Thursday 19 August 1999
Hotels cash bid
ALCHEMY, THE venture capital group, yesterday agreed a cash bid with Scottish Highland Hotels, in a deal that values the four-star hotel chain at pounds 38m. Paramount Hotels Investments, a subsidiary of Paramount Hotels chain, which is majority-owned by Alchemy, will pay 130p in cash for each Highland share. SSH shares closed up 4.5p at 128p yesterday. The Scottish Highland chain has five hotels in Scotland and two in north England. Phillips and Drew, the fund management group, ended takeover talks with SHH in July. Hanover International was also touted as a rival bidder.
HELLENIC BOTTLING and Coca-Cola Beverages have issued a statement that confirms the previously reported terms of their drawn-out merger.
Neville Isdell, the CCB chief executive who will head the enlarged group, said he was "very happy" with the final deal, despite Hellenic reducing its partial cash offer from 150p to 140p a CCB share.
Metals job cuts
KVAERNER, THE engineer, yesterday announced plans to axe 185 staff at two loss-making metals businesses.
The company said it would cut 95 employees at its Kvaerner Metals Manufacturing operation in Sheffield and 90 at Kvaerner Cleveland Bridge, a manufacturer of bridges in Darlington, County Durham.
Kvaerner said both plants were trying to cut costs and increase their operating performances.
SCOTTISH TELECOM, part of the utility group ScottishPower, yesterday said it would provide electronic mail on TV screens to customers of ONdigital, the digital broadcaster jointly owned by ITV franchise holders Granada and Carlton.
Elf court victory
A PARIS appeals court yesterday agreed to hear Elf Aquitaine's objections to Total Fina $50bn proposal to combine France's two largest oil companies, delaying a resolution of the fight until at least November.
elephant appealPrince William signs up for our charity appeal
elephant appealSo says man jailed for cutting off dead elephant's tusks
booksWe examine the best titles for teens
scienceResearchers teach border collie to understand sentences using more than 1,000 words
booksA Christmas story in six parts
travelWill high-value tourism help the workshops of this Renaissance city?
Geoffrey Macnab does not like the comedian's big screen debut
Top PR exec Justine Sacco under fire for sending racist tweet before flying to Africa
French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
Ten best places to live in the UK: Hart in Hampshire takes top spot
'Untrue statements' anger over work to make H5N1 bird-flu virus MORE dangerous to humans
Paul Walker's daughter Meadow attends Justin Bieber Believe premiere
- 1 Top PR exec Justine Sacco under fire for sending racist tweet before flying to Africa
- 2 French pub fined €9,000 after customers returned empties to bar - because it's 'undeclared labour'
- 3 Sun will 'flip upside down' within weeks, says Nasa
- 4 The publisher who played with fire: the battle for control of Larsson's £30m legacy
- 5 Police seize possessions of rough sleepers in crackdown on homelessness
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