned you should be careful what you wish for as the CGT increase has hit entrepreneurs.
- Iberia financing nearly in place
The TPG Capital-BA consortium has secured a team of banks to underwrite its bid for Spanish airline Iberia, after the chief executive of the UK airline Willie Walsh said the bid would be tabled within four to six weeks.
- Branson says no to 18% CGT, extend holding time
Sir Richard Branson, the founder of UK business Virgin Group, has called for the UK Chancellor Alistair Darling to ditch plans to remove “taper-relief” on capital gains. Branson joins a widespread group of protesters against the reforms.
- Buyout firms balk at Emap pricing
Trade buyer H Bauer scooped the consumer magazine and radio business divisions of Emap at an 11.2 times profit multiple for £1.14 billion, leaving buyout firms empty-handed.