CVC Capital Partners are entering talks for one of the biggest buyout funds since the financial crisis.
The private equity firm that owns Formula One and Legoland Parks is understood to have entered talks with potential investors to raise an €11 billion (£8.9bn) buyout fund, one of the largest since the financial crisis.
• Sapphire Land – A property company based in the British Virgin Islands has reportedly bought £2.6 million worth of land along Edinburgh’s waterfront from the administrators of developers Applecross, FM Developments and Gregor Shore. The land is said to have been worth at least £40m in 2008.
• SSE – Utilities giant chief executive Ian Marchant has spoken out about the UK government’s Energy Bill, warning that its plans could add even more than expected to consumers’ bills and could threaten the credit ratings of electricity companies by introducing month–by–month variances in subsidy levels.
• Wonga – The short–term lender and shirt sponsor of Hearts football club is believed to have held talks with bankers to raise a £200m bond to fund its expansion plans.
• Bank of England – Deputy governor Paul Tucker could be named as the next governor of the Bank of England as early as this week, according to weekend reports. Tucker is the bookies’ favourite to succeed Sir Mervyn King next summer.
• Virgin Money – Sir Richard Branson’s “challenger bank” has reportedly raised £1bn from institutional investors and other banks to fund its expansion strategy and to boost its lending. Two-thirds of the bonds, which were backed by Virgin’s mortgage book, are thought to have been bought by other UK bands.