A cheeky website about deals, dealmakers and anything else I find interesting. Edited by Ben Harrington. If you have a tip, want to discuss a story or have a subscription enquiry please feel free to email Betaville at [email protected]. Betaville can also be reached at Whats App, Signal or Telegram. Betaville's Twitter handle is @bharringtonw11 and you can message me via Twitter with stories.
Monday, 25 June 2018, 1:07 pm
The chairman of Telit Commuications has been kicked out of the business amid an acrimonious row with some of the company's shareholders and former directors.
The company's largest sharesholders have voted against the confirmation of Richard Kilsby at Telit's Annual General Meeting today. Below is a link to the RNS:..
Read more...
Sunday, 24 June 2018, 12:17 pm
The world’s largest private equity firm has put Ideal World on the market after it’s investment in the home shopping television channel turned sour.
People familiar with the matter said US buy-out giant Blackstone has appointed advisers from Deloitte to quickly find a buyer for Ideal Shopping Direct, a home shopping group that sells its products on Sky, Freeview and Virgin Media.
Ideal Shopping Direct’s main channel is Ideal World...
Read more...
Betaville IntelligenceFriday, 22 June 2018, 9:09 am
The mysterious Chinese company that has built a sizeable shareholding in Telit Communications has increased its stake in the business, raising speculation it is getting closer to making an offer for some or all of the business.
This morning Run Liang Tai Management disclosed it has increased its stake to 15.2pc from 14pc on the UK's regulatory news service...
Read more...
Betaville IntelligenceWednesday, 20 June 2018, 10:29 pm
It took a while but Zenith Energy finally confirmed Betaville's UNCOOKED ALERT about the company carrying out an equity fund raising.
Below is a link to the RNS:
https://www.investegate.co.uk/zenith-energy-ltd--zen-/rns/placing-and-subscription-to-raise--2-02-million/201806201630020436S/..
Read more...
Wednesday, 20 June 2018, 9:25 pm
It has been brought to Betaville's attention that Investment bankers are all over WPP chairman Roberto Quarta, angling for permanent mandate as the company's financial advisor.
And you can see why corporate financiers are aggresively targeting the marketing services group set up by Sir Martin Sorrell in 1985...
Read more...
Exclusive to Betaville Intelligence subscribersTuesday, 19 June 2018, 9:43 am
Betaville IntelligenceFriday, 15 June 2018, 12:40 pm
Zenith Energy may be looking to raise up to £5 million.
Zenith, which has the largest onshore oilfield in Azerbaijan, is said to be working on an equity fundraising, according to sources claiming to be familiar with the matter.
It's thought the company is looking to raise fresh capital via a placing of new shares with investors at around 4p share, said these sources claiming to be familiar with the matter...
Read more...
Exclusive to Betaville Intelligence subscribersFriday, 15 June 2018, 8:28 am
Thursday, 14 June 2018, 9:39 am
The company behind a guide book for second-hand car dealers is set to sold for £250 million by a secretive private lender.
City sources said Autovista, which owns the well-known Glass’s Guides, has been put on the block by Hayfin, a specialist debt investor.
Glass’s Guides is used by second-hand car dealers to check prices on used cars.
Advisors from American investment bank Houlihan Lokey have been drafted in by Hayfin to find a buyer for Autovista...
Read more...
Betaville IntelligenceWednesday, 13 June 2018, 3:54 pm
Diamondback Energy has emerged as one of the companies circling Energen Corporation, the US oil and gas explorer.
According to sources claiming to be familiar with the matter, Diamondback Energy is working with bankers from Goldman Sachs on a potential offer for Energen, whose main assets are in the Permian Basin of west Texas and New Mexico...
Read more...
Betaville IntelligenceWednesday, 13 June 2018, 3:27 pm
UK Oil & Gas is said to be close to launching its equity fundraising.
According to sources claiming to be familiar with the matter, the company - known as the Gatwick Gusher after it claimed in 2015 to have discovered as much as oil as there is in the North Sea near the London airport - is working on raising funds at around a 10pc discount to the current share price...
Read more...
Betaville IntelligenceTuesday, 12 June 2018, 7:02 pm
It emerged today the billionaire chairman of Hennes & Mauritz has been selling a chunk of his stake in Hexagon, the Swedish measurement technology business.
Local media claim Steffan Persson (via his Ramsbury vehicle) has slotted around 4.2 million Hexagon shares in May, raising around 2 billion Swedish Kronas.
Meanwhile, shares in Hennes & Maurtiz - the beleguered fashion retailer founded by Persson's grandfather - jumped almost 5pc during the session...
Read more...
Betaville IntelligenceMonday, 11 June 2018, 5:14 pm
Below is a link to a truly brilliant piece of investigative journalism by the Financial Times.
https://ft.trib.al/v52x9f4..
Read more...
Betaville IntelligenceMonday, 11 June 2018, 9:54 am
Boston Scientific Corporation, the US medical devices maker, has come under the spotlight amid talk it is attracing takeover interest from a rival.
According to sources claiming to be familiar with the matter, a mystery suitor is said to be circling Boston Scientific.
One source claiming to be familiar with the matter suggested Boston Scientific may have already received a takeover proposal from a suitor...
Read more...
Friday, 8 June 2018, 1:35 pm
PEI Media - publisher of one of the journals read by many of the City's bankers, lawyers and buy-out barons - is about to be bought by Bridgepoint Development Capital for over £120 million.
According to sources familiar with the matter, a takeover of PEI Media by BDC could be announced in the next few days.
This would be the second (possibly third time) Betaville has broken a story about PEI Media since this website first started in 2014...
Read more...
Thursday, 7 June 2018, 9:28 am
The company that publishes the Farmers Guardian is set to be sold by it's private equtiy owners for up to £150 million.
Sources familiar with the matter said Lyceum Capital has hired advisers from Raymond James to find a buyer for AgriBriefing.
As well as publishing the Farmers Guardian, AgriBriefing creates and sells prices for eggs, red meat and animal feed.
The company also runs Britain's largest farm machinery and equipment show - Lamma...
Read more...
Wednesday, 6 June 2018, 4:54 pm
Some of the City's top bankers, lawyers and industry executives have emerged as investors in a company whose founder is engaged in an almighty row with London-listed AA.
According to sources familiar with the matter, Giles Fitzpatrick, Michael Symons and Kevin Gaskell were seed investors in Motoriety, an app that links motorists to repair garages that was set up by entrepreneur Lucy Burnford...
Read more...
Betaville IntelligenceWednesday, 6 June 2018, 3:43 pm
OneView Group, a company that specialises in selling cloud-based software products, is said to be looking to raise up to £5 million via an equity fundraising.
According to sources claiming to be familiar with the matter, OneView Group - formerly known as Armour Group - is working on a plan to raise between £3 million and £5 million...
Read more...
Tuesday, 5 June 2018, 10:07 pm
Cabinet rows over Brexit failed to stop the very top echelons of government from attending Cavendish Corporate Finance's 30th birthday party tonight.
Theresa May, Prime Minister of the United Kingdom, Philip Hammond, Chancellor of the Exchequer, and Matt Hancock, Culture Secretary, all made it down to the shindig at Lancaster House, a neo classical mansion built for the second son of King George III in 1825...
Read more...
Monday, 4 June 2018, 9:43 pm
Loyal followers of Betaville's work might have spotted a piece written in this weekend's The Sunday Times business section about the imminent £1.5 billion sale of Cory Riverside Energy by Strategic Value Partners. Well, in case you didn't I have pasted a link below:
https://www.thetimes.co.uk/article/tycoon-li-ka-shing-eyes-waste-giant-w6p2cl93s..
Read more...
[Disclaimer - the information on Betaville does not consitute any form of investment recommendation and is not intended to be relied upon by readers in making, or refraining from, any investment decisions].