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’Baugur on brink of administration
Baugur, the Icelandic investment group that bought various UK and other retailers in the last decade, could fall into administration after Landsbanki called in its £1bn debt. The Icelandic bank said Wednesday it had asked PwC to step in and run the business,
Green says Arcadia well placed for downturn
Sir Philip Green said his Arcadia Group, the UK’s biggest fashion retailer, is well placed to ride out a downturn and could use its strong balance sheet to buy weaker competitors. Green is in talks to buy about £2bn of debt in Baugur,
Bargain-hunters circle Baugur
UK retail mogul Sir Philip Green is facing competition from TPG, the US buyout group, in his attempt to gain control of Baugur’s UK high street assets by buying the debt of the Icelandic company. TPG has told the Icelandic government it is interested in acquiring the £1bn-£2bn of debt owed by Baugur to the country’s collapsed banks.
Baugur chief to lose UK retail
The founder of Icelandic retailing group Baugur on Sunday admitted he would lose control of the retail group that spans the House of Fraser department store chain and the Hamleys toy retailer if a planned deal with UK entrepreneur Sir Philip Green goes ahead.
Iceland’s Baugur reviews UK retail interests
Baugur, the Icelandic group, was seeking Thursday night to clarify the status of its interests in large chunks of the high street following the collapse of the Icelandic banking system, reports the FT.
Baugured
Fjords are not the only things that might be sold following Iceland’s spectacular banking collapse. Assets closer to home (the British High Street) could be flogged too, according to BarCap analysts March Nichol and Hans Vrensen:
Glitnir shareholder files for administration
A UK-based company controlled by high-profile Icelandic retail entrepreneur Jón Ásgeir Jóhannesson was forced to file for administration on Monday as the ripples from the nationalisation of an Icelandic bank threatened to reach the UK high street.
The Crunch lands on Britain’s high street
From banking to shopping, the contagion of credit problems on Monday looked set to travel straight through to some of the best known names in British retailing.
Stodir, formerly known as FL Group and an indirect investment vehicle of Icelandic entrepreneur Jon Asgeir Johannesson,
Woolworths rebuffs Baugur
Woolworths at the weekend rejected an attempt by Baugur, the Icelandic investment group and its second-biggest shareholder, to break up the group and acquire its stores. The plan would see the struggling stores split from the group’s wholesale and DVD publishing divisions.
Baugur sells stake in UK’s Booker
Baugur, the Icelandic investment group, has sold its stake in Booker, raising about £70m and setting the wholesaler on the path to a main market listing. The 31.4% stake in Booker, listed on Aim last year via a reverse takeover by rival Blueheath,
Snap news
The latest on Tuesday,
- Board of InBev reportedly to decide as early as Tuesday on whether to pursue takeover talks with Anheuser Busch. Reuters
- Baugur pulls bid for Moss Bros – statement
- Vodafone says adjusted operating profit 2007/08 up 5.7% to £10.1bn;
Iceland’s Baugur bids for Moss Bros
Moss Bros, the UK men’s wear chain, has received an indicative takeover offer from Baugur, the Icelandic investment group, setting the stage for a confrontation with family shareholders. Baugur has provisionally offered 42p a share,
A small but intriguing retail battle: Family fears at Moss Bros
The two family dynasties at the heart of UK mens’ wear retailer Moss Bros are worried the company will be taken private on the cheap by Baugur, the Icelandic investor that is the largest shareholder, reports the FT on Thursday.
UK High St names consider MBOs
The plunging share prices of some of the high street’s biggest names could usher in a series of buy-outs, say bankers, consultants and retailers. Clinton Cards has told the FT it might consider an MBO and is likely to be joined by others,
Reykjavik, London, New York – Baugur mulls joint Saks bid
Baugur, the Icelandic retail group best known for its raids on the British high street, has confirmed its ambitions to expand into the US, disclosing discussions on a possible joint bid for New York’s Saks Fifth Ave with Dubai retailer Landmark Group.
Baugur buys stake in Saks chain
Baugur, the Icelandic investment group that has bought up much of the UK shopping scene, is turning its attention to the US luxury retail sector, with a $250m investment in Saks, the department store chain.
Baugur rules out Debenhams bid – for now
The quotes from Baugur’s Jon Asgeir Johannesson, published in the Telegraph, were clear enough:
We have a £600m war chest which we will use to support our brands and to seek further opportunities in the coming year…Debenhams could be a good opportunity,
Baugur declares interest in Debenhams
Shares in Debenhams jumped on Tuesday when the department store group revealed that Baugur, the Icelandic investment group, had taken an option over 4.87 per cent of its shares. Neither Debenhams nor Baugur would comment on the move.
Baugur gives Debenhams that (rare) rising feeling
Shareholders in Debenhams have experienced something unusual of late — the sensation associated with their investment rising in value rather than falling.
Now we know why. On Tuesday, Unity Investments,
Baugur looks at taking Mosaic private
Baugur is considering taking Mosaic, the owner of Oasis and Karen Millen fashion brands, private again less than two years after floating it on Iceland’s stock exchange, reports The Times. Sources close to Baugur said it was investigating delisting the fashion group to enable it to integrate the Mosaic and Rubicon businesses away from the gaze of investors and analysts.
Baugur moves against Woodward chief
The chief executive and the trading director of Woodward Foodservice, Britain’s third-biggest food distribution company, have been dismissed by Baugur, its controlling shareholder, reports The Times.
Baugur blasts Woolworths leadership
Woolworths is facing mounting pressure for radical change after Baugur, its largest shareholder, on Tuesday for the first time openly criticised the troubled retailer’s management. Jón Ásgeir Jóhannesson,
Hunter’s Indian venture
Sir Tom Hunter has teamed up with Icelandic investor Baugur and Britain’s HBOS to finance a $100m fund set up by property group Catalyst Capital to invest in India, reports the Sunday Times. The multi-millionaire Scottish entrepreneur travelled with Baugur chief Jon Asgeir Johannesson and Catalyst’s Julian Newiss to India last week to conclude the deal.
Baugur injects more cash into Goldsmiths
Baugur, the Icelandic investment group, has restructured and refinanced Goldsmiths, the loss-making jewellery chain it bought in 2004 for £110m, the Telegraph reported. It has invested an additional £28m in the business alongside the group’s senior management and an unnamed supplier.