UK: FINELIST TO BE ACQUIRED

Article Abstract:

UK-based car parts distribution business, Finelist, is expected on 14 February 2000 to be acquired for GBu 159mn by a group of private equity firms, including AXA Private Equity. Finelist chief executive, Chris Swan, revealed that a private buyer had been sought in order to end a decline in his firm's share price. Mr Swan claimed that the low ratings placed on small quoted businesses by the stock market is having a detrimental impact. He noted that 1,700 small businesses account for one tenth of total employment in the UK and there may be far-reaching implications should they opt to go private, Finelist, which has an 8,000-strong workforce, has turnover of GBu 500mn and its 747-strong network of retail and trade sites focus on a wide array of car market activities.

Sales, profits & dividends, Small Business, Finelist, AXA Private Equity Fund

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UK: FDIA UNDER FIRE FROM WICKES

Article Abstract:

Focus Do It All (FDIA) was accused on 22 May 2000 of making erroneous statements in order to misinform shareholders of the UK-based home improvement retail business, Wickes. FDIA raised its hostile bid for Wickes to about GB[pound] 4.30 per share earlier in May 2000, valuing the latter at about GB[pound] 327mn. Wickes' shareholders have until 12.00 on 2 June 2000 to opt to agree to the bid.

Do-It-Yourself Building Materials (Ret, Home Centers, Lumber and other building materials, Building materials industry, Home center stores, Do-it-yourself products industry, Focus Do It All, Wickes PLC

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UK: UNWINS CONSIDERS BID FOR ODDBINS

Article Abstract:

Unwins, the off-licence chain, is expected to launch a bid for Oddbins, a rival business. A sale is expected as a result of a US$ 23.5bn merger between its owners Seagram of Canada and French group Vivendi. The wine specialist could be valued at up to GB[pound] 50mn. Oddbins has 245 outlets while Unwins' has 453 with a turnover of GB[pound] 200mn. Other possible bidders include Virginwine.com, Parisa and Booze Buster. Nomura, which recently acquired First Quench from joint owners Whitbread and Punch Taverns, has not ruled out bidding.

Brief Article, Oddbins, UNWINS

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