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The Vauxhall operation at Ellesmere Port in the north-west of England appears under serious threat as the UK car market continues to fall to new lows. As we covered in one of our earlier articles...
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Saturday 7th June 2008
While the ink may not yet have dried on their deal to buy a 23% stake in Bradford and Bingley, there are rumours that Texas Pacific Group is looking at a whole host of other UK banks with a view to taking more stakes in the sector. There have also been a number of other prominent investors mentioned, such as Blackstone, KKR and JC Flowers, as private equity firms look to take advantage of the recent weakness in the UK banking sector.
Indeed, we have even heard rumours of a possible bid for Bradford and Bingley and while no names where mentioned this is not beyond the realms of reality. If the sector were to become the centre of takeover activity it may offer a quick exit route for those at Northern Rock, and the chance to repay the government debt, but whether any investor would be able to refinance the £20 billion plus of debt at Northern Rock remains doubtful.
While the private equity firms are looking to acquire stakes in the sector it does not look as though banking shares are back in favour with the general investing public and pension funds. Time will tell who is correct in their stance. |
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