PRESS DIGEST – British business – Oct 19

The Daily Telegraph

PRIVATE EQUITY FIRMS TARGET BLACKS LEISURE

Outdoor retailer Blacks Leisure (BSLA.L: ) has received at
least two indicative takeover approaches from private equity
firms and has appointed advisory firm McQueen to oversee the
bidding process.

BP DESIGNS CAP FOR NORTH SEA BLOW-OUTS

BP (BP.L: ) is designing a giant cap for containing North Sea
oil spills after admitting the industry was not prepared for its
Gulf of Mexico oil spill earlier this year.

ELECTRIC CAR MAKER APPEALS TO RIVAL’S OWNERS

Electric carmaker Liberty (RS3.TG: ) has appealed directly to
shareholders in loss-making rival Tanfield (TAN.L: ) after the
manufacturer rejected Liberty’s proposals to buy a majority
stake in the company.

ROCKHOPPER PLANS 200MLN POUND PLACING

Rockhopper (RKH.L: ) aims to raise money to drill more wells
in the Falkland islands through a 200 million pound ($317.7
million) placing led by Bank of America Merrill Lynch and
Cannacord.

The Times

PREMIER OIL MULLS $500 BID FOR BP’S PAKISTAN ASSETS

UK-based Premier Oil (PMO.L: ) is considering a $500 million
bid for BP’s gas production business in Pakistan in a mover to
bolster its position in the South Asian nation.

ROYAL BANK OF CANADA BUYS BLUEBAY

Two co-founders of BlueBay Asset Management (BBAY.L: ) could
share 162 million pounds after agreeing to sell their
fixed-income fund manager to Royal Bank of Canada (RY.TO: ).

KUWAIT PUTS LONDON PORTFOLIO UP FOR SALE

St Martins, the property division of Kuwait’s sovereign
wealth fund, has put part of its 900 million pound portfolio up
for sale in one of the biggest batches of property to be put on
the market since the downturn began.

The Guardian

PETROL PRICES EXPECTED TO SOAR

Petrol prices are expected to reach an all-time high in the
next few weeks as a combination of higher oil prices, raised
fuel duty and the blockade of Marseille by French dock workers
raise costs at the pumps.

(Summary compiled by Reuters)
($1=.6295 Pound)

PRESS DIGEST – British business – Oct 19