Financing through to the final furlong
Article Abstract:
The 700 million pounds sterling acquisition by Japanese investment bank Nomura International of betting shop chain William Hill lead to the collapse of Brent Walker in 1991. William Hill remained a viable buyout proposition due to the competent financial management team which ensured William Hill paid off all debts. William Hill's operating profits rose from 51 million pounds sterling in 1996 to 78 million pounds sterling in 1997. US investors needed reassuring as to the importance of William Hill because most of the country's horse racing betting takes place at the track rather than in a shop.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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A two horse race in the final furlong
Article Abstract:
Morgan Grenfell private equity (MGPE) had to work carefully on their bid for the Coral betting business due to some unusual circumstances. The business was due to be auctioned by a specific date, Mar. 23, 1999 as decided by the UK Department of Trade and Industry (DTI). The DTI had ruled Ladbrooke must sell Coral, which it bought in 1997. Ladbrooke also put forward some conditions on who could buy the company. Morgan Grenfell was able to make the successful bid at the auction and purchase the company for 390 million pounds sterling. The final competition had been between Cinven and MGPE.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1999
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Leeds. A city thinking big
Article Abstract:
The financial community in Leeds, Yorkshire, UK, is experiencing a mixture of fortunes in the first half of 1998. Electronic firm Tunstall was purchased for 53 million pounds sterling by Telco, which was advised by local law firm Dibb Lupton Alsop. A three-month long deal to sell Trust Motor Group collapsed, incurring massive expenses for the legal advisors involved. Leeds is mainly dependent on large manufacturing industries which have become unattractive to potential takeover and mergers.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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