LONDON, June 7 (Reuters) – JP Morgan’s top media
sector banker Harry Hampson, who worked on the sale last year of
Elisabeth Murdoch’s Shine Group to News Corp, is to
become head of the bank’s Financial Sponsors Group which advises
private equity firms, for Europe, the Middle East and Africa,
according to a memo seen by Reuters.
Hampson is taking over from Karen Simon, who decided to move
back to the United States as vice-chairwoman of investment
banking, global oil and gas, an area that she had previously
covered earlier in her career with the bank.
LONDON (Reuters) – The Glencore-Xstrata (GLEN.L: Quote, Profile, Research, Stock Buzz) XTA.LN merger represents a $200 million-dollar pay-day for bankers and other advisers at a time when blockbuster deals are few and far between. None, though, have played a more striking role than former Citigroup (C.N: Quote, Profile, Research, Stock Buzz) grandee turned independent go-between Michael Klein.
It was Klein’s ability to get the two principals, Glencore chief executive Ivan Glasenberg and Xstrata’s Mick Davis, to agree on a valuation which helped clinch the deal, said several bankers who advised on the mammoth mining and trading marriage.
LONDON (Reuters) – Private equity firm Permira PERM.UL is up against U.S. asset managers and an insurance group in the race to buy the $1 billion asset management arm of bailed-out Franco-Belgian bank Dexia (DEXI.BR: Quote, Profile, Research, Stock Buzz), people familiar with the situation said.
Affiliated Managers Group (AMG.N: Quote, Profile, Research, Stock Buzz), Federated Investors (FII.N: Quote, Profile, Research, Stock Buzz) and New York Life Insurance NYLIN.UL are considering binding bids for Dexia Asset Management, three people said.
LONDON (Reuters) – Glencore will this week move into the final stage of its long-awaited $30 billion takeover of miner Xstrata, as shareholders are sent detailed documents on the deal, kicking off a last charm offensive ahead of July votes.
But Xstrata investors hoping for an improvement to the all-share offer are likely to be disappointed, at least for now.
LONDON (Reuters) – Anthony Parsons, vice-chairman of British mergers and acquisitions at Deutsche Bank (DBKGn.DE: Quote, Profile, Research), has left to join boutique investment bank Greenhill & Co (GHL.N: Quote, Profile, Research), two people familiar with the matter said.
Parsons, one of the lead advisers to security firm G4S Plc (GFS.L: Quote, Profile, Research) on its failed $8.2 billion bid last year for Danish cleaning company ISS, joins a string of senior bankers leaving major banks for boutiques, a trend driven by generational change and smaller bonuses in the years since the financial crisis.
May 22 (Reuters) – Belgium’s largest cable operator Telenet
is talking to private equity firms about making a
joint bid for BASE, the country’s third-biggest mobile phone
company, people familiar with the process told Reuters.
Blackstone, Cinven, Providence, Bain and KKR
are among possible partners, the people said.
LONDON, May 22 (Reuters) – Glencore’s bruised stock
could get a boost after a lock-up on a large slice of employees’
shares expires, in a welcome lift for the commodities trader as
its $30 billion bid for miner Xstrata nears the final
The release on Thursday of 2.7 billion shares – a year after
Glencore’s record stock market debut – could mean a technical
“squeeze” on the stock, analysts said. The increase in shares
available to be traded translates into a greater weighting in
the FTSE 100 index, prompting index-tracking funds to
buy more shares.
LONDON (Reuters) – Addressing Nokia Oyj employees in January 2011, Chief Executive Stephen Elop – at that point only four months into the job – dramatized the company’s predicament by comparing it to standing on a burning platform.
Nearly a year and a half on, and with Nokia’s Lumia mobile phone range failing so far to revive sales, its position still looks frail. Its shares have lost 90 percent in five years and its debt is rated junk by two of the three major ratings agencies.
LONDON, May 4 (Reuters) – Dexia’s planned sale of Turkish
unit Denizbank will not proceed until after an expected
management change at the bailed-out Franco-Belgian bank, sources
familiar with the situation said.
The existing team of Chief Executive Pierre Mariani has been
pushing unsuccessfully for buyers to pay at least 3 billion
euros ($3.95 billion), but speculation about a management
shake-up means the process has lost impetus.
LONDON, May 2 (Reuters) – Spain is sounding out investment
banks including Credit Suisse, Goldman Sachs
and UBS as it seeks a credible fix for its banks
roiled by a collapse in real estate prices and now threatening
the creditworthiness of Spain itself, sources familiar with the
Spain has repeatedly said it will not ask for European Union
or IMF money to solve the problem of its banks, hit by billions
of euros in losses after the bursting of a decade-long property
bubble in 2008. Instead, the central bank is consulting about
setting up a holding company to value and sell off the real