Fleming cements ties with Keswicks

Article Abstract:

Merchant bank Robert Fleming has reached an agreement with Jardine Matheson, the main Hong Kong investment vehicle of the Keswick family, under which Robert Fleming will acquire full control of Jardine Fleming, the Far Eastern investment banking joint venture. The Keswick family will increase its stake in Robert Fleming from 5% to 17%. Jardine will receive 40 million pounds sterling in cash and new Robert Fleming shares, with the stake held by Fleming family members falling from 35% to just over 30%. Some observers have expressed reservations about Fleming's decision to increase its exposure to Asia.

Comment:

Will relinquish full control to Robert Fleming and Co. Ltd.

Security brokers and dealers, Jardine Fleming Group Ltd., Robert Fleming and Company Ltd.

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Dragging Lazards into the 21st century

Article Abstract:

Corporate restructuring announced by Lazards in Jun 1999 will include a deal allowing the Lazard partners to buy out media group Pearson, the largest outside shareholder, for 410 million pounds sterling. It was only a matter of time before Lazards broke off its links with Pearson. However, change has been implemented only very slowly at Lazards. It is not clear whether just simplifying its structure and uniting the operations in London, England, New York, NY, and Paris, France, will be sufficient to allow Lazards to remain competitive.

Comment:

Will be acquired by Lazard Group

Asset sales & divestitures, Pearson PLC, Lazard Group Inc.

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Piling up misfortune

Article Abstract:

Many observers in the City of London feel that Schroder faces an uncertain future as an independent merchant bank. This is particularly the case following the decision to drop plans for the $400 million purchase of Beacon, a small Wall Street mergers and acquisitions boutique. Schroder prides itself on being able to undertake deals for clients, and was therefore caused great embarrassment when its own deal collapsed. Schroder seems to be losing ground in several areas, but especially in its UK domestic operations.

Strategy & planning, Management, Company Profile, Schroder and Co.

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