Coats sells, but keeps stand

Article Abstract:

The textured jersey operation and yarns & fabrics division of textile concern Coats Viyella of the United Kingdom have been acquired by a 'Newco' joint venture established by a management team. The acquisition cost 89.4 million pounds sterling in total. The leveraged joint venture is similar to a management buyout, but Coats Viyella will take a 19% stake in the new joint venture company. Newco has been formed with the managed funds of Legal & General Ventures. Coats Yiella aims to concentrate on its core businesses of homewares, engineering, clothing, fashion retail and thread.

Broadwoven Fabric Mills, Broadwoven Fabrics, Textured Knitting Yarns, Yarn Texturing, Throwing, and Twisting Mills, Investments, Legal and General Ventures Ltd., Textured yarns

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Coats takes the stake

Article Abstract:

Coats Viyella's fabric and yarns division is an inedependent firm. The owner is Coats Legal and General Ventures (LGV). The division was created with the yarns and fabrics operations of Coats Viyella and Tootal, acquired in 1991. Coats decided to sell the division in Sep 1994, and an auction process was carried out from Nov 1994. Completion was achieved in Mar 1995. LGV has paid 89.4 million pounds sterling. A flotation is planned btween three and four years after 1995.

Textile Mill Products, Textile Mills

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Coming to the rescue of Holvis. (BBA's acquisition of Holvis)

Article Abstract:

A hostile takeover bid for Holvis of Basel, Switzerland, was launched by International Paper of the US in April 1995. Holvis comprised a now-woven textiles division, Fiberweb and a paper distribution group, Muhleback. However the offer was rejected and BBA, an industrial group, expressed its interest in Fiberweb, and eventually achieved its goal of acquiring the company, along with Muhlebach, which it eventually sold to Arjo Wiggins Appleton.

TEXTILE MILL PRODUCTS, All Other Textile Product Mills, Apparel Textiles, Clothing, BBA Group PLC, Holvis AG

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