Canal sales to unlock a waterside boom

Article Abstract:

In a move to regenerate large parts of the UK's 2,000 mile canal network which has fallen into disuse, as well as generating millions of pounds for the Exchequer, the state-owned British Waterways, is to sell parts of the network to property developers in return for being responsible for the running and upkeep of particular stretches of canals. However, the Inland Waterways Association, the charity which has restored over 300 miles of canals, believes that the proposal will lead to the neglect of canals in rural areas, although it admits that canals in industrial areas such as the Leeds and Liverpool canal will benefit from the scheme. Under the deal, private companies would be allowed to construct offices and houses, but with many people using canals for leisure and holidays, another area of concern is that these developments may restrict access.

Comment:

To sell parts of canal network to property developers in return for being liable for running & upkeep of particular stretches

Inland Water Freight Transportation, Canals, British Waterways

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PDFM set to be sold for 1.8bn

Article Abstract:

The Swiss bank, UBS, is looking to sell its UK fund manager subsidiary, PDFM, for up to GB 1.8bn. The sale appears to have been prompted by the merger between UBS and fellow Swiss bank SBC. There have been reports of clashes between PDFM and Brinson, SBC's US based asset management business. As a result it is believed that PDFM management told UBS that it would prefer to be sold than merged with Brinson. There is various speculation about potential bidders for the business. Large US banks have been suggested, including Goldman Sachs, but large European banks could also be in the picture. ABN Amro have been seeking a money management business and the UK Halifax bank has the resources and an interest in the sector.

Comment:

Seeks to sell its UK fund manager subsidiary, PDFM, for up to GBP1.8 bil

Open-End Investment Funds, Investment Funds & Trusts, Parent-to-subsidiary activities, UBS AG, PDFM Ltd.

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