Western Europe

Brown says he will close any PE tax loophole

The UK prime minister Gordon Brown has said he will close any tax loophole private equity enjoys, as the clearest sign so far that the UK government intends to change the carried interest tax relief enjoyed by buyout executives.

August plans building phase for 4Projects(3)

The UK mid-market buyout firm has completed its second deal this year, buying project management software business 4Projects.

Rutland makes 2.7 times return from pawnbroking(3)

Rutland has ended its three year investment in pawnbroking, making a 2.7 times return from the sale of Svensk Pantbelaning to Preato Capital a year after larger European business Harvey & Thompson was floated on AIM.

BC reaps bumper profit on Swiss hospitals(2)

The European buyout firm has sold Swiss private healthcare group Hirslanden after five years, as another South African hospital group looks abroad for expansion.

Boots second lien syndication postponed indefinitely

The underwriting banks syndicating the Alliance Boots debt package have pulled the second lien tranche of the debt package, just a week after they were forced to postpone syndication of the senior debt for the deal.

ECB issues additional €61bn to struggling markets

The European Central Bank has attempted to further calm the markets with a greater loan issuance today and it has been followed by the US Federal Reserve.

Duke Street fund breaks the €1 billion barrier

Duke Street Capital’s sixth fund has broken the €1 billion mark, providing some welcome news to the buyout firm after a summer where it has had to endure some negative coverage.

Buyouts break European record

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.

Campbell to become chairman if Three Delta triumphs, Mellor not involved(2)

Three Delta has confirmed Tony Campbell will become chairman of UK supermarket Sainsbury’s if its offer succeeds, although the Sainsbury family is reportedly set against the deal.

Great Circle buys $21.1m stake in Russian logistics firm(3)

Stamford, Connecticut-based Great Circle has made its second investment in Russia with the injection of $21.1 million of growth capital into logistics company STS Logistics.