Inchcape deal kickstarts Middle East

Article Abstract:

ANZ Investment bank has advised Cupola Group on its $120 million purchase of Inchcape's Middle East business. This deal will allow Cupola to gain control of a regional network of 37 subsidiary and associate firms active in nine Arab countries. ANZ Director of Global Corporate Finance Vijay Sharma believes that Cupola's purchase could mark the beginning of increased merger and acquisition activity in the Middle East. ANZ arranged and underwrote a $60 million, five-year loan to cover the debt portion of the transaction.

Motor Vehicle Dealers, Motor Vehicle and Parts Dealers, New and used car dealers, Automotive dealers, Automobile dealers, Inchcape PLC, Cupola Group

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Take Hewden's advice: Don't appoint investment banks

Article Abstract:

Plant hire and construction equipment firm, Hewden Stuart of Glasgow, has made ten acquisitions and two divestments without investment banking advice. The company has sold its merchandising, quarrying and contracting operations, in a move to concentrate on core activities. Legal business was managed by Maclay Murray and Spens. Hewden Stuart has recently announced a 16.9% rise in interim pre-tax profit.

Hand and Edge Tool Manufacturing, Heavy construction equipment rental, Construction Eqp Leasing & Rental, Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing, Hand & Edge Tools, Hand and edge tools, not elsewhere classified, Contracts, Hand tools, Tools, Lease and rental services industry, Lease and rental services, Hewden-Stuart PLC, Construction equipment rental, Cutting tools

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