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Lenders to M6 appoint UBS to run sale process; teasers out Posted: 20 Apr 2016 01:20 PM PDT I turned up an little titbit on the M6 toll road situation whilst on the rounds today. The banks that took control of M6 signalled a couple a months ago they are plotting a sale of the business after taking control of the motorway from Aussie infrastructure fund Macquarie. Here are links to a Financial Times article and BBC piece on the topic. http://www.ft.com/cms/s/f298af0e-d01d-11e5-92a1-c5e23ef99c77,Authorised=false.html?siteedition=uk&_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2Ff298af0e-d01d-11e5-92a1-c5e23ef99c77.html%3Fsiteedition%3Duk&_i_referer=https%3A%2F%2Fwww.google.co.uk%2F6666cd76f96956469e7be39d750cc7d9&classification=conditional_standard&iab=barrier-app#axzz46NTfCqyl and http://www.bbc.co.uk/news/uk-england-35553865 Well, I hear the lenders and hedge funds that own M6's debt have now appointed UBS to run the sale and teasers (preliminary information packs) have been sent to potential bidders. Apparently, lenders to M6 want about £2 billion (roughly the amount of outstanding debt) for the struggling motorway. Good luck! |
Posted: 20 Apr 2016 01:19 PM PDT I see Pret a Manger - the up-market sandwich shop favoured by young bankers, hedge fund analysts and lawyers - has been basking in the glory of another set of strong results, with a significant amount of press coverage today. Here a few links: http://www.ft.com/cms/s/0/1f48d7a6-0613-11e6-9b51-0fb5e65703ce.html#axzz46NTfCqyl http://www.theguardian.com/business/2016/apr/19/pret-a-manger-sales-rise-as-vegetarian-range- pleases-foodies http://www.telegraph.co.uk/business/2016/04/19/pret-a-manger-boosted-by-us-growth/ It's been quite some time since Bridgepoint purchased the company (almost eight years), so when I bumped into Bridgepoint's urbane PR man at a party late last year I posed the question: "Will 2016 be the year Bridgepoint/Goldman Sachs sell the well-liked sandwhich chain?" The answer I got was a predictable: "there are no current plans etc etc etc ..." |
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