Connect with us

Private Equity

Asda’s new owner EG Group seeks new leadership ahead of IPO – report

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month

Avatar

Published

on

UK grocer Asda Group’s new owner EG Group is looking for a new chairman and independent directors as it prepares for a £10bn initial public offering, The Timesreports.

EG Group is owned by the billionaire Issa brothers and the private equity firm TDR Capital, who teamed up for a £6.8 billion takeover of Asda last month.

The move comes after Deloitte resigned last week as the company’s auditor because of concerns over the group’s governance and lack of internal controls, according to the publication.

A decision on candidates will be taken before the end of this year, although roles haven’t been finalised yet as the company is in the process of deciding whether to float in the UK or the US, The Times reports.

Write to Barcelona editors at barcelonaeditors@dowjones.com

From Dow Jones Newswires

Source: https://www.penews.com/articles/asdas-new-owner-eg-group-seeks-new-leadership-ahead-of-ipo-reports-20201023

Private Equity

No title

Avatar

Published

on

Source:

Continue Reading

Private Equity

Bin ‘Dear Sirs’ in legal letters, litigation partner says

‘Dear colleagues’ or ‘Dear [Name of firm]’ are better ways of greeting other lawyers, says Hausfeld’s Craig

Avatar

Published

on

A senior litigation partner has called for an end to the “outmoded” use of “Dear Sirs” as a form of address in legal letters.

Lianne Craig, head of commercial disputes at litigation firm Hausfeld, said the term “feels increasingly outmoded and incorrect,” in a post on Linkedin.

Craig said it was a “source of constant consternation that emails and letters from the other side on one of my matters are repeatedly addressed as ‘Dear Sirs’ when it is obvious that we are fielding an all-female team and that it might be polite to address us in some other (more appropriate) way”.

She said Hausfeld had decided to address opposing parties as “‘Dear [Name of firm]’” but said she had also seen “‘Dear Colleagues’ which is also Ok”.

“I’m not sure why firms that tout themselves as being progressive still use the old form: it feels increasingly outmoded and incorrect,” Craig wrote.

Hausfeld is not the first law firm to ban the phrase Dear Sirs. Magic Circle firm Freshfields Bruckhaus Deringer scrapped the use of the term in 2016 – replacing it with “Dear Sir or Madam” in the UK and “Dear Ladies and Gentlemen” in the US.

Earlier this year US litigation firm Quinn Emanuel told staff they should use “Dear Colleagues” or “Dear Counsel” in correspondence with opposing parties.

Craig told Financial News, Private Equity News‘ sister publication, that Hausfeld updated its style of greeting in early 2020.

“The workforce is much more diverse than it was when ‘Dear Sirs’ developed as a customary form of address and society has moved on,” Craig wrote in an email. “We must also take into account a wider range of gender identities than male/female.

“It’s good to talk about the issue because it’s easy to allow inertia to prevent progress,” she added. “In my experience, most people do not object to updating the customary form once it’s pointed out to them that it’s no longer relevant.”

To contact the author of this story with feedback or news, email James Booth

Source: https://www.penews.com/articles/litigation-partner-calls-for-end-use-of-dear-sirs-in-legal-letters-20201127

Continue Reading

Private Equity

EU negotiator en route to London for Friday evening Brexit talks

The UK’s transition period is set to end on 31 December, leaving just five weeks for a deal to be agreed

Avatar

Published

on

The EU’s team of negotiators tasked with finding a post-Brexit trade deal are on their way to London, ahead of another week of crunch talks with the UK.

Having been in self-isolation for two weeks in Brussels after one member of the team tested positive for coronavirus, chief negotiator Michel Barnier said in a tweet that the group will be travelling to London later on 27 November for more talks.

He added that he will be briefing members of the European Parliament and representatives from member states before the expedition, giving an update that the “same significant divergences persist” between the two sides.

Sticking points in the deal talks thus far have included fishing rights, a level-playing field, governance of the agreement and the question of border arrangements between Northern Ireland and the Republic of Ireland.

“In line with Belgian rules, my team and I are no longer in quarantine. Physical negotiations can continue,” he said.

President-elect Joe Biden waded into the debate on the Irish protocol earlier this week, telling reporters that the US does not want to see a “guarded border” between the two countries.

He said he had been speaking to Prime Minister Boris Johnson, Irish Taoiseach Leo Varadkar, and officials in France and elsewhere to lend support to a deal on the matter.

Johnson was also expected to have a call with European Commission president Ursula von der Leyen this week to give an update on the teams’ progress.

Investment bank JPMorgan raised its assessment of the talks to 80% in favour of a deal being agreed ahead of the talks on 24 November, on reports of stronger signs of the two sides reaching a consensus.

The UK’s transition period is set to end on 31 December, leaving just five weeks for a deal to be agreed.

JPMorgan analyst Malcolm Barr said that the EU and UK may now be working on flexible arrangements so that a provisional version of a deal could be in place by 1 January, with EU parliament members to vote on that agreement on 28 December.

To contact the author of this story with feedback or news, email Emily Nicolle

Source: https://www.penews.com/articles/eu-negotiator-en-route-to-london-for-friday-evening-brexit-talks-20201127

Continue Reading
Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Blockchain3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Saas3 hours ago

Blockchain3 hours ago

Here’s the Bitcoin Price that “All the Key Levels” are Currently Pointing To

Blockchain3 hours ago

RBA eyes wave of digital sovereign currencies

Press Releases4 hours ago

Mit der Gründung der Digital Cooperation Organization vereinigen sich fünf Nationen, um eine digitale Zukunft für alle zu verwirklichen

Press Releases4 hours ago

Cinq nations s’unissent pour lancer la Digital Cooperation Organization afin de bâtir un avenir numérique pour tous

Press Releases4 hours ago

Cinco naciones se unen para lanzar la Organización de Cooperación Digital para lograr un Futuro digital para todos

Press Releases4 hours ago

Cinco nações se unem para lançar a Organização de Cooperação Digital para Realizar um Futuro Digital para Todos

Blockchain4 hours ago

Is Bitcoin’s correction phase over?

Blockchain5 hours ago

BTC Breaks Past $18,000 Again Despite Bearish Whales

Blockchain5 hours ago

Cardano long-term Price Analysis: 29 November

Press Releases6 hours ago

Inmobiliaria de lujo-Ignace Meuwissen concluye con éxito la venta de su empresa de conocimiento inmobiliario

Blockchain6 hours ago

Ethereum’s Rebound is “Getting Tired” as Analyst Eyes Move to $520

Press Releases6 hours ago

TikTok Counter is Announced by TikTokRealTime.com, the Best Platform for Tracking the Count of TikTok Followers

Blockchain6 hours ago

Blockchain6 hours ago

Blockchain6 hours ago

Blockchain6 hours ago

Blockchain6 hours ago

Blockchain6 hours ago

Blockchain6 hours ago

Blockchain6 hours ago

Trending