Building a specialist business at Warings
Article Abstract:
The 12 million pounds sterling buyout of Warings Construction Group, Portsmouth, UK, was completed by Gresham Trust in March 1998. Credit Agricole Indosuez provided the deal with banking facilities. The buyout was a vendor-initiated management deal (VIMBO), led by Warings' managing director Len Salter. Warings competes in the design and build construction market on projects ranging in value from 7 million pounds sterling to 15 million pounds sterling. The buyout team is seeking to expand the firm's coverage of Southern England.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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Cashing in on Britannia
Article Abstract:
The UK acquisitions and mergers market was valued at 64.1 billion pounds sterling in 1997, helped greatly by the Guinness and Grand Metropolitan merger, valued at 9.8 billion pounds sterling. There were 1,801 transactions in 1997, compared with 1,720 in 1996. The largest foreign purchaser in the UK was US firm Merrill Lynch, which paid 3,108 million pounds sterling for Mercury Asset Management. UK firm Misys paid 923 million pounds sterling for US-based Medic Computer System.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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