South Africa’s Foschini Group snaps up UK’s fashion brand Hobbs

Hobbs, the British high street fashion retailer known for being a favourite of the Duchess of Cambridge, has found a new owner in the form of South African retailer The Foschini Group (TFG). Hobbs chief executive Meg Lustman said this would help the brand to become “truly successful”. “With TFG’s existing experience managing desirable brands, […]

Blackstone in talks to sell stake in camera maker Leica

Buyout group Blackstone is in talks with potential buyers for its 45 percent stake in iconic high-end camera and sport optics maker Leica, people close to the matter said. The investor has teamed up with an investment bank to work out strategic options for the company and has already held talks with several potential acquirers, […]

More bags, shoes as Kors, Jimmy Choo get into $1.2bn tie-up deal

Jimmy Choo

U.S. retailer Michael Kors (KORS.N) is betting that its acquisition of storied shoemaker Jimmy Choo will give sales a much-needed boost, but lingering problems at Kors’ core bag business could delay potential benefits. Kors said earlier this week it would buy Jimmy Choo for $1.2 billion and plans to expand the line by opening more […]

Deeper probe ordered by UK regulator in Tesco, Booker proposed deal

The United Kingdom’s competition regulator has ordered a deeper probe on the proposed 3.7 billion pounds ($4.75 billion) takeover by supermarket Tesco’s of wholesaler Booker. It involves a detailed investigation and been at the behest of the companies who had requested that it “fast track” the process. Tesco, Britain’s biggest retailer, and Booker announced the […]

Barclays Kenya `open minded’ on takeovers as industry wilts

Barclays Bank of Kenya Ltd. is ready to make acquisitions in East Africa’s largest economy as the industry struggles to cope with interest-rate caps that have cut profit and curbed lending and regulators urge the industry to consolidate. “Are we open to acquiring? Absolutely,” Chief Executive Officer Jeremy Awori said in an interview on Wednesday […]

Foreign buyers drive Russian M&A volumes, Deutsche top adviser

Russian acquisitions by overseas buyers have hit their highest level since before sanctions were imposed in 2014, Thomson Reuters data shows, with a renewed willingness to do business with Moscow. Inbound merger and acquisition (M&A) volumes total $4.6 billion in 2017, almost triple the $1.6 billion seen for the same period in 2016 and the […]