Western Europe

Bridgepoint cleared for landing at Leeds-Bradford

Buyout firm Bridgepoint Capital has emerged as the preferred bidder for UK-based Leeds Bradford Airport. Its offer, which according to reports is worth about £130 million, has trumped that of four other bidders.

Another twist in Altadis takeover

Altadis, the Spanish cigarette maker that CVC, PAI and Cinven are stalking, has reportedly met with Imperial Tobacco to re-think a takeover by the UK trade buyer.

Sainsbury’s faces fresh takeover interest

Three Delta, a Qatar-based investment group, has bought a 15 percent stake in UK retailer Sainsbury’s, increasing the pressure on the board to realise greater value from its real estate assets.

Triago hires Dubai head

Placement agent Triago Group has recruited Jean Aboumrad as head of its newly launched Dubai office.

CVC admits defeat on Sainsbury bid

The Sainsbury family seems to have triumphed in its bid to keep the UK retailer out of private equity hands, after the last remaining members of the buyout consortium admitted defeat in their battle to take the company private.

TVM Capital invests $32m in two deals

Venture capital firm TVM Capital has backed two firms in the space of a week, investing $20 million in a UK submarine company and $12 million in a US-based media services group.

Blackstone cedes La Tasca to Tchenguiz

The Blackstone Group has admitted defeat in its attempt to buy La Tasca, a UK tapas chain, after property investor Robert Tchenguiz bought up a blocking stake and trumped its bid for a second time.

Bank of England wary of increased risk-taking

The Bank of England’s monthly financial stability report has warned that the recent meltdown in the US sub-prime mortgage sector could be repeated in the UK, as leveraged lenders exploit the benign economic conditions to increase their risk-taking.

ECI does two deals in two days

UK mid-market firm ECI Partners has sold Nuaire, a UK manufacturer of ventilation systems, to Electra Partners, generating an internal rate of return of 80 percent. It has also bought CliniSys, a provider of healthcare software, for £61 million.

Apollo buys $1.5bn Xstrata division

US buyout firm Apollo Management has continued its recent spate of activity by agreeing a $1.5 billion deal for the aluminium business of Xstrata, an Anglo-Swiss mining group.