THE LATEST business news in brief as Opel’s European output could be affected by the weak car market and HMV lenders are hopeful that the music retailer can revive its fortunes without the need to hand over control to Apollo Global Management.
Lenders keen to get HMV back on track
HMV’s lenders are hopeful that the music retailer can revive its fortunes without ceding control to private equity firm Apollo Global Management.
The chain had debts of £176 million as of 27 October and has warned it could breach its covenants at the end of January. Apollo bought 10 per cent of HMV’s debt earlier this month.
Opel output could be hit by slowdown
Opel, the European unit of GM, is planning to cut production by more than 10 per cent in 2013 in light of the weak car market, a German magazine said yesterday.
Opel declined to go into detail, saying only: “We want to keep our market share in Europe in 2013 stable.”
KKR linked with bid for Auto Trader firm
A UNITED States investment giant is said to be pondering a £1.8 billion bid for the company behind the car buyers’ bible Auto Trader.
Kohlberg Kravis Roberts is among a number of private equity companies circling Trader Media Group, according to a Sunday newspaper report.