Kent Reliance confirms Flowers deal
12th Jul 2010 08:05
Building society Kent Reliance has confirmed talks are underway with US private equity firm JC Flowers, which intends to use it to create a new force in UK high street banking. Flowers will invest £50m for a 49% stake in a new holding company. Under the deal, the building society will remain a mutu
Read moreSunday newspaper round-up: BP, Lloyds, Daily Mail
11th Jul 2010 11:03
BP is in exclusive talks to sell up to $12bn (£8bn) of assets to Apache Corporation, an American rival, including a big stake in Alaska's Prudhoe Bay, the largest oil field in North America, the Sunday Times reports. Apache approached BP with the plan a few weeks ago. Negotiations are under way ove
Read morePermira Takes A Look At Vue Cinemas - Source
9th Jul 2010 17:10
By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--London-based buyout firm Permira is interested in buying Vue Entertainment, the cinema chain that forms part of the assets sold earlier this week by Lloyds Banking Group PLC (LYG) to Coller Capital, a person familiar with the situ
Read moreHydroDec: Lloyds Banking Holds No Voting Rights
9th Jul 2010 16:38
LONDON (Dow Jones)--HydroDec Group PLC (HYR.LN), said Friday that Lloyds Banking Group PLC (LLOY.LN), is no longer interested in the company's voting rights -Shares traded Friday at 8.88 pence, valuing the company at GBP27.10 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9
Read moreAshley House: Lloyds Banking Group Holds No Voting Rights
9th Jul 2010 16:29
LONDON (Dow Jones)--Ashley House PLC (ASH.LN), said Friday that Lloyds Banking Group PLC (LLOY.LN), was no longer interested in the company's voting rights. -Shares traded Friday at 37.0 pence, valuing the company at GBP20.59 million. -By Razak Musah Baba, Dow Jones Newswires; 44-20-7842-9
Read more2nd UPDATE: Care UK Plans Bond To Finance Bridgepoint Buyout
9th Jul 2010 15:38
(Adds lead managers.) By Michael Wilson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Care UK Health and Social Care PLC, the parent company of Care UK Limited, plans to sell GBP250 million of seven-year senior secured bonds to finance the acquisition of the company by private-equity compan
Read moreUPDATE: Care UK Plans Bond To Finance Bridgepoint Buyout
9th Jul 2010 11:01
(Adding roadshow timing, background.) By Michael Wilson Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Care UK Health and Social Care PLC, the parent company of Care UK Limited, plans to issue GBP250 million of seven-year senior secured bonds to finance the acquisition of the company by priv
Read moreFriday paper round-up: OBR, Pensions, British Airways
9th Jul 2010 06:35
The government's new tax and spending watchdog was plunged into fresh controversy last night after it was revealed that the Office for Budget Responsibility slashed its forecasts for expected job losses from George Osborne's austerity package in the days leading up to last month's budget, the Guardi
Read moreCORRECT: New Venture To Bid For UK Government Bank Assets -Report
8th Jul 2010 17:33
("New Venture To Bid For UK Government Bank Assets -Report," at 1032 GMT, misstated the nature of the likely bid in the first and third paragraph. The correct version follows:) LONDON (Dow Jones)--The chairman of Lloyd's of London together with the man who last year led a review of corporate go
Read moreIPO WATCH: Ocado, New UK Bank Investment Fund Stoke Interest
8th Jul 2010 17:02
By Margot Patrick Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Europe's market for initial public offerings was off to a slow start for the second half, as the approach of the traditional summer lull kept most potential issuers on the sidelines. Existing deals moving through the IPO proce
Read moreLondon close: Footsie powers forward
8th Jul 2010 16:59
Footsie's strong recovery continued for a third day with the blue chip index closing above 5,100 driven by buoyant financial services companies. The index is up by more than 300 points this week and to its highest in nine days. Growing optimism about the European bank stress tests and yesterday's
Read moreFTSE 100 movers: Banks move higher
8th Jul 2010 15:21
Financials are pushing Footsie higher. Growing optimism about the European bank stress tests and yesterday's forecast upgrade by American peer State Street had buyers all over Lloyds Banking, Royal Bank of Scotland and Barclays. All three banks will be stress tested by the EU. Royal Dutch Shell
Read moreLondon afternoon: Footsie on fire
8th Jul 2010 14:13
Bullish banks and rising commodity prices have sparked a fresh rally, taking this week's recovery near to 300 points and the leading index to its highest in nine days. Growing optimism about the European bank stress tests and yesterday's forecast upgrade by American peer State Street had buyers all
Read moreNew Bank Bid Vehicle To List On LSE In Weeks - Source
8th Jul 2010 12:48
By Marietta Cauchi Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Two city heavyweights are behind a new bank bid vehicle expected to list on the London Stock Exchange within weeks and buy up banking assets being sold by U.K. banks, a person familiar with the situation told Dow Jones Newswires
Read moreLondon midday: Banks buoyed by IMF report
8th Jul 2010 12:03
Leading shares resumed their upward trek late in the morning session, with banks leading the advance ahead of the announcement of the Bank of England's rate decision announcement. The Bank kept interest rates unchanged at 0.5%, as expected Buyers have been chasing bank prices higher after the Inter
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