Aquila European Renewables slides 12% as preferred bidder cuts the value of its bid and board pauses sales process, and CVC Income and Growth changes the master fund it feeds into. Aquila European Renewables (AERI) shares slide 12% to 54 euro cents as its board “pauses” the sale of the company after its preferred bidder […]
Literacy Capital (BOOK), the UK-focused, smaller company private equity fund, has cut its stake in its second largest investment, Velociti Solutions, a transaction that enables a £6m return of capital to shareholders and, equally important, validates the valuation of a portfolio stuck on a double-digit discount. Literacy, named after the reading charity it supports, said […]
Update: Winterflood, the investment company broker and market maker, has been sold to Marex, a US Nasdaq-listed commodoties trading platform, for £103.9m cash. Although not well known in the UK, market observers had spotted Marex’s potential interest in the inevestment trust sector, given Angelo Sofocleous, a former Cantor Fitgerald boss, has worked for the company […]
Law Debenture (LWDB) smashed the UK stock market rally in the first half of the year with its investments and professional services businesses both firing on most cylinders. Interim results today showed the £1.3bn UK equity income trust made a 15% underlying return in the six months to 30 June, beating the 9.1% advance in […]
GCP Infrastructure reduces its debts with the settlement of an audit dispute and International Public Partnerships declares its first ever quarterly dividend. GCP Infrastructure (GCP) has settled a contractual dispute relating to the audits of the accreditation of a solar portfolio under the renewables obligation certification regime. Terms are confidential but the £667m company will […]
Investors holding more than two thirds of Schroders Capital Global Innovation applied to sell their shares in this month’s tender offer. The £37m tender offer of Schroders Capital Global Innovation (INOV) was oversubscribed by more than three times as investors leaped at the chance to exit the former Woodford Patient Capital Trust at asset value. […]
Update: Third Point Investors reverses yesterday’s gains as shareholders owning 14% of the hedge fund, including Asset Value Investors and Evelyn Partners, join forces to oppose its transformation plan. Angry investors holding 14% of Third Point Investors (TPOU) have formed an action group to oppose the hedge fund’s controversial plan to transform itself into a […]
Peter Spiller, lead manager of Capital Gearing Trust (CGT), has warned of the increasing risk of a gilt market crisis to force the UK government to curb spending. Labour’s recent failure to pass proposed cuts in personal independence benefit payments is a blow to the prime minister and chancellor’s plan to free up investment spending […]
Caledonia Investments confirms its 10-for-one share split will take place tomorrow and Cordiant Digital Infrastructure shares part of its Datacenter investment with a sister fund. Plus updates from AEW UK REIT, Onward Opportunities and GCP Asset Backed Income. Caledonia Investments (CLDN) confirms its 10-for-one share split will take place tomorrow. Cordiant Digital Infrastructure (CORD) confirms […]
Brunner (BUT) fund managers have apologised after UnitedHealth, the US insurer that was their second biggest holding eight months ago, crashed on fears of a Trump clampdown on the business. Shares in UnitedHealth (UNH.O) have plunged 43% this year, prompting Julian Bishop and Christian Schneider of Allianz Global Investors to dump what had been a […]
