"During a conversation littered with expletives, M2 Capital chairman Robert Mantse told the BBC that his dealings with the administrators had been a "circus" and accused PwC of being "beyond unfair".
He said M2 is now considering legal action. Asked what his next steps would be, Mr Mantse replied he was "going to lunch with a very pretty girl"."
I am sure they were getting in the way of a deal, probably one that involved the £40m of freehold land the company owns being sold off to line the pockets of some already rich jokers while existing creditors and employees are stiffed.
private equity really got going in the 80s. co-incided with the UKs turn around after the years of managed decline. let loose some buccaneering spirit to make britain great again/
I seem to recall the 80s were when we sold off all national housing stock, oil and potentially profitable utilities to bribe the electorate with tax cuts, as well as deregulating the financial industry in order to set the scene for the GFC. Am I Bobby Ewing?
i.e. PE did nothing to "turbo-charge" the UK in the 80s, and what did was flogging off the state's assets at an undervalue (though the deregulation led to de-risked bankers throwing money at a bunch of cowboys doing nothing more than leveraging businesses and encouraging short term gain to line their own pockets with ridiculously generous tax laws).
turbo charging the economy wasn't the utilities being flogged off. private equity was creating value through building better businesses and holding management teams to account
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oops
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sounds the administrators were getting in the way of the deal
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No proof of funds
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Not all heroes wear gilets.
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M2 Capital
Not heard of them.
Do they invest across northern Kent
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bid deadline on a bank holiday is a bit ridic tbf
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Private gashquity.
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clearly works in PE:
"During a conversation littered with expletives, M2 Capital chairman Robert Mantse told the BBC that his dealings with the administrators had been a "circus" and accused PwC of being "beyond unfair".
He said M2 is now considering legal action. Asked what his next steps would be, Mr Mantse replied he was "going to lunch with a very pretty girl"."
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She should make sure he has the cash first.
I understand that's common practice...
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heh
lad
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I am sure they were getting in the way of a deal, probably one that involved the £40m of freehold land the company owns being sold off to line the pockets of some already rich jokers while existing creditors and employees are stiffed.
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Britains decline can basically be shown to correlate with the rise of PE
coincidence?
Ifinknot.
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"private equity to the rescue, saving jobs"
Don't you just love these guys and how much they care.
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private equity really got going in the 80s. co-incided with the UKs turn around after the years of managed decline. let loose some buccaneering spirit to make britain great again/
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PE should focus on rescuing the staff it already has!
https://www.theguardian.com/business/2023/aug/30/pret-a-manger-fined-80…
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So much spivvery
no wonder this country is in such a bloody state
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Pret is owned by a German conglomerate. yes, those ever so caring nice and responsible german corporates who have to worry about staff welfare.
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I seem to recall the 80s were when we sold off all national housing stock, oil and potentially profitable utilities to bribe the electorate with tax cuts, as well as deregulating the financial industry in order to set the scene for the GFC. Am I Bobby Ewing?
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weren't the utilities and BP floated? Nothing to do with PE
and the housing stock went to home owners.
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i.e. PE did nothing to "turbo-charge" the UK in the 80s, and what did was flogging off the state's assets at an undervalue (though the deregulation led to de-risked bankers throwing money at a bunch of cowboys doing nothing more than leveraging businesses and encouraging short term gain to line their own pockets with ridiculously generous tax laws).
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turbo charging the economy wasn't the utilities being flogged off. private equity was creating value through building better businesses and holding management teams to account
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I suspect clubbers would have fitted in very well in a 1980s Tomkins style conglomerate.
Guns to Buns.
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What Clubman mainly says. Lets not pretend that PE is nothing more than spreadsheet lead chancers, who asset strip distressed companies.
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remember when Tony Soprano took a controlling interest in Ramsay Sporting and Outdoors? That's the PE model.
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What a ghastly bunch of spivs.
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megabuyouts? buying a trend and levering up. making real changes? now that takes skill
:)
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