ROLEX WATCHES: Currently account for 15 per cent of items left with leading London pawnbroker
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IN HOCK UPMARKET pawnbroker Suttons and Robertsons in South Kensington has seen a 30 per cent increase in new customers this year and has loaned 25 per cent more cash. Rolex watches accounted for 15 per cent of all pawned items.
Sweet prospect US private equity firm Advent International is reportedly preparing a bid for former UK sugar refiner Tate & Lyle, which now makes ingredients including artificial sweeteners. Shares rose by 13 per cent on October 16 at the prospect of a deal that would exceed Tate & Lyle’s current £2.8 billion (€3.35 billion) market value.
Not selling BRITISH private equity company Alchemy is not selling its 41 per cent stake in global olive oil producer Deoleo, which owns Spain’s Carbonell. Although the deal struck when the group completed its recapitalisation in 2020 allows Alchemy to sell its stake in December 2024, there were no plans to sell over the next two years, the firm said.
Shell case RUSSIA is seeking more than €1 billion in compensation from Shell after the London-based company left the country following the Ukraine invasion, leading to a £3.8 billion write-down on its assets. The hearing is set for December 11 in Moscow, although prosecutors have failed to explain the motives for the claim.
Saba deal HOLDING company CriteriaCaixa, owned by the La Caixa Banking Foundation, has sold its car parking operator to Belgium’s Interparking two years after an initial approach was made. The €800 million transaction will combine cash and shares, giving CriteriaCaixa an 18 per cent minority stake in Interparking.
Tough choice DUBAI-BASED DP World, which owns P&O Ferries, explained that the company had “turned a corner” since it fired 800 staff without notice in March 2022. Thanks to this, DP World said it was now able to go ahead with its planned £1 billion (€1.19 billion) investment in the London Gateway container port.
Hold tight SHARES in multinational Puig are now listed at €18.95 on the Spanish stock exchange, compared with last May when the cosmetics giant made its debut at €24.5. Despite these losses, Bloomberg reported that 73 per cent of investment experts did not advise selling, but recommended holding onto the shares.
Office hours AS sales slump, Stellantis which owns Fiat, Citroen and Peugeot as well as Vauxhall, has told UK staff they will need to work in the office for an average of at least three days a week, or week-long if they are engaged on an urgent project. The directive originally applied only to engineers but now includes most areas.
Joint venture SPANISH multinational Ferrovial and Interogo Holding, which manages the investments of Ikea’s founder, have created a joint venture named Umbrella Roads. This will handle the former’s stakes, which are worth €100 million, in motorways and parking concessions in Spain, Ireland, Canada and Scotland.
Stat of the week: €7.5 billion investment by Blackstone in the first phase of a 224-hectare site for a data centre in Calatorao (Zaragoza) that will also provide 1,400 jobs.
