The last piece in the jigsaw

Article Abstract:

The state-owned Building Research Establishment (BRE) has been sold by the UK government to a management buyout team. The establishment, which focuses on specialist building research, was formerly part of the Department of the Environment. Most of BRE's business is government-based, with the remainder from European Union and industrial research programs. The management buyout team, backed by Barclays Acquisition Finance, comprises experienced businessmen from both the private and public sector. The deal is worth 8.2 million pounds sterling, of which the government received 1.7 million pounds sterling.

Scientific Research and Development Services, Research & Development-Government, Building research, Government research, Building Research Establishment

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Power to the people

Article Abstract:

Powerhouse Retail, an electrical retail chain, was formed in 1992 following the merger of outlets owned by the Southern Electricity Board and the Eastern Electricity Board. It was subsequently acquired by conglomerate Hanson through its acquisition of Eastern Electricity, but was a loss-making business. A management buyout team, backed by adviser Ernst and Young Birmingham, acquired Powerhouse Retail in 1996. Some 122 of the original 230 outlets remain and it is expected that the new company will have annual sales of 145 million pounds sterling.

Household Appliance Stores, Retail stores, Birmingham, England, Stores, Appliance stores, Powerhouse Retail

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Municipal sell-off

Article Abstract:

Chongqing, an old industrial base in China, is desperately trying to sell off state enterprises to private firms. State enterprises all over China are suffering economically due to competition as weaker domestic demand. Low to middle-ranking officials are making it difficult to support the purchase of state enterprises by private businessmen.

China, Municipal corporations

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