Guy Hands, the private equity tycoon, is exploring a £2.5bn bid for Quintain, the London-based property group, in an effort to establish an £8bn UK-wide real estate empire. Sky News has learnt that Mr Hands' buyout firm, Terra Firma Capital Partners, is examining an offer for Quintain through Annington, the giant residential property group it has controlled since 2012.Initial bids are due for Quintain, which is owned by Lone Star Funds, another private equity firm, early next month, and City sources expect a deluge of interest in it.The company has planning permission for thousands of rental homes in the area around Wembley Stadium, with the development scheduled to be completed by 2024.Buying Quintain would give Mr Hands a natural merger partner f...
The owner of Vauxhall says its Luton plant will make the new Opel and Vauxhall Vivaro vehicles in a decision that will safeguard 1,400 jobs.The new Vivaro van replaces the current model from 2019 and the plant's capacity is expected to increase to 100,000 vehicles a year.PSA Group, which owns the site, did not say how much money would be invested in the plant, describing it only as "substantial", but union Unite put the figure at £170m and that 450 jobs would be created.Carlos Tavares, chairman of PSA Group, said: "This is a major milestone for the future of the Luton plant and a key enabler to serve our ambitions in the commercial vehicle market."Business Secretary Greg Clark said the decision was a vote of confidence in Vauxhall's workforce and the UK's automotive sector."This investmen
TMZ/MEGASPOTTED: Chris was pictured placing his hands around a woman's neckThe Freaky Friday singer was seen placing his hands around the brunette's neck while in Miami.However, Rihanna's ex has taken to his Chris Brown Instagram page to insist the incident was just horseplay between himself and a pal.The photo saw the topless star, who was wearing an orange baseball cap, put his hands around the female's throat as she leaned backwards and had her hand over his.Meanwhile, another brunette in a red and leopard print dress seemed as though she was trying to intervene.INSTAGRAM/CHRIS BROWNSPEAKING OUT: The Freaky Friday singer said there is no need to defend himself “There is no need to even defend myself on the matter” Chris Brown The incident comes nine years after
The controversial sportswear tycoon Mike Ashley is nearing the final whistle as the owner of Newcastle United Football Club after receiving a formal takeover offer from Amanda Staveley, the financier.Sky News has learnt that Ms Staveley's PCP Capital Partners tabled a bid worth in the region of £300m to buy Newcastle from Mr Ashley late last week.It was unclear on Monday evening whether PCP was the only credible bidder for the club, although people close to the process said the logical next step would be to award Ms Staveley a period of exclusivity within which to negotiate a deal.That could come as soon as this week, according to insiders.PCP's money is a combination of Ms Staveley's equity and that of her major investors, which include funds based in the Middle East.Announcing his intent
NEW DELHI: Among the 20-odd bidders for insolvency-hit Jaypee Infratech’s housing, hospital and road projects, including some top names from India Inc, there is an entity with no experience of construction and probably no documents to show its net worth -- a group of flat buyers from Kasa Isles who are pitching to take over some of the apartment blocks and construct it themselves. Over 600 buyers from the 16 towers of the project in Noida’s Sector 129 have come together under the umbrella of Kasa Isles Welfare Association and submitted their proposal to the resolution professional appointed by the National Company Law Tribunal. Now, they have approached the insolvency resolution professional with a formal offer. Aman Behal, a core committee member, said the association will need around