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Greybull Capital
Greybull Capital LLP is a private investment company that specialises in medium- to long-term investments in UK-based companies. It was incorporated as a limited liability partnership in April 2010. In the aftermath of the financial crisis of 2007–2008, Greybull's strategy was to buy distressed firms and return them to success. By 2019, Greybull had bought several struggling firms for low prices, but many of them had subsequently failed. Examples include the airline Monarch, sports bar and snooker hall chain Riley's, the M Local convenience store chain, and electrical goods retailer Comet. Greybull bought British Steel, Britain's second-largest steelworks, for £1 in 2016, invested £20-million in the company, and charged it £6-million in fees and accrued £14-million of owed interest in the years after. British Steel became insolvent in May 2019, after failing to secure government funding. Greybull was criticised in 2019 by Lord Myners for its track record of making money fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marc Meyohas
Marc Joseph Meyohas (born June 1971) is a French, London-based businessman who is the managing partner in Greybull Capital, which he founded with his brother Nathaniel Meyohas. Biography Meyohas was born in Paris, France to a Sephardi Jewish family. His sister is New York artist Sarah Meyohas. He attended Clifton College in Bristol, United Kingdom and graduated from the University of Manchester with a BA in Economics (1990–1993). From January 1996 to December 2007 he was the chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ... of Cityspace. He later obtained British citizenship. References 1971 births Living people Alumni of the University of Manchester French chief executives French people of Jewish descent People educated at Clifton College [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vince Cable
Sir John Vincent Cable (born 9 May 1943) is a British politician who was Leader of the Liberal Democrats from 2017 to 2019. He was Member of Parliament (MP) for Twickenham from 1997 to 2015 and from 2017 to 2019. He also served in the Cabinet as Secretary of State for Business, Innovation and Skills from 2010 to 2015. Cable studied Economics at Cambridge and Glasgow, before working as an economic adviser to the Government of Kenya in the 1960s, and for the Commonwealth Secretariat in the 1970s and 1980s. During this period, he also lectured in economics at Glasgow. He later served as Chief Economist for Shell in the 1990s. Initially active in the Labour Party, Cable became a Labour councillor in Glasgow in the 1970s, during which time he also served as a special adviser to then- Trade Secretary John Smith. In 1982, however, he defected to the newly formed Social Democratic Party, which later amalgamated with the Liberal Party to form the Liberal Democrats. After standing uns ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special-purpose Entity
A special-purpose entity (SPE; or, in Europe and India, special-purpose vehicle/SPV; or, in some cases in each EU jurisdiction, FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. A formal definition is "The Special Purpose Entity is a fenced organization having limited predefined purposes and a legal personality". Normally a company will transfer assets to the SPE for management or use the SPE to finance a large project thereby achieving a narrow set of goals without putting the entire firm at risk. SPEs are also commonly used in complex financings to separate different layers of equity infusion. Commonly created and registered in tax havens, SPEs allow tax avoidance strategies unavailable in the home district. Round-tripping is one such strategy. In addition, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency Service
The Insolvency Service is an executive agency of the Department for Business, Energy and Industrial Strategy with headquarters in London. It has around 1,700 staff, operating from 22 locations across Great Britain. The Insolvency Service administers compulsory company liquidations and personal bankruptcies and deals with misconduct through investigation of companies and enforcement. It also makes redundancy payments in cases where a company is insolvent. Responsibilities It is responsible for authorising and regulating the insolvency profession. They: * administer and look into the affairs of bankrupts, people subject to debt relief orders, and liquidated companies, making reports of any directors’ misconduct * carry out investigations into live companies * act as trustee/liquidator where no private sector insolvency practitioner is in place * act as nominee and supervisor in fast-track individual voluntary arrangements * deal with the disqualification of unfit directors in a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carillion
Carillion plc was a British multinational construction and facilities management services company headquartered in Wolverhampton in the United Kingdom, prior to its liquidation in January 2018. Carillion was created in July 1999, following a demerger from Tarmac. It grew through a series of acquisitions to become the second largest construction company in the United Kingdom, was listed on the London Stock Exchange, and in 2016 had some 43,000 employees (18,257 of them in the United Kingdom). Concerns about Carillion's debt situation were raised in 2015, and after the company experienced financial difficulties in 2017, it went into compulsory liquidation on 15 January 2018, the most drastic procedure in UK insolvency law, with liabilities of almost £7 billion. In the United Kingdom, the insolvency caused project shutdowns and delays in the UK and overseas (PFI projects in Ireland were suspended, while four of Carillion's Canadian businesses sought legal bankruptcy protection) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Steel Corporation
British may refer to: Peoples, culture, and language * British people, nationals or natives of the United Kingdom, British Overseas Territories, and Crown Dependencies. ** Britishness, the British identity and common culture * British English, the English language as spoken and written in the United Kingdom or, more broadly, throughout the British Isles * Celtic Britons, an ancient ethno-linguistic group * Brittonic languages, a branch of the Insular Celtic language family (formerly called British) ** Common Brittonic, an ancient language Other uses *''Brit(ish)'', a 2018 memoir by Afua Hirsch *People or things associated with: ** Great Britain, an island ** United Kingdom, a sovereign state ** Kingdom of Great Britain (1707–1800) ** United Kingdom of Great Britain and Ireland (1801–1922) See also * Terminology of the British Isles * Alternative names for the British * English (other) * Britannic (other) * British Isles * Brit (other) * Briton (d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Steel Limited
British Steel Limited is a long steel products business founded in 2016 with assets acquired from Tata Steel Europe by Greybull Capital, then acquired by Jingye Group in 2020. The primary steel production site is Scunthorpe Steelworks, with rolling facilities at Skinningrove Steelworks, Teesside. History During the 2010s, a combination of reduced demand for steel in Europe (see Financial crisis of 2007–08 and Great Recession) and high company indebtedness saw the Tata Group begin a sales process for the long products division of Tata Steel Europe to the Klesch Group. In 2014 the long products division employed approximately 6,500 workers and was operating with 2.8 million tonne p.a. capacity. The division included primary production at Scunthorpe steelworks, mills in Teesside (Teesside beam mill, Skinningrove and Darlington special profiles), France (Hayange rail mill) and Scotland (Dalzell and Clydebridge Steelworks, Clydebridge), along with other assets, now sold Immingh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Letter Of Intent
A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a contract, legally binding agreement. The concept is similar to a Heads of agreement (law), heads of agreement, term sheet or memorandum of understanding. Merger and acquisition agreements, joint venture agreements, real property lease agreements and several other categories of agreements often make use of a letter of intent. The capitalized form ''Letter of Intent'' may be used in legal writing, but only when referring to a specific document under discussion. LOIs resemble short, written contracts, often in tabular form. They are not binding on the parties in their entirety. Many LOIs, however, contain provisions that are binding, such as those governing non-disclosure agreement, non-disclosure, governing law, Exclusive exclusivity or a Covenant (law), covenant to negotiate in good faith. A LOI may sometimes be interprete ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scunthorpe Steelworks
The Iron and Steel Industry in Scunthorpe was established in the mid 19th century, following the discovery and exploitation of middle Lias ironstone east of Scunthorpe, Lincolnshire, England. Initially iron ore was exported to iron producers in South Yorkshire. Later, after the construction of the Trent, Ancholme and Grimsby Railway (1860s) gave rail access to the area local iron production rapidly expanded using local ironstone and imported coal or coke. The local ore was relatively poor in iron (around 25% average) and high in lime ( CaCO3) requiring co-smelting with more acidic silicious iron ores. The growth of industry in the area led to the development of the town of Scunthorpe in a formerly sparsely populated entirely agricultural area. From the early 1910s to the 1930s the industry consolidated, with three main ownership concerns formed – the ''Appleby-Frodingham Steel Company'', part of the United Steel Companies; the ''Redbourn Iron Works'', part of Richard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tata Group
The Tata Group () is an Indian multinational conglomerate headquartered in Mumbai. Established in 1868, it is India's largest conglomerate, with products and services in over 150 countries, and operations in 100 countries across six continents. Acknowledged as the founder of the Tata Group, Jamsetji Tata is sometimes referred to as the "father of Indian industry". Each Tata company operates independently under the guidance and supervision of its own board of directors and shareholders. Philanthropic trusts control over 66% of the Tata holding company Tata Sons, while the Tata family is a very small shareholder. The group's annual revenue for fiscal year 2021–22 was reported to be US$128 billion. There are 29 publicly-listed Tata Group companies with a combined market capitalisation of $311 billion as of March 2022. Significant Tata Group affiliates include Tata Consultancy Services, Tata Consumer Products, Tata Motors, Tata Power, Tata Steel, Voltas, Titan Company, Tanishq ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tata Steel Europe
Tata Steel Europe Ltd. (formerly Corus Group plc) was a steelmaking company headquartered in London, England, with its main operations in the United Kingdom and the Netherlands. The company was created in 2007, when Tata Group took over the British-Dutch ''Corus Group''. In 2021, the company was split into a British and a Dutch branch. Tata Steel Netherlands (TSN) and Tata Steel UK fall directly under the Indian parent company Tata Steel and Tata Steel Europe ceased to exist. Corus Group was formed through the merger of the Koninklijke Hoogovens and British Steel plc in 1999 and was a constituent of the FTSE 100 Index. It was acquired by Tata of India in 2007, and renamed Tata Steel Europe in September 2010. At formation Corus operated steelmaking plants (blast furnaces) in Port Talbot, Wales; Scunthorpe and Teesside, England; and IJmuiden, the Netherlands, with additional steelmaking facilities in Rotherham, England (electric arc furnace), as well as downstream steel pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Morrisons
Wm Morrison Supermarkets, trading as Morrisons, is the fifth largest supermarket chain in the United Kingdom. As of 2021, the company had 497 supermarkets across England, Wales and Scotland, as well as one in Gibraltar. The company is headquartered in Bradford, England. Founded in 1899 by William Morrison, hence the abbreviation Wm Morrison, it began as an egg and butter stall in Rawson Market, Bradford, England. Until 2004, Morrisons store locations were focused primarily in the North of England but, with the takeover of Safeway in that year, the company's presence increased significantly in the South of England, Wales and Scotland. As of February 2021, Morrisons employed 110,000 employees and served around 11 million customers each week. The company was listed on the London Stock Exchange until it was acquired by Clayton, Dubilier & Rice in October 2021. Morrisons' UK market share in September 2022 was 9.1% – behind Tesco (26.9%), Sainsbury's (14.6%), Asda (14.1%) an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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