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’Snap News
The latest on Thursday,
- August Equity unable to raise funds, terminates takeover discussions with TMN – statement
- Doughty Hanson to acquire TMF for €750m – Reuters
- Emerging market asset manager Ashmore reports modest increase in aum – trading statement
- Pharma co.
Weekend catch-up
In case you missed these stories:
S&P discloses errors in rating models
S&P has told regulators it found an error in the computer models underpinning the credit ratings of complex debt products but that the glitch did not affect the ratings of the debt.
Doughty Hanson sells Moeller
Doughty Hanson said Thursday it had made a threefold return on its equity investment in Moeller. The private equity group invested €192m in the German electrical component maker, which was bought by Eaton Corp,
Doughty Hanson spat raises valuation queries
Fascinating stuff at Doughty Hanson. The spat over the valuation at which two of the co-founders, Nigel Doughty and Richard Hanson, can buy out a third, Bruce Roe who retired last summer, raises eyebrows on a number of fronts.
National Express in €700m bid for Spanish bus group
Bus and rail company National Express is in advanced negotiations to acquire Spanish bus group Continental Auto for in excess of €700m (£480m), reports the Daily Telegraph. Other parties to offer for the business include private equity firm Doughty Hanson,
Prodrive founder drives £450m Aston Martin bid
David Richards, founder of Prodrive, the motor sport group, is spearheading a consortium that is one of three bidders left in the running for Aston Martin, according to people involved in the process. Prodrive already runs Aston Martin’s racing team and is in the process of setting up a Formula One team.
Bidders jostle for Aston Martin
Ford Motor is on Wednesday expected to receive revised offers from a handful of remaining bidders left in the auction for Aston Martin, the sports carmaker it is attempting to sell for more than £450m.