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The Business Matrix: Tuesday 20 August 2013
Six farms running for Greencoat
Greencoat UK Wind, the investment fund floated in March, said it had invested the entire £260m it raised in six up and running wind farms. The fund declared its first ever dividend of 1.5p which it said was in line with its planned 6p total pay-out for the year. The maiden asset value of 100.9p a share is just up from the float price of 100p.
GPW to expand with Aquis stake
Warsaw bourse operator GPW has agreed to buy 30 per cent of start-up share trading exchange Aquis for £5m in its first step to expand outside central Europe.
GPW is the largest stock exchange in central and eastern Europe and is currently in talks with the Vienna bourse operator that could lead to a merger between the two.
Skrill sold to CVC by Investcorp
Bahrain-based Investcorp has agreed to sell British online payments services firm Skrill Group to private equity group CVC Capital Partners for €600m (£511m). Investcorp will keep a “substantial” minority position in the company and retain a seat on Skrill’s board. It did not elaborate on the size of the stake.
Edwards accepts £1bn takeover bid
British industrial vacuum sysytems manufacturer Edwards Group has accepted a $1.6bn (£1bn) takeover bid from Swedish engineer Atlas Copco.
Edwards employs 3,200 people and is a market leader in producing specialist vacuums for the chemical, pharmaceutical and the semi-conductor industries.
Botulism inquiry hits Fonterra
New Zealand has announced plans for an inquiry into how ingredients made by dairy giant Fonterra became contaminated with a botulism-causing bacteria. The inquiry will examine how the potentially contaminated products entered the market and whether adequate regulatory practices were in place.
Bed retailer hire Dream chief
Bed retailer Dreams has hired the former UK boss of Mothercare as its new chief executive. Mike Logue, who has also worked at Asda, Gamestation and Marks & Spencer, joined at the 164-store bed chain. Private-equity firm Sun European bought Dreams out of administration in a £35m deal in March.
LinkedIn seeks a younger crowd
LinkedIn, the professional networking website, has launched a push to recruit career-minded youngsters by lowering its minimum age requirements. From next month, 14-year-old Americans will be able to sign on to the website. In the UK, the age requirement will drop to 13.
Lloyds set to sell German holding
Lloyds Banking Group is preparing a sale of its German life insurance business as the state-backed bank exits overseas markets to focus on lending at home. It is believed Lloyds could raise around €400m from the sale of Heidelberger Leben.
Carbon target met and raised by TUI
Travel firm TUI Travel said it has raised its carbon reduction target after its airlines hit an initial goal to cut carbon dioxide usage by 6 per cent two years early. The world’s largest tour operator now hopes to cut usage by 9 per cent.
Tourism brings needed boost
Tourists are beginning to return to Greece, offering some much-needed support for the battered eurozone economy. Receipts from tourism in June were 21 per cent higher than the same month in 2012, according to the latest figures from the Greek central bank.
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