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Transactions UK
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July 04, 2024
Labour's Big UK Election Win Clears Way For Tax Reform
Labour's victory in the U.K. general election clears the way for plans to raise taxes on the rich to close a widening spending gap, but it could also mean wider fiscal reform in the new government's first budget later this year.
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July 04, 2024
Labour Sweeps Tories From Power In UK Election Rout
Keir Starmer was poised to become Britain's next prime minister on Friday after his Labour Party ousted Rishi Sunak's Conservatives in a landslide general election victory, ending 14 years of Tory government with a pledge of "national renewal."
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July 04, 2024
UK Insurer Utmost Group Plans £200M Buy Of Rival
Utmost Group PLC said Thursday that it has agreed to buy rival insurer Lombard International Assurance Holdings Sarl for more than £200 million ($255 million), strengthening its presence in key European markets.
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July 04, 2024
UK Insurance Investor Expands In Poland, Buys Broker
Insurance acquisition vehicle PIB Group Ltd. said Thursday that it has bought a Polish broker, Nord Group, strengthening its foothold in the Eastern European country.
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July 04, 2024
Investor NewRiver Buys Property Manager For Up To £9M
Property investor NewRiver REIT PLC said on Thursday that it has bought Ellandi Management Ltd., an asset and development manager, for up to £9 million ($11.5 million) in a move to diversify its business and boost its assets under management.
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July 04, 2024
British Biz To Buy US Material Analysis Co. For $260M
Spectris PLC said Thursday that it has acquired SciAps Inc., a U.S. manufacturer of analysis instruments, for up to $260 million as the British high-tech instrument maker seeks to expand its presence in North America.
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July 04, 2024
Pension Deals Market 'Driven By Transactions Under £100M'
The record number of pension deals in the U.K. last year was driven primarily by smaller transactions of less than £100 million ($127.6 million), a consultancy has said.
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July 04, 2024
Tech Co. Knew IP Woes From Soured Deal, AI Video Biz Says
An AI video analytics business has told a London court that a security technology company it accused of failing to pay up after acquiring its intellectual property should have been aware that its CCTV-analyzing technology might contain bugs.
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July 04, 2024
London IPO Market Gaining Momentum, EY Study Finds
The London Stock Exchange attracted eight companies to take a listing in the first sixth months of 2024, raising a total of £513.8 million ($655.3 million), EY has said, signaling that the IPO market is gaining some momentum after a challenging couple of years.
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July 04, 2024
Barclays Sells €4.7B German Consumer Biz To Austrian Bank
Barclays PLC said Thursday that it will sell its €4.7 billion ($5.1 billion) German consumer finance business to Austrian lender BAWAG as the British bank moves to simplify its operations.
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July 03, 2024
PIC Seals £1.2B 2nd TotalEnergies UK Pension Plan Buy-in
Pension Insurance Corporation PLC on Wednesday concluded a £1.2 billion ($1.5 billion) second buy-in with the trustee of TotalEnergies UK Pension Plan, a deal considered the largest completed pension scheme buy-in thus far this year, according to an announcement by PIC.
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July 03, 2024
Homes Developer Cairn Kicks Off €45M Share Buyback
Cairn Homes PLC on Wednesday began an up to €45 million ($48.6 million) share repurchase program aimed at lowering its outstanding share capital.
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July 03, 2024
British Life Science Investor Syncona Unit Raises $170M
Medical technology company Beacon Therapeutics has raised approximately £134 million ($170 million) in its second round of funding from new and existing investors including venture capital firms and the University of Oxford, its parent company Syncona said in a statement Wednesday.
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July 03, 2024
Vodafone Extends Virgin Media O2 Deal To Boost Competition
Vodafone said on Wednesday that it sealed a fresh network-sharing agreement with telecommunications rival Virgin Media O2 for the next decade, as it looks to alleviate U.K. antitrust concerns over its £16.5 billion ($21 billion) deal to buy Three.
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July 03, 2024
Brown & Brown Unit Buys Employee Benefits Firm Advo
Brown & Brown (Europe) Ltd. said Wednesday that one of its subsidiaries has acquired employee benefits intermediary Advo Group Ltd., in a deal guided by Birketts LLP and DMH Stallard, for an undisclosed fee.
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July 03, 2024
Swiss Ventilation Firm Zehnder Buys Spanish Rival For €86M
Zehnder Group said Wednesday it has bought Spanish ventilation company Siber for €86 million ($93 million), a move it believes will strengthen its presence in southern Europe.
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July 03, 2024
Financial Intel Biz Buys Abrdn's Compliance Unit For £14.6M
Financial data intelligence provider Fintel said Wednesday that it has acquired Threesixty Services, a business support company, from British investment giant Abrdn for £14.6 million ($18.5 million) to boost its portfolio.
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July 03, 2024
Lufthansa's €325M ITA Air Takeover Gets Conditional EU Nod
Europe's antitrust authority said Wednesday that it has conditionally backed Lufthansa's plan to buy a 41% stake in ITA Airways for €325 million ($350 million) if the carriers hand over flight slots to rival airlines.
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July 03, 2024
Video Gaming Biz Agrees To EQT's £2.1B Takeover Offer
The board of Keywords Studios PLC said Wednesday that it has backed a £2.1 billion ($2.7 billion) takeover offer put forward by Swedish private equity firm EQT AB, a move that will pull another company from London's capital markets.
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July 02, 2024
Gambling Biz Settles €273M Buyout Dispute With Financier
Gambling hall operator MaxBet has settled a host of international legal disputes with Luxembourg-based financial holdings company Maximus stemming from a deal for Maximus to purchase various MaxBet-owned businesses that went south, lawyers for MaxBet told Law360 on Tuesday.
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July 02, 2024
£8.5M Property Deal Said To Defraud Creditors In Debt Row
A British Virgin Islands-registered company has asked a London court to declare that the transfer of an estimated £8.5 million ($10.8 million) property by one of its debtors was done to intentionally hinder the company's chances to reclaim the money it is allegedly owed.
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July 09, 2024
Lawrence Stephens Hires 2 Directors From Rosling King
Ann Ebberson and Alex Edwards have joined Lawrence Stephens Ltd. from Rosling King LLP as directors on the real estate finance and banking teams.
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July 02, 2024
FCA Approves PE Firm's £432M Bid For Wealth Manager
Wealth management firm Mattioli Woods said Monday that the U.K.'s financial regulator has given a green light to its approximately £432 million ($546 million) acquisition by London private equity firm Pollen Street Capital.
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July 02, 2024
Video Game Publisher Devolver Raises £8M Through Placing
Devolver Digital Inc. said Tuesday it has successfully raised about £7.9 million ($10 million) by issuing shares to investors, funds the video game publisher said will help bolster its balance sheet.
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July 02, 2024
Liechtenstein Bank To Buy Austria's Kantonalbank
Liechtensteinische Landesbank AG, a Liechtenstein-based lender known as LLB, said Tuesday that it agreed to buy Austrian bank Zürcher Kantonalbank Österreich AG in an all-cash deal. The purchase price was not disclosed.