Western Europe

Truell says government promised taper relief was permanent(2)

The former chairman of the BVCA Edmund Truell has claimed the government has reneged on its promise not to “snatch away” the taper relief on capital gains tax at 10 percent then Chancellor of the Exchequer Gordon Brown introduced in 1997.

21 Centrale, Quadriga team with trade to buy lingerie

The credit crunch is causing firms to work in partnerships with other bidders even in the lower mid-market.

Hands growls at mega buyout demise(2)

Terra Firma founder and former banker Guy Hands has said bankers are “whimpering dogs”, who will need to be enticed from their baskets after the credit crunch.

Three Delta drops Sainsbury’s bid after Qatari talks(3)

Three Delta has withdrawn its bid for Sainsbury’s citing the problems in the credit markets and an equity increase demanded by the UK supermarket’s pension trustees.

Bush administration to veto carry tax bill(2)

The White House has indicated that, if passed by the US Senate, it would veto a bill passed today by the House of Representatives. Cerberus Capital Management’s John Snow has also attacked the bill, which aims to raise revenue with measures including increasing the tax on carry.

West LB syndicates £225m of Islamic Aston Martin debt

The largest Islamically funded leveraged buyout debt in the UK has been syndicated by German bank West LB to investors in the Middle East, some of whom do not participate in Western market debt syndication for religious reasons.

Octopus and Foresight make 4.4x return from outsourcing company(2)

Octopus Private Equity and Foresight Group, the small and medium enterprise investors, have sold their controlling stakes in outsourcing company Covion Holdings with an 84 percent internal rate of return over two and a half years.

Three Delta returns to QIA for £500m equity in Sainsbury’s bid(4)

Specialist acquisition firm Three Delta’s bid for Sainsbury’s awaits an 8 November deadline as its talks with the supermarket’s pension trustees near completion.

Milestone puts difficulties behind it with latest recruit(3)

Milestone Capital Partners is continuing its rebound with the recruitment of mid-market buyout veteran Philip Conboy as it looks to raise money for its fourth fund.

JC Flowers bids $1.8bn for Shinsei stake(2)

The private equity firm that made its name turning around the Japanese bank has returned to bail out a beleaguered Shinsei with the largest-ever private equity deal in the Japanese banking sector.