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Symphony International has sold its entire investment in AFC, which operates the Asian Food Channel, a 24-hour TV channel broadcasting food and lifestyle programming tailored to audiences in the Asia Pacific region.
The sale was part of the acquisition by Scripps Networks Interactive of 100 per cent of AFC. Scripps acquired AFC to strengthen its competitive position in Asia.
Scripps is a developer of lifestyle-oriented content for television and the Internet with a media brand portfolio that includes HGTV, Food Network, Travel Channel, DIY Network and Cooking Channel, amongst others.
The gross proceeds from the sale of Symphony’s
Clive Snowdon has been appointed group managing director of the Moore Group.
This new role is the first senior position to be announced since the fund business was acquired by First Names Group in January.
Snowdon’s (pictured) experience and knowledge ideally place him for the new role at Moore. He has over 15 years’ senior international business and operational experience in alternative assets covering hedge funds, funds of hedge funds and private equity funds. Snowdon will replace Ian Moore as managing director, whilst Moore takes up his new position as executive chairman of the Moore Group.
During
The Myanmar government has issued an announcement launching the long-awaited auction of 30 offshore blocks of oil and gas exploration (11 shallow water and 19 deep water) on production sharing basis.
The bids for both offshore and onshore blocks came online after both were postponed in August 2012 when the Ministry of Energy announced that it would take time to prepare the regulations regarding transparency in the bidding process. This claim was followed through with the second bidding round for onshore blocks on 17 January 2013, the first since in 2011.
The selection procedure for pre-qualified bidders for
Finagestion, a portfolio company of pan-African private equity firm Emerging Capital Partners (ECP), has been selected by REGIDESO (Régie de distribution d’eau), the Democratic Republic of Congo’s (DRC) public sector water distribution company, for a three-year technical services contract.
The contract is partly funded by the World Bank as part of its Water Supply Project.
The management and technical services contract awarded to REGIDESO was awarded following a competitive process organised by the World Bank and begins on 28 February 2013. Finagestion’s Senegalese water company, Sénégalaise Des Eaux (SDE), was instrumental to its bidding success.
Under the
Waste2Tricity (W2T) has launched a wholly owned subsidiary, Waste2Tricity International (Thailand), based in the Rajchathewi district of Bangkok.
W2T hopes to take advantage of the subsidies that exist in the Thai region and the natural opportunities that exist in its expanding economy that has inherent issues with waste management and a shortage of power.
Waste2Tricity International (Thailand) will be seeking a number of opportunities to deploy the Alter NRG Westinghouse plasma technology in multiple locations and is in advanced discussions with several potential partners. There has also been substantial interest in the future deployment of the AFC Energy
Northern Trust is expanding its fund administration and custody capabilities to support locally domiciled Hong Kong funds, including exchange-traded funds, as well as other regional investment funds.
For the newly launched service, Northern Trust will provide global sub-custody and fund administration services, including fund accounting and shareholder services, to asset managers looking to broaden their product and distribution base in the Asian region.
“We recognise the significant demand from investors, asset managers and regulators for local products in the Hong Kong and greater China markets,” says Camie West, head of global fund services in Asia for Northern Trust.
UK mergers and acquisitions activity totalled GBP23.5bn with 213 deals in Q1 2013, up 46.9 per cent compared to Q1 2012 (GBP16bn), but down 22.5 per cent in deal count (275 deals), according to MergerMarkets’ UK M&A Round-up for Q1 2013.
The country witnessed a second consecutive quarterly increase, up 27 per cent from Q4 2012 (GBP18.5bn), and accounted for 31.7 per cent of total European M&A (GBP74.1bn) activity, up from 15.6 per cent in the same period last year.
Results are largely down to the country’s top deal where Liberty Global acquired Virgin Media for GBP20bn, contributing 59.2
Placement agency BerchWood Partners has promoted Paola Tarazi to partner in its London office.
Tarazi (pictured) will continue to lead the expansion of the firm across Europe, the Middle East and Africa, with a particular focus on originating new client relationships, managing fundraising mandates, and distributing funds.
David Berchenbriter, founder of BerchWood, says: “We are delighted to welcome Paola as a partner of the firm. She has brought a depth of experience in placements and has a significant background in private equity fund of funds, asset management, and strategy consulting. During her time at BerchWood, she has proven
Investment firm KKR has entered into an agreement to acquire a controlling stake in Alliance Tire Group (ATG) from an affiliate of Warburg Pincus.
Yogesh Mahansaria, founder of ATG, will continue to maintain an ownership stake in the company and partner with KKR to continue to grow the business.
Terms of the transaction have not been disclosed.
The transaction is subject to customary closing conditions, including receipt of regulatory and third-party consents.
Employing more than 2,500 people worldwide, ATG is a developer, manufacturer and supplier of a wide range of off-highway tyres, catering primarily to the
The NHS reforms implemented on 1 April mark a major move towards centralisation of procurement of secure and other specialised mental health hospital services in England, which is now one of the tasks of the new NHS Commissioning Board under what promises to be a highly centralised commissioning regime.
Under the reforms, the new centrally-based NHS Commissioning Board takes over all secure commissioning: a task formerly undertaken on a regional basis. The Board will also hold commissioning responsibility for an expanded range of so-called prescribed services many of which had been (up until last month) commissioned on a
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