LONDON Jan 27 Sunday Times
BARCLAYS PLANS NEW CAPITAL RAISING
Barclays, Britain's No.2 bank, is planning to raise
about 2 billion pounds ($3.16 billion) of capital through a sale
of contingent convertible bonds to put to rest concerns about
its capital strength, the Sunday Times reported without citing
sources. The plan comes as banks await the findings of an
inquiry into their capital positions launched by the Bank of
England's Financial Policy Committee.
BLACKSTONE TO SELL BROADGATE PROPERTY STAKE
Blackstone is preparing to sell its 50 percent share of the
Broadgate office development in London's City financial
district, the Sunday Times reported without citing sources. The
deal could fetch up to seven times the 75 million pounds
Blackstone paid in 2009, the paper said.
3i MAY BUY STAKE IN UK AIR TRAFFIC CONTROLLER NATS
British private equity firm 3i could buy a 120 million
pound stake in air traffic control firm Nats currently held by
travel operators TUI and Thomas Cook, the
Sunday Times reported without citing sources. TUI and Thomas
Cook have appointed investment bank Rothschild to sell their
holding, and other potential suitors include pension funds and
infrastructure investors, the paper said.
CHINESE WATER FIRM PLANS BID FOR UK RIVAL
Beijing Water Authority has hired HSBC to advise it on
a potential 300 million pound bid for Britain's Sutton & East
Surrey Water, the Sunday Times reported without citing sources.
INSURER TOWERGATE EYES SALE OF PAYMENT PROTECTION UNIT
Insurance broker Towergate has hired Morgan Stanley to
find a buyer for its Paymentshield business, which sells
insurance that allows workers to keep up mortgage payments if
they lose their income. The unit could fetch up to 400 million
pounds which would be used to repay some of Towergate's debt
ahead of a possible stock market listing, the paper said without
BARCLAYS SEEKS THREE NEW DIRECTORS
Barclays chairman David Walker has hired executive
search firm MWM Consulting to recruit three new non-executive
directors, and wants at least one of new appointees to be
female, the Sunday Telegraph said without citing sources.