Oiling the buyout engine
Article Abstract:
The sale of Aberdeen-based Progenitive Services (PSL) for 45.5 million pounds sterling was the largest management buyout in Scotland during the first quarter of 1998. PSL was founded in 1986 and is an oil services firm. NatWest Equity Partners put the buyout structure in place and completed the deal in March 1998. The oil sector has produced some of the largest management buyouts during the 1990s, with the 56 million pounds sterling sale of Asco oil services by Sidlaw Group in September 1996 being the largest.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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Break for the border
Article Abstract:
Activity on the global mergers and acquisitions market is predicted to continue rising after $1,356 billion worth of deals were completed in 1997, compared with $249 billion in 1992. There were 7,599 deals in 1992, increasing to 13,857 deals in 1997. The biggest global deal in 1997 was WorldCom's $37 billion bid for MCI Communications. Union Bank of Switzerland's $24.7 billion bid for Swiss Bank was the second largest in 1997. Investment banks are confident of continued growth in the M&A market in 1998.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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The magic circle closes in
Article Abstract:
UK financial adviser Linklaters & Paines achieved over 15 million pounds sterling worth of business during the period from January 1998 to June 1998, split between 15 deals. The largest deal was the 6.8 million pounds sterling merger between General Accident and Commercial Union. The largest failed public takeover during first half of 1998 was US-based Pacificorps' 4.2 billion pounds sterling takeover of the UK-based Energy Group, which was also handled by Linklaters & Paines.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
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