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’EMI and Hands scramble for backing
Terra Firma, the buy-out fund run by Guy Hands, and EMI are scrambling to secure enough backing from investors for their £2.4bn agreed deal amid concerns that tightening credit markets could undermine the business case for Terra Firma’s takeover of EMI.
PE – the green ink flows
Actually, that’s grossly unfair. Friday saw another brace of lively missives in the FT’s letters column — focusing on Guy Hands recent contribution to the debate over private equity.
Lord Turner, the former CBI director-general,
Hands defends low tax on UK buy-outs
Guy Hands, one of the UK’s best-known private equity practitioners, has strongly defended the tax regime that enables some top UK buy-out executives to pay just 10 per cent in tax after a series of attacks on “taper relief” provisions in the existing tax structure.
Truell buys Terra Firma’s Thresher
The Thresher group, the UK’s biggest chain of off-licence stores, has been sold to a consortium led by Edmund Truell, the private equity and pension investor. Terra Firma, the private equity firm run by Guy Hands,
Hands moves in on Boots as KKR readies £10.1bn bid
Guy Hands, the City financier plotting a £10bn bid for Alliance Boots in conjunction with Wellcome Trust, has gained access to the company’s accounts and has begun due-diligence work, reports The Times.
Hands targets high street
The battle for Alliance Boots has escalated after it emerged that legendary dealmaker Guy Hands is talking to advisers about a possible bid for the drug retailer and wholesaler through his investment vehicle Terra Firma,
Eavesdropping on private equity
Via Reuters, here’s a selection of what PE chiefs and hedge fund heavyweights were saying at the Super Returns private equity conference in Frankfurt this week:
Thomas Puetter, chief exec, Allianz Capital Partners – “I think the sad thing about private equity is that it doesn’t actually do anything that a public company can’t do itself.
Hands warns on big private equity
Guy Hands, the wealthy British financier, on Wednesday claimed that the top 10 large buy-out firms risked becoming the “unacceptable and unaccountable face of capitalism” and that the private equity industry had a fight on its hands to defend itself against its critics.
Guy Hands finalises details of €5.2bn fund
Guy Hands’s Terra Firma private equity vehicle is putting the finishing touches to a new buy-out fund that will close early next year at more than €5.2bn. Although less than half the size of Permira’s record European fund and barely a third of Blackstone’s $20bn global fund,