Ex-InterCity chief makes 15m pounds sterling from Angel Trains sale

Article Abstract:

Royal Bank of Scotland has reached a 395 million pounds sterling deal to purchase GRS, the parent company of privatized rolling stock concern Angel Train Contracts. Most of the money will be shared by Nomura, Babcock and Brown, a leasing consultancy, and private consultancy concern Prideaux and Associates, owned by John Prideaux, former head of Intercity. Royal Bank of Scotland will also take over more than 600 million pounds sterling of securitized loans, giving Angel's assets a value of 1 billion pounds sterling.

Railroad Rolling Stock Manufacturing, Railroad equipment, New Railroad Cars, Railroad equipment industry, Mergers, acquisitions and divestments, Finance, Royal Bank of Scotland PLC, Railcars, Nomura and Company Ltd., Prideaux, John, Angel Train Contracts, Babcock & Brown Holdings Inc., Prideaux and Associates

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Pru ups stakes in battle for Northern

Article Abstract:

Prudential, the largest shareholder in Northern Electric, is seeking to assist the latter company in fighting a hostile takeover bid from CalEnergy by offering to purchase Northern Electric shares if other fund managers who had previously accepted an offer from CalEnergy go back on their decision. It is believed that US bank Salomon Brothers has already sold its stake to Prudential, and that Goldman Sachs has also been approached. Prudential's move could shift the balance of control back towards Northern Electric.

Planning, Electric utilities, Securities, Northern Electric PLC, CE, CalEnergy Company Inc.

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