Tuesday, 6 October 2015

When "old" news becomes new news... - part 2

Readers probably don't recall that almost exactly a year ago I wrote this article:


One of the key points of last year's piece was to highlight that APR Energy, the power generator company, had hired Barclays to carry out a "strategic review" following interest from several private firms despite "people familiar with the matter" claiming Barclays wasn't "currently" working with the company etc etc etc.

Well, quelle surprise: it turns out APR Energy is in talks to be sold to a private equity firm chaired by Madeleine Allbright, the former US secretary of state, and Barclays is the main adviser to the UK-listed business on the deal. Here is a link to yesterday's press release:


So, obviously this was case of "old" news becomes new news - although admittedly it took some time.

Still, it tests my resolve to believe "people familiar with the matter" over other sources. And I have been working on another story involving Barclays but have decided not run it, for the moment, as "people familiar with the matter" say the tale isn't true.

Perhaps, though, I shouldn't be so willing to believe those "people familiar with the matter"...


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