A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip or want to discuss a story please feel free to email Betaville at ben@betaville.co.uk.

Betaville Intelligence

UNCOOKED ALERT: Zenith Energy said to be working on an equity fundraising

Friday, 15 June 2018, 12:40 pm

Zenith Energy may be looking to raise up to £5 million.

Zenith, which has the largest onshore oilfield in Azerbaijan, is said to be working on an equity fundraising, according to sources claiming to be familiar with the matter.

It's thought the company is looking to raise fresh capital via a placing of new shares with investors at around 4p share, said these sources claiming to be familiar with the matter...

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Glass's Guide back on the block - sources

Thursday, 14 June 2018, 9:39 am

The company behind a guide book for second-hand car dealers is set to sold for £250 million by a secretive private lender.

City sources said Autovista, which owns the well-known Glass’s Guides, has been put on the block by Hayfin, a specialist debt investor.

Glass’s Guides is used by second-hand car dealers to check prices on used cars.

Advisors from American investment bank Houlihan Lokey have been drafted in by Hayfin to find a buyer for Autovista...

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Betaville Intelligence

RARE ALERT: Gatwick Gusher's £3.5 million equity fundraising said to be going ahead - sources

Wednesday, 13 June 2018, 3:27 pm

UK Oil & Gas is said to be close to launching its equity fundraising.

According to sources claiming to be familiar with the matter, the company - known as the Gatwick Gusher after it claimed in 2015 to have discovered as much as oil as there is in the North Sea near the London airport - is working on raising funds at around a 10pc discount to the current share price...

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Betaville Intelligence

RARE ALERT: Hennes & Mauritz said to ... part 2

Tuesday, 12 June 2018, 7:02 pm

It emerged today the billionaire chairman of Hennes & Mauritz has been selling a chunk of his stake in Hexagon, the Swedish measurement technology business.

Local media claim Steffan Persson (via his Ramsbury vehicle) has slotted around 4.2 million Hexagon shares in May, raising around 2 billion Swedish Kronas.

Meanwhile, shares in Hennes & Maurtiz - the beleguered fashion retailer founded by Persson's grandfather - jumped almost 5pc during the session...

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Betaville Intelligence

UNCOOKED ALERT: Boston Scientific Corporation said to ...

Monday, 11 June 2018, 9:54 am

Boston Scientific Corporation, the US medical devices maker, has come under the spotlight amid talk it is attracing takeover interest from a rival.

According to sources claiming to be familiar with the matter, a mystery suitor is said to be circling Boston Scientific.

One source claiming to be familiar with the matter suggested Boston Scientific may have already received a takeover proposal from a suitor...

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Dealmakers' favourite PEI Media set to be sold to Bridgepoint for £120 million

Friday, 8 June 2018, 1:35 pm

PEI Media - publisher of one of the journals read by many of the City's bankers, lawyers and buy-out barons - is about to be bought by Bridgepoint Development Capital for over £120 million.

According to sources familiar with the matter, a takeover of PEI Media by BDC could be announced in the next few days.

This would be the second (possibly third time) Betaville has broken a story about PEI Media since this website first started in 2014...

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REVEALED: Farmers Guardian set to be put on the block for £150 million - sources

Thursday, 7 June 2018, 9:28 am

The company that publishes the Farmers Guardian is set to be sold by it's private equtiy owners for up to £150 million.

Sources familiar with the matter said Lyceum Capital has hired advisers from Raymond James to find a buyer for AgriBriefing.

As well as publishing the Farmers Guardian, AgriBriefing creates and sells prices for eggs, red meat and animal feed.

The company also runs Britain's largest farm machinery and equipment show - Lamma...

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City dealmakers in row with the AA over Motoriety

Wednesday, 6 June 2018, 4:54 pm

Some of the City's top bankers, lawyers and industry executives have emerged as investors in a company whose founder is engaged in an almighty row with London-listed AA.

According to sources familiar with the matter, Giles Fitzpatrick, Michael Symons and Kevin Gaskell were seed investors in Motoriety, an app that links motorists to repair garages that was set up by entrepreneur Lucy Burnford...

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PM, Chancellor and Culture secretary make it down to Cavendish 30th...

Tuesday, 5 June 2018, 10:07 pm

Cabinet rows over Brexit failed to stop the very top echelons of government from attending Cavendish Corporate Finance's 30th birthday party tonight.

Theresa May, Prime Minister of the United Kingdom, Philip Hammond, Chancellor of the Exchequer, and Matt Hancock, Culture Secretary, all made it down to the shindig at Lancaster House, a neo classical mansion built for the second son of King George III in 1825...

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That RBS share sale...

Saturday, 2 June 2018, 4:43 pm

On Monday Sky News via the Kleinmanator bellowed the government was about to launch a sale of some of its stake in the dreaded Royal Bank of Scotland.

But nothing came, which was a surprise as the Kleinmanator is normally on the money.

So, what happened?

Well, the City Insider column in the yesterday's venerable Financial Times has a decent explanation. Below is a link in case you missed it:..

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A dealmaking conundrum...

Wednesday, 30 May 2018, 10:01 pm

It's busy in the M&A world. Perhaps the busiest it has ever been for dealmakers over the last decade in Britain.

But there is one thing gnawing away at Betaville: it's also extremely busy in the UK restructuring market, with CVAs, liquidations and administrations taking place across several sectors, such as leisure, retail and construction contracting...

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Betaville Intelligence

WELL-DONE ALERT: Reliance Worldwide Corporation said to ... part 2

Saturday, 26 May 2018, 11:25 am

There has been plenty of coverage about Wesfarmers/Bunnings disastrous acquisition of Homebase over the last couple of days - and how the Aussies tend to mess up major British acquisitions (think back to Slater & Gordon's £673 million purchase of Quindell).

But just as Homebase was being sold to Hilco for a £1 another Australian-listed company was quietly completing an audacious raid on a London-based business - John Guest, the widget manufacturer set up in 1961...

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[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].