Heading for the European summit

Article Abstract:

The European market for management buyouts has good growth potential, with British equity houses seeking to invest about 50% of their funds in continental Europe and 50% in the UK by the year 2000, compared with 30% in Europe and 70% in the UK in 1997. The Italian, Scandinavian, German and French markets are perceived as offering the best potential. Equity houses are looking towards continental Europe because of the high pricing in the UK, although there is insufficient exit liquidity in Europe. 3i is setting up offices throughout Europe, while Cinven plans to target major deals from the UK.

Foreign operations, Western Europe, Management buyouts

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Legal & General deal goes down to the wire

Article Abstract:

Venture capital company Legal and General Ventures has acquired a 79.5% stake in Cable Management Ireland (CMI) for 46 million Irish pounds. US businessman Tom Keaveney sold his majority stake in the cable TV operator to a management buyout team, led by Ray Doyle, managing director. CMI is Ireland's third-largest cable operator and has some 50,000 subscribers. Legal and General is optimistic about the future of the company following the deregulation of Ireland's telephone network.

Cable Networks, Cable and other pay TV services, Cable TV Systems Operators, Mergers, acquisitions and divestments, Cable television broadcasting industry, Cable television, Television equipment industry, Legal and General Ventures Ltd., Cable Management Ireland

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Cinven

Article Abstract:

Venture capital house Cinven has dealt with 6 billion pounds sterling worth of transactions since 1993 and is funded by financial institutions and UK pension schemes. Cinven was originally owned by British Coal Pension Funds, and was bought out by a management team in Oct 1995. Targeting UK and European management buy-ins and management buyouts valued at over 50 million pounds sterling will be the focus of Cinven's strategy for 1998.

United Kingdom, Planning, Company Profile, Cinven (UK)

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