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Oct 19, 2014

As IPO markets stumble, private equity buyers prepare to swoop

LONDON, Oct 19 (Reuters) – Across Europe, companies hoping
to list are having their plans dashed by plunging equity prices.
But what’s bad for public stock markets may be good for private
equity firms.

Having started the year with a record $1 trillion cash pile,
private equity funds have found few chances to spend it, despite
pressure from investors wanting them to put the money to work.

Oct 17, 2014

Not as high as its heels, but Jimmy Choo ticks up on market debut

LONDON (Reuters) – Jimmy Choo (CHOO.L: Quote, Profile, Research, Stock Buzz) inched higher on its London stock market debut, watched closely by even the least fashion-conscious of bankers after a flurry of cancelled listings across Europe.

The luxury shoemaker’s stock market performance is viewed by many as a test of whether upcoming offerings can withstand the economic weakness and attendant market turbulence that prompted French energy services business Spie and Italian cosmetics company Intercos to pull their proposed listings last week.

Oct 16, 2014

London show holds up magnifying glass to Sherlock Holmes

LONDON (Reuters) – How do you make an exhibition about a man who never existed?

The Museum of London show on Sherlock Holmes, which opens on Oct. 17 after two years of preparation, acknowledges the conundrum with its title, “The Man Who Never Lived and Will Never Die”.

Oct 16, 2014

Jimmy Choo seen pricing London float at bottom of range

LONDON/PARIS (Reuters) – Luxury shoemaker Jimmy Choo [IPO-JIM.L] is expected to set its London flotation price at 140 pence a share, the bottom of its indicative range, two sources familiar with the matter said on Thursday, amid declining enthusiasm for new issues.

The price values the company at 546 million pounds ($874 million), well below the initially hoped for top market value of 702 million pounds. The firm had first set a price range of 140-180 pence before narrowing it to 140-160 pence earlier this week. Trading is due to begin on Friday.

Oct 15, 2014

CVC in exclusive talks to acquire Finland’s Paroc – sources

STOCKHOLM/LONDON, Oct 15 (Reuters) – European private equity
firm CVC is in exclusive talks to acquire Finnish
insulation material maker Paroc, two sources familiar with the
matter said on Wednesday.

Reuters reported in August that CVC had submitted
first-round bids for the asset along with TPG, Nordic
Capital, BC Partners and Cinven, with bids valuing the
company between 700 and 750 million euros ($950 million).

Oct 15, 2014

Sliding markets force UK bank Aldermore to abandon listing

LONDON (Reuters) – British bank Aldermore [IPO-ALDE.L] has canceled its London initial public offering (IPO), blaming sliding equity markets as it joined a slew of European firms that have pulled listing plans in recent weeks.

The decision to scrap the offering, which could have valued the firm at about 800 million pounds ($1.3 billion), casts a shadow over the prospects of the bigger and more widely known Virgin Money [IPO-VMH.L], another bank seeking to list this month.

Oct 13, 2014

Jimmy Choo narrows IPO price to bottom half of range-sources

LONDON, Oct 13 (Reuters) – Luxury shoe maker Jimmy Choo
expects its initial share sale to be priced between
140 pence and 160 pence a share, the bottom half of its
preliminary guidance of 140-180 pence, two sources familiar with
the matter said on Monday.

That would value the company, which is aiming to list a 25
percent stake in London, at up to 624 million pounds ($1
billion), below the initial top target of 702 million.

Oct 10, 2014

Tieto, Apax among bidders for Norway IT firm Evry: sources

LONDON (Reuters) – Finnish technology firm Tieto (TIE1V.HE: Quote, Profile, Research, Stock Buzz) and European private equity firm Apax [APAX.UL] are among the bidders for Evry (EVRY.OL: Quote, Profile, Research, Stock Buzz), one of the Nordic region’s largest IT services companies, four sources familiar with the matter said on Friday.

Evry, which has a current market capitalization of 4.57 billion Norwegian crowns ($701.2 million), said in August that it was considering selling itself, sending shares up as much as 35 percent.

Oct 10, 2014

Tieto, Apax among bidders for Norway IT firm Evry – sources

LONDON, Oct 10 (Reuters) – Finnish technology firm Tieto
and European private equity firm Apax are
among the bidders for Evry, one of the Nordic region’s
largest IT services companies, four sources familiar with the
matter said on Friday.

Evry, which has a current market capitalization of 4.57
billion Norwegian crowns ($701.2 million), said in August that
it was considering selling itself, sending shares up as much as
35 percent.

Oct 9, 2014

Italy’s Intercos pulls IPO as European listings falter

MILAN, Oct 9 (Reuters) – Italian cosmetics company Intercos
abandoned its public share offering on Thursday, blaming
deteriorating financial market conditions that have forced other
companies across Europe to re-think their listing plans.

The company pulled the plug on the offer after failing to
fully cover its sale of shares worth up to 218 million euros
($277 million), one source said.