QInvest mulling sale of Panmure stake – paper
Lazard's appointment follows last month's announcement by larger rival Evolution Group that it was considering a bid for Panmure.
October 15, 2010 9:01 by Reuters
Qatar’s QInvest is considering selling its stake in British stockbroker Panmure Gordon , the Daily Telegraph reported on Friday.
QInvest, Panmure’s biggest shareholder, has asked investment bank Lazard to advise it on its options, including a possible sale of its 44 percent stake, the newspaper said in an unsourced report.
Lazard was not immediately reachable for comment.
It said Lazard’s appointment follows last month’s announcement by larger rival Evolution Group that it was considering a bid for Panmure.
Last month, Panmure shrugged off the threat of a bid from Evolution, saying it had opportunities to grow despite making an interim loss.
Britain’s Takeover Panel has set Evolution a deadline of Oct. 28 to decide on whether or not to make an actual bid for Panmure.
(Reporting by Karolina Tagaris; Editing by Anshuman Daga)
More on GCC
-
Bahrain’s Batelco CEO leaves with immediate effect
-
Arabtec Says Workers End Strike
-
First report by Etisalat covering global footprint
-
Kuwaiti Oil Service Workers On Strike Over Pay – Union
-
Qatar’s Doha Bank May Sell Bonds To Raise Capital – CEO
-
Qatar to announce new energy infrastructure fund
-
Qatar Holding, Italy Fund Eying Versace – Paper
-
Saudi government websites targeted
-
NCoV – First report of patient-to-nurse spread
-
Saudi regulations target stock market speculators
-
Dubai’s Arqaam Capital Eyes South Africa, Saudi Expansion
-
U.S. Targets Two UAE Firms For Dealing With Blacklisted Iran Banks
-
Airbus officially picked by Kuwait Airways
-
GMR reveals top 50 Mena Corporate Brands
-
Kuwait Airways to sign $3 billion-plus Airbus deal
-
Abu Dhabi Tourism Company Loss Widens
-
Emirates Airline reaps expansion profits
-
Saudi Arabia has 13 cases of SARS-like Coronavirus – WHO
-
UAE Central Bank Shuts Two Money Exchange Firms For Violations
-
Emal plans further expansion
