Littlechild may scupper power deal

Article Abstract:

It is expected that the director-general of electricity supply, Stephen Littlechild, will demand that 5000 megawatts of electricity capacity be sold off by PowerGen as the price of approval for its acquisition of East Midlands Electricity. This would be the equivalent of half its coal powered generating stations. Mr Littlechild's recommendation is soon to be sent to the Director General of Fair Trading, and his recommendation will powerfully influence the person who has the ultimate power to stop the merger, the President of the Board of Trade. Such a sell off demand could scupper the merger anyway because so far PowerGen has said that it is only willing to sell 2000 megawatts of power.

Comment:

Must sell 5000 mw of electricity as part of for its acquisition of East Midlands Electricity as decided by ind director-general

Government regulation (cont), Electric Utilities, Electric Power Generation, Transmission and Distribution, Electric Power Generating, Electric Power Generation, PowerGen PLC, East Midlands Electricity PLC

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Bulmer buys US cider firm

Article Abstract:

The UK brewing company responsible for the Strongbow and Woodpecker cider brands, Bulmer, has announced that it has acquired Green Mountain Cidery . The US company has a 17% share of the cider market in the US with its Woodchuck brand, and the acquisition sees Bulmer increase on its 9% share in the US. The takeover is worth some US$ 14.4mn in cash. Bulmers decided to expand its operations in the US as competition in the UK from alcopops and cheap imported lager is becoming intense. Bulmer will invest substantially in Green Mountains operations. *

Comment:

Acquires US company Green Mountain Cidery for $14.4 mil in cash, US

United States, Foreign operations, Cider, All Other Food Manufacturing, HP Bulmer Ltd.

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UK: W&D REJECTS BOTTS APPROACH

Article Abstract:

Botts, the UK-based venture capital group, has seen its bid for Wolverhampton & Dudley (W&D), the largest regional brewery group in the UK, rejected. Botts had offered GB[pound] 5.00 per share, but W&D's management claimed the offer undervalued its business. The announcement of the rejection caused W&D's shares to fall GB[pound] 0.315, to close on Friday 18 August 2000 at GB[pound] 4.51. W&D's finance director, Ralph Findlay, refused to comment on rumours that the company's management might launch a buyout and take the company private.

Malt beverages, Alcoholic beverage industry, Wolverhampton and Dudley Breweries PLC

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