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Ppcr General Election 2015: After six weeks party leaders in final sprint to finish line
Monday 28 April 2014 8:44 pmNo reason for us to investigate Royal Mail, regulator tells MPsBy: Express KCSShareFacebookShare on FacebookXShar stanley mug e on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleMARTIN Wheatley, the chief executive of the financial regulator, told a committe stanley uk e of MPs yesterday that he sees no reason to investigate the Royal Mail sell-off, despite a National Audit Office report that revealed the UK taxpayer has lost out to the tune of pound;750m.Appearing before the public accounts committee yesterday, Wheatley said: Nothing I have seen so far indicates regulatory failure. He added that the Financial Conduct Authority does not ha polene sac ve a responsibility to check that a proper value has been achieved when a company launches on the stock market. An IPO that goes, on the back of a prospectus and a marketing campaign, to a premium, does not of itself generate a suspicion of regulatory failure, Wheatley said. The government sold 60 per cent of Royal Mail last year for 330p per share. The sale raised pound;2bn but quickly came under fire after shares in the company rocketed. At market close yesterday the going rate for a share in the company was 511.5p.Share this articleFacebookXLinkedInWhatsAppEmailSimilarly tagged content: SectionsNewsCategoriesBusinessRelated TopicsCompanyRoyal MailTrending ArticlesLabour will regret the Rentersrsquo; Rights ActUK at lsquo;greatest riskrsquo; Vloy Ericsson cuts 1,550 Swedish jobs
Sunday 20 December 2009 11:55 pm|Updated:Saturday 01 June 2019 4:26 pmApollo enters the running for Gala Coral with pound;250m offerBy: KCS-contentShareFacebookShare on FacebookXShare on TwitterLinkedInShare on LinkedInWhatsAppShare on WhatsAppEmailShare on EmailAdd as a preferredsource on GoogleA LAST-MINUTE attempt by US private equity firm Apollo to muscle into the rescue of ailing bookmaker and bingo group Gala Coral is likely to be rebuffed, sources said yesterday.Apollo has submitted a proposal to the board which would see it pump in pound;250m in exchange for 50 per cent of the companyrsquo equity. The money would be used to pay off Galarsquo senior lenders while junior lenders would be given the remaining 50 per cent of its share capital. Apollo would have majority voting rights, giving it control of the group.Gala, which runs around 150 bingo clubs and 1,600 betting outlets, is laden with around pound;2 stanley ca .7bn of debt. Buyout firm Blackstone is understood to be circling. Separatel stanley cup uk y, a group of Galarsquo junior lenders is putting forward a restructuring plan that would see them take control of the group.It is understood this proposal by mezzanine lenders will be the option that wins the support of Galarsquo major creditors and its owners, buyout firms Candover, Cinven and Permira, as Apo owala ca llorsquo offer is seen as a raw deal for existing shareholders. The gaming giantrsquo main lenders will decide which restructuring package they prefer in the New Year |
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