City News: Hollywood Bowl, Menzies, Phoenix, and Whisky

0

Its undisclosed equity backer Electra rtners had been targeting a £280million valuation previous shelving float plans earlier this year amid uncertainty circumambient Brexit.

Electra will hold nearly 18 per cent of the ensemble when shares begin trading at 160p next week, ladies man £181.3million.

Hollywood, which operates 54 centres embracing the AMF and Bowlplex brands, posted half-year adjusted pre-tax earnings of £16.8million on £55million gate.

Chief executive Stephen Burns said: “We have exciting blueprints in STRIKING: Shares will trade next week place to flower further.”

——————————————————

John Menzies sealed a “transformational” deal for its aviation amenities arm after agreeing to buy BBA Aviation’s plane refuelling business for £153million.

Edinburgh-based Menzies, which also in a hurries a distribution business, is funding the acquisition of ASIG with new debt and a £75million disinterestedness rights issue.

Buying ASIG, with its HQ in Florida and about 8,000 workers across seven countries, will double the size of Menzies’ North American handlings.

Last year ASIG generated revenue of £272million. Menzies stakes took off 26p to 618p, while BBA Aviation rose 3½p to 239½p.

——————————————————

Phoenix rty, the UK’s biggest owner of insurance funds closed to new customers, is poised to buy Abbey Moving spirit Assurance in a potential £1billion deal.

The FTSE 250 com ny responded it is in “advanced discussions” with Deutsche Bank, which in 2007 bought Abbey for £977 milion, but there is “no definiteness discussions will lead to a transaction.”

Earlier this year Phoenix buy off French giant Axa’s pension and protection business. It declined to comment on guess it is looking to raise £800million to fund the Abbey acquisition. Phoenix dues rose 2½p to 844p.

——————————————————

Scotch whisky exports have grown for the before time in three years after soaring demand from India.

The peer of 533 million bottles were shipped overseas in the first six months, up 3.1 per cent floor the same period last year, although the value of sales floor 1 per cent to £1.7billion.

Single Malts have more than doubled in value one more time the st decade and increased by 6 per cent to £431million.

Sales masses to India were up 41 per cent to 41 million bottles. France and the US are the biggest customer bases by volume and value respectively.

Whisky Association chief executive David Frost express: “Scotch exports are well placed to grow.”

Leave a Reply

Your email address will not be published. Required fields are marked *