Lifeline for Jarvis as Tube Lines sold
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Troubled engineering and construction group Jarvis has bought itself a financial life-line by selling its 33% stake in the Tubes Lines underground consortium to Amey, part of Spanish construction group Ferrovial, for Â£150m.
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AMP&#39;S former British arm HHG will return $2.2 billion to long-suffering shareholders after finally striking a deal to sell its life insurance assets for $2.62 billion.
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Business & money: Row blows up over payoffs for executives of tube maintenance firm that went into administration.
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Leeds today confirmed negotiations for the takeover of the American-backed consortium led by Sebastian Sainsbury have ended - and that Elland Road is to be sold under a sale and lease back deal.
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Supermarket chain Somerfield is to take control of more than half of Scotland&#39;s Safeway branches. They are being sold by the company&#39;s new owner Morrisons as part of a Â£260m deal.
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Jarvis, the stricken former private finance initiative (PFI) group, warned shareholders yesterday that it could cease trading in a matter of weeks if a refinancing deal is not agreed with its banks.
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Business & money: Â· EC concern at company's grip on supply linesÂ· Russian state monopoly may be forced to divest
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Radio group GCap Media said yesterday it had sold its Century radio stations in the North-East and Manchester in a deal worth pounds 60m.
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By Alistair Osborne, Associate City Editor (Filed: 27/12/2004). Jarvis&#39;s chief executive has admitted that the infrastructure services group will still require a debt-for-equity swap, despite securing its short
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Shares in Jarvis have plunged by more than 20 per cent after the support services contractor warned that it may yet fall victim to its Â£230 million debt burden.
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Multiplex Group, Westfield Group and the billionaire brothers Simon and David Reuben lodged a formal 585 million-pound ($1.05 billion) cash offer for Chelsfield Plc, meeting a deadline to win support from the company&#39;s owners.
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Â£1500 Sharp LCD screen offered for Â£150 The UK website of the high street retailer Woolworths, fell over today as British punters rushed in to place orders for ultra cheapo LCD TVs.â¦
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9.15am: The BBC has closed a Â£2bn deal with Siemens Business Services for the contracting out of its technology wing. The ten-year Technology Framework Contract, approved by the government, will see the corporation save an estimated Â£30m a year.
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Cable &amp; Wireless yesterday sold its Japanese business to Softbank Corp for Â£72.4m. The move is the last big part of the company&#39;s retrenchment and leaves it focused on Britain and a handful of former British colonies.
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Business & money: JJB Sports takes a 10.1% stake in Umbro, the troubled England football kit manufacturer.
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Part of the Odyssey entertainment complex in Belfast is close to being sold, the BBC learns.
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Jarvis, the support services group, announced a record loss yesterday as it wrote off Â£240m to cover past and future problems. It passed its half-year dividend and turnover fell almost 30 per