PRESS DIGEST - Sunday British Business - Feb 10

LONDON Sun Feb 10, 2013 7:53am EST

LONDON, Feb 10 (Reuters) -

Sunday Times

RBS BOSS IN LINE FOR 780,000 STG BONUS

The head of Royal Bank of Scotland Stephen Hester is set to be handed a 780,000 pound ($1.24 million) bonus via a share based payment awarded in 2010 which he agreed not to cash in for three years.

HEALTHCARE GIANT GHG IN TALKS WITH LENDERS

Lenders to private health firm General Healthcare Group, led by Barclays, Mizuho and Germany's Pfandbriefbank, have appointed advisers from Lazard and PricewaterhouseCoopers to explore options over 2 billion pounds of debt due in October. GHG was bought in 2006 by a consortium comprising Apax Partners, Brockton Capital, London & Regional Properties and Netcare.

CANADIAN PENSION FUND POISED FOR WIND FARM STAKE

Caisse de Depot et Placement du Quebec, the $159 billion Canadian pension fund, is close to buying a 500 million pounds stake in London Array, the world's largest offshore wind farm. Danish Power group Dong Energy, which led the 2 billion pounds development, hired Citi to sell half its 50 percent stake.

WHEELCHAIR MAKER IN 80 MLN STG SALE

The owners of Medequip Assistive Technology are working with advisers at corporate finance firm Clearwater to find a buyer for the firm, touting an asking price of about 80 million pounds. A number of private equity firms are said to be interested.

BUMI CHAIRMAN CALLS CITY POLICE OVER HACKING

The Chairman of miner Bumi has filed a complaint with City of London Police, the Serious Fraud Office and Serious Organised Crime Agency over targeted hacking of his email. Samin Tan sent police a report that claims to provide evidence of a "malicious and targeted attack to steal electronic information."

Sunday Telegraph

BARCLAYS TO SHUT TAX UNIT

Barclays will close its structured capital markets business which advised companies on how to reduce their tax bills, as part of a strategic review driven by new boss Antony Jenkins.

EASYJET FOUNDER TO VOTE AGAINST RE-ELECTION OF CHAIRMAN

Stelios Haji-Iaonnou, founder and owner of 36 percent of budget airline EasyJet will vote against the re-election of chairman Mike Rake and against the board's remuneration report at the company's shareholder meeting on February 21.

QATAR CHIEF JOINS HEATHROW BOARD

The head of Qatar Airways, Akbar Al Baker, has joined the board of Heathrow Airport Holdings as a non executive director to represent sovereign wealth fund Qatar Holding which bought 20 percent in the airport conglomerate last October.

PROBE PLANNED ON BANK INFORMATION SHARING

British data regulator, the Information Commissioner's Office, will examine a complaint that banks and finance firms are compiling and sharing files that may contain "unproven allegations" about small business clients.

BURGER CHAIN VALUED AT 120 MLN STG

Advisers on the sale of hamburger chain Byron are telling potential buyers the business is worth as much as 120 million pounds based on recent results. DC Advisory is leading the sale for current owners Gondola Holdings.

PRET A MANGER OWNER LOOKS FOR REFINANCING INSTEAD OF IPO

Private equity firm Bridgepoint which owns Pret a Manger is likely to extend its ownership and raise cash for expansion rather than pursue an initial public offering.

STANCHART PLANS PUSH INTO IRAQ

Standard Chartered will apply to Iraqi regulators for permission to open three business branches in Baghdad, Basra and Erbil as oil majors and development companies demand greater financial services support in the country.

Independent on Sunday

MAN GROUP HIRES KPMG AS INTERNAL AUDITOR

Hedge fund firm Man Group has appointed KPMG as its internal auditor to review governance in the wake of a shareholder revolt last May.

The Observer

The Zambian sugar producing subsidiary of Associated British foods paid less than 0.5 percent of $123 million pre tax profits in corporation tax between 2007 and 2012, according to ActionAid.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.