Sunday, 14 September 2014

Sunday review

Most of today's Sunday newspaper business sections are focused on financial implications and risks of Scotland breaking away from the Union.

But tucked away on page 2 of The Sunday Times is a story from John Collingridge on Porterbrook, the train leasing company that has been put up for sale by a consortium of investors led by Deutsche Bank.

Collingridge appears to have picked up on the story I did early last week about Borealis teaming up with Wren House, a divsion of the Kuwait Investment Authority, to form part of Macquarie's bidding consortium for Porterbrook.

Collingridge, though, notes that Macquarie, Borealis and Wren House have now dropped out of the race to buy Porterbrook and given the reporter has consistently broken a series of exclusive stories on the auction I am sure he is correct.

Still, its worthwhile noting the fact that Borealis and the Kuwait Investment Authority (via Wren House) are working together on deals.

Some readers might recall that last year while working at Dow Jones in London I broke the story about Borealis teaming up with the Kuwaitis to try and buy FTSE 100 water company Severn Trent. I wonder whether the infrastructure funds are still talking that deal, which ultimately they failed to pull off?

Elsewhere, it looks like Bloomberg have landed the scoop of the weekend - or year, maybe - with the tale about SAB Miller trying to buy Heineken. It will be interesting to see how that one plays out over the coming weeks...  

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