Tube Lines sale to pull Jarvis from the brink
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Jarvis is on the verge of avoiding financial collapse after it agreed to sell its one-third stake in Tube Lines to Amey for Â£146.8m and negotiated a one-year proposed extension to its banking facilities.
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The public body which operates the London Underground said Friday it was ready to make an offer for one of the private companies which runs its infrastructure.
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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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The chairman of Telstra has nominated the upcoming full sale of the company as the major reason for the departure of chief executive Ziggy Switkowski.
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Leeds United, one of the great names in English soccer, said on Friday they were close to selling their Elland Road stadium after ending takeover talks with a British-American consortium.
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Jarvis Plc, the UK engineering firm whose debt is almost 10 times its market value, agreed to sell its stake in London&#39;s subway to the Spanish builder Grupo Ferrovial SA for Â£146.8 million (US$283 million) to avoid collapse.
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First video killed the radio star. Now it looks like the video recorder's days could be numbered too, after Britain's biggest electrical retailer announced an end to sales of the household gadget.
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Business & money: Â· Buyout firms blamed for collapse of schemesÂ· Labour donor linked to Â£81m of deficits
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Rank is planning to sever its last link with its celluloid heritage with the sale or demerger of its Deluxe film-making arm. The group yesterday said it would investigate &quot;separating&quot; Deluxe
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The chief executive of Jarvis, the embattled engineering and construction firm, resigns.
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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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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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Xstrata yesterday threatened to withdraw its hostile Â£2.9 billion takeover offer for WMC if the Australian miner indicated it would dilute value by paying out up to A$1 billion in cash to shareholders.
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One of Britain's biggest property funds shuts its doors to withdrawals after panic selling
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Business & money: Â· Drinks group signs Â£460m deal with Ketel OneÂ· Dutch vodka expected to cut into top seller's market
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CRISIS-rocked rail and road contracting firm Jarvis sent its shares crashing again yesterday when it gave warning it faced collapse within weeks if it could not reschedule debt-repayments with its banks.
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TELECOMS giant BT yesterday said it was parting company with one of the architects of its transformation from a fixed-line operator.