AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Wallem gets close to V.Ships.
(From Lloyds List)
Byline: Ownership links created by $30m deal, writes David Osler
CLOSE Brothers Private Equity has bought a 45% stake in V.Ships, the world's largest shipmanagement concern.
Intriguingly, Lloyd's List can also reveal that the $30m deal creates indirect ownership links between the Monte Carlo-based giant and its Hong Kong rival, Wallem.
Wallem is 74% owned by Caledonia Investments, the company built on the Cayzer family's Union Castle 'old money' shipping fortune, which also owns an 18% stake in Close Brothers.
Rival shipmanagers were quick to point out that the Far East is, relatively speaking, a weak spot for V.Ships.
Given that private equity players are usually keen to grow businesses over three to five years before taking a profit via a so-called 'exit strategy', there was speculation that the tie might provide a platform for a closer relationship.
- Stewart raid on Close Brothers team stacks the odds in favour of Cenkos.
- Newspaper article from: Sunday Business (London) May 21, 2006 700+ words
...people from rival firm Close Brothers. Stewart, who founded...secured the services of Close Brothers' entire investment trust team, a huge loss for Close Brothers. The team is recognised...regarded sales team jumped ship from investment bank...
- Close Brothers Group plc
- Reference information from: International Directory of Company Histories January 1, 2001 700+ words
Close Brothers Group plc 10 Crown Place London EC2A...International Trade Financing Small but steady Close Brothers plc is the last independent merchant...industry ’ s global giants, Close Brothers has carved out a strong niche among...
- Close Brothers sells corporate finance arm to Daiwa.
- Magazine article from: CPI Financial June 2, 2009 700+ words
...cpifinancial.net (Staff Writer) Close Brothers Group said it has entered into a binding...Securities SMBC Europe for the sale of Close Brothers Corporate Finance Holdings, its corporate...million (approx $110.1 million). Close Brothers will receive gross consideration of...
- Investment banking profits double at Close Brothers.
- Newspaper article from: Financial News March 1, 2004 700+ words
Byline: Caroline Meehan Close Brothers Group, a UK-listed investment...pounds sterling]53.4m, takes Close Brothers close to record levels of [pounds...trading arm, doubled, said Close Brothers in its interim results on Monday...
- Close Brothers notches up 21st annual increase
- Newspaper article from: The Independent - London Jill Treanor Banking Correspondent September 24, 1996 700+ words
Close Brothers, the merchant banking group, yesterday...HSCF) business bought in May. Close Brothers said it had not suffered from a wave...total dividends to 10p per share. Close Brothers' shares advanced by 3.5p to 343...
- BioProgress Appoints Close Brothers as Financial Adviser.
- Press release article from: Business Wire November 28, 2000 700+ words
...today announced the appointment of Close Brothers Corporate Finance Limited ("CBCF...pleased to announce the appointment of Close Brothers as the Company's financial adviser...Muncaster, Chairman & CEO, "The Close Brothers team immediately grasped the full potential...
- Close Brothers doubles its money on SP Systems.
- Newspaper article from: Financial News July 19, 2002 700+ words
Byline: William Hutchings Close Brothers Private Equity has sold SP Systems...sterling75m of equity, will give Close Brothers Private Equity an annualised...company that is in distress. Close Brothers Private Equity bought SP Systems...
- Close Brothers rejects offer.
- Magazine article from: Investment Adviser November 12, 2007 700+ words
Investment bank Close Brothers rejected a bid offer last week...entire issued share capital of Close Brothers, with Cenkos hoping to acquire...over the companies banking unit. Close Brothers responded by saying that the offer...
