Horlick battles rebellion
NICOLA HORLICK is attempting to postpone Thursday's crunch shareholder vote on the future of her Bramdean Alternatives investment fund as she tries to head off a rebellion led by the property investor Vincent Tchenguiz.
Horlick held at least three meetings with Tchenguiz last week, appealing for him to withdraw demands that the funds be liquidated. She said shareholders should be given the chance to weigh up the liquidation proposal against a takeover offer she is attempting to table.
$1bn North Sea sell-off
ITALIAN oil giant Eni has hired Rothschild to sell most of its North Sea oil fields for more than $1 billion (£607m).
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The fields up for sale are producing about 20,000 barrels a day and contain 120m barrels of reserves.
The auction, one of the largest in recent years in the North Sea, will be hotly contested by Japanese buyers.
It does not include the company's stakes in the Liverpool Bay, J Block or Elgin fields.
Davies set for return
GEORGE DAVIES, the man behind Next, Per Una and George at Asda is making a comeback to the high street this autumn with a new label - a year after quitting Marks & Spencer.
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Davies plans to launch GIVe on October 1, a boutique brand aimed at women of 30 and over. He will start with a 150-piece range in up to six GIVe stores and 20 concessions in independent department stores. It would be "affordable luxury", he said.
Endemol in talk swith Setanta
ENDEMOL, the producer behind the Big Brother reality TV show, is one of a number of investors in talks to join a new £20m equity fundraising at Setanta, the sports channel. Doughty Hanson, an existing shareholder, and Denis Desmond, an Irish rock promoter, are expected to pitch in. Setanta hopes to raise funds to match an investment by Len Blavatnik. He agreed this weekend to pay £20m to become a 51% shareholder.
Air fillip for Rolls-Royce
ROLLS-ROYCE is expected to snare several hundred million dollars in orders from Gulf airline Etihad at the Paris Air Show this week. Etihad, which is based in Abu Dhabi, is expected to select engines for around 65 aircraft that it has already bought from Boeing and Airbus.
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The Paris show normally sees hundreds of billions of dollars worth of deals, but with the recession, the Etihad deal will be one of the largest to be announced.
'Woolies' revival boost
SIR GEOFF MULCAHY has been lined up as chairman of a new Woolworths-style variety store chain. The veteran retail executive is backing plans by Tony Page, the former managing director of Woolworths, to buy back scores of its vacant stores and bring back a one-stop shop selling everyday essentials.
Mulcahy's involvement represents a huge vote of confidence for Page's plans. Mulcahy once ran Kingisher, which owned Woolworths before it was demerged into a separate listed business in 2001. Last year he mounted a bid to take over 500 Woolworths stores after it collapsed into administration.
It is thought Mulcahy is a passionate supporter of a Woolies-style chain and believes it could be very profitable.
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Page is locked in talks with a consortium of private investors to raise more than £5m to finance the new venture.
Takeover hopes high at Man Group
6.4% THE rise in the share price on Friday of Man Group, the broking firm, fuelled by sentiment in the sector after the Barclays/Black Rock deal.
85% THE increase in Man Group's share price since its low in March, with investors remaining hopeful that it will soon attract a takeover bid.