Social housing group Apollo considers separate life after HBOS sale
Sunday 23 May 2010
Apollo, the social housing group that is part of the HBOS bank, has hired big four accountant PricewaterhouseCoopers (PwC) to review the business in a move that could lead to a sale.
The group is part of the integrated portfolio that HBOS owner Lloyds is selling to secondary buyout group Coller Capital. However, Apollo is looking at the potential for a separate exit after the Coller transaction.
HBOS paid £410m for Apollo three years ago, but housing businesses have struggled during the downturn. There are a number of options for Essex-based Apollo including a sale, said a market source. He added that the review is at "an early stage".
"Debt could be refinanced, there could be a flotation, it could be combined with other parts of the HBOS portfolio or there might be new lines that could be pursued," he said.
Meanwhile, the Ftse 100 private equity firm 3i has hired Hawkpoint to sell NSL, a transport services group that was once half of National Car Parks.
- 1 Sainsbury's '50p challenge' poster telling staff to encourage customers to spend more placed in shop window instead of staff room
- 2 Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
- 3 HeForShe campaign: Iceland to follow up Emma Watson speech with UN women's rights conference – for men only
- 4 Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
- 5 Teenagers irritable because early school hours mess with their biological clocks
Five-year-old Iris Grace is raising awareness of autism through her extraordinary paintings
Car tax disc changes: Five facts you never knew about your (almost obsolete) tax disc
Isis an hour away from Baghdad - with no sign of Iraq army being able to make a successful counter-attack
Car tax disc changes: Two days to go - and they affect you much more than just not displaying a piece of paper
The Aral Sea: Nasa pictures show how what was once the fourth largest lake in the world has become almost completely dry
Isis, we are told, is a 'clear and dangerous threat to our way of life'. I’m sorry, but I just don’t buy it
Exclusive: 'Putin's Russia has been my biggest regret,' says Nato's outgoing Secretary General
The Osborne Ultimatum: Chancellor’s benefits freeze bombshell will affect ten million households
There’s no excuse for Dave Lee Travis’s behaviour, but we need to keep a sense of proportion
Should gay sex be illegal? 16% of Britons think so
Mark Reckless becomes second Tory MP to defect to Ukip in a month
- < Previous
- Next >
iJobs Money & Business
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
NEGOTIABLE: Austen Lloyd: TRUST ACCOUNTANT - KENTIf you are a Chartered Accou...
£18000 - £20000 per annum + OTE £30000: SThree: SThree are a global FTSE 250 b...
Highly Competitive Salary: Austen Lloyd: CITY - Law Costs Draftsperson - NICHE...