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 email@example.com.
There is an intriguing little diary piece in today's The Times about how a mystery property tycoon with a penchant for the Latin phrase Veni Vidi Vici has bought 200 copies of Oliver Shah's new tome about Sir Philip Green and is handing them out to friends, business acquaintances and colleagues.
Below is a link to Dom Walsh's City people diary column:..
Last month Betaville asked how much lower can Foxtons stock go after the shares hit an all time low of 57p.
Well, a lot lower it would seem: the estate agency's shares flirted with 47p today!
And sentiment could be about to get even worse in the London property market. Click on the link below tonight's FT piece:
So, today's business section of the Daily Mail appears to be echoing the theme Betaville has aired over the last week about a rekindling of China-backed dealmaking for European/British businesses. I have pasted the link below:..
Goldman Sachs this evening restricted its equity research team from publishing a rating on Capita, according to sources familiar with the situation.
It's well known the Wall Street bank has been advising Capita and its (newish) chief executive, Jon Lewis, on the company's £700 million rights issue and the £700 million disposal programme, including the recent sale of parking management company Parkingeye to Macquarie and MML Capital for £235 million...
I see Bacanora Minerals (or is it Lithium?) has finally confirmed the piece I wrote in The Sunday Times the other week about how a secretive Omani fund is in talks to take a stake in the company as part of a major equity and debt fundraising. Below are links to the original piece I wrote and also today's RNS confirmation...
REVEALED: David Cameron lined up for a senior role with ex Morgan Stanley banker's Greensill Capital - Part 2
Loyal readers might remember this website's recent scoop about the former PM potentially joining Lex Greensill's outfit: Greensill Capital (now rebranded as just Greensill). Below is a link to the piece:
Voila! Controversial Telit Communications has finally confirmed it has struck a deal to sell its automotive division for $105 million - $125 million. Below is the link:
Stefan Persson has reportedly denied any plans to take Hennes & Maurtiz private amid talk he has tapped up lenders for financing a buy-out.
Yet since the Swedish retail giant unveiled second quarter figures last month the billionaire has bought over $120 million worth of Hennes & Mauritz. This buying spree comes after Persson splurged around $700 million on Hennes & Maurtiz stock in April and May this year...
Telit Communications, the London-listed internet of things provider, has promoted a senior executive to head a new automotive business unit, signalling the company is close to selling the division to a potential buyer for between £100 million and £150 million.
Dirk Reimer, previously a vice president, has just been made managing director of Telit's new integrated automotive division, said sources claiming to be familiar with the matter...
Sensyne Health, the start up healthcare technology business funded by controversial (star?) fund manager Neil Woodford, is pressing ahead with a float on London's AIM market.
Sources familiar with the situation said Sensyne, formerly known as Drayson Health, has hired brokers from Peel Hunt to work on the listing...
Below is a link to a great scoop by John Collingridge, now deputy editor of The Sunday Times business section, about how China General Nuclear is trying to buy a stake worth £4 billion in Britain's nuclear power stations from Centrica and EDF.
Fosun is said to be the mystery company circling Ageas, the Belgian insurance business formerly known as Fortis.
The Chinese conglomerate is in the "early stages" of examining a takeover of Ageas, said sources claiming to be familiar with the matter.
Last week Betaville Intelligence reported a potential acquirer of Ageas may have already indicated an interest in buying the business, which provides property insurance...
REVEALED: Charles Tyrwhitt founder in line for multi-million pound payout from £40 million Feefo sale
Nick Wheeler, the founder of shirt brand Charles Tyrwhitt, could be about to make another multi-million fortune from the sale of Feefo, an online reviews platform.
City sources told Betaville Feefo has hired from advisers from corporate finance boutique Stella to look at "strategic options" for the business after receiving takeover approaches from private equity firms...
Well that didn't take long.
An hour after Betaville published along came Bloomborg with a tale about how China Grand Enterprises, Inc. and its affiliate company Huadong Medicine Co made a takeover approach for London-listed Sinlcair Pharma, the face lift specialist.
Below is a link to the RNS confirmation:..
Are the Chinese about to unleash another round of dealmaking for European businesses?
A couple of years ago some of China's largest companies attempted unprecedented deals for western corporates - e.g. Anbang's $14 billion bid for Starwood Hotels - and, of course, well-known top flight football clubs...
UK Oil & Gas is said to be working on a fresh equity fundraising despite having just raised £5 million from investors.
The company developing the so-called "Gatwick Gusher" is said to be weighing raising another £2 million in fresh equity capital at 2p, according to sources claiming to be familiar with the matter...
Sunday review - the old business editor, er, the new business editor and the estate agency merger...
So, farewell Iain Dey, who until yesterday was the business editor of The Sunday Times, a newspaper Betaville regularly writes for.
Iain and Betaville first worked together back over a decade ago when The Daily Telegraph and The Sunday Telegraph decided to merge their respective business reporting teams. Below is a scoop we broke together during that period:..
[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].