UK: KNUTSFORD IN WASSALL TAKEOVER TALKS

Article Abstract:

Knutsford, the acquisition vehicle of some entrepreneurs headed by former Asda chairman Archie Norman, is in takeover talks with industrial conglomerate turned buyout fund Wassall. The takeover is a prelude to a major acquisition in the retail sector. The purchase allows Knutsford to gain access to Wassall's list of institutional investors and to cash reserves of GB[pound] 350mn. Wassall investments include ownership of TLG Lighting.

Other Footwear Manufacturing, Electric Lamps, Wholesale Trade, Capital & Loanable Funds, Nonrubber Footwear, Electric Lamp Bulb and Part Manufacturing, Lighting equipment and supplies industry, Wholesale industry, Footwear industry, Lighting equipment industry, Lamps, Footwear, Knutsford, Wassall PLC

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UK: DUKE STREET MAY NOT BID FOR HOMEBASE

Article Abstract:

Duke Street Capital, the venture capital firm that controls both Wickes and Focus Do It All is threatening to pull out of the bidding for Sainsbury's Homebase DIY business as it is reportedly frustrated by the way in which UBS Warburg is handling the process. Other bidders are thought to be Leroy Merlin of France and Kohlberg Kravis Roberts, the American buy-out specialist. The sale of Homebase is the most likely outcome, despite rumours of alliances, joint ventures, or disposal.

Supermarkets and Other Grocery (except Convenience) Stores, Grocery stores, Supermarkets, Do-It-Yourself Building Materials (Ret, Home Centers, Lumber and other building materials, Hardware Stores, Building materials industry, Home center stores, HomeBase Inc., J Sainsbury PLC, Do-it-yourself products industry, Duke Street Capital

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UK: I-SPIRE IN REVERSE TAKEOVER BY GLENCHEWTON

Article Abstract:

Internet incubator portfolio, I-Spire, is to be swallowed in a reverse takeover by former household goods distributor Glenchewton. John Porter, who controls 70% of I-Spire, will become the executive chairman of the new company and own 60% of the group. It will take on the I-Spire name. Glenchewton will fund the deal by issuing new shares. It values the Internet investment vehicle at GB[pound] 75mn. The new company will have access to AIM.

Retail Trade, Glenchewton, I-Spire

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