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Shareholders sell down holdings in AutoStore and Orsted, as shipping company opens books ahead of Athens parallel listing
Proceeds expected to go towards growth, including expanding what the company says is Africa’s biggest refinery
Anna Repetto joins from Barclays
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Despite the failed IPO of Banca Popolare di Vicenza, which was bought entirely by Italy’s new bank rescue fund, Veneto Banca is expected to press ahead with its €1bn flotation. Bankers are divided on its chances of success, writes Jon Hay. -
Banca Popolare di Vicenza is now Fondo Atlante’s problem. The hastily put together Italian bank rescue fund had to stump up all the €1.5bn of capital needed for BPV to avoid a bail-in this week, after there was too little demand to allow the IPO to go ahead.
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Barclays made a convincing start to its plan of reducing its stake in Barclays Africa on Wednesday night, with a successful block trade that netted $4bn of demand from what bankers on it said was a very high quality group of institutions.
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A consortium including Bob Diamond’s Atlas Merchant Capital is still pursuing a potential bid for Barclays Africa, even after Barclays sold a 12% stake in it in a block trade on Wednesday night, and a senior regulator said a private equity bid would not be welcome.
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Centrica, the UK energy supply, trading and production company, raised £700m of new capital on Thursday to support its credit ratings with an intraday placement, but that was less than the £750m it set out to raise, and its share price fell 9.8%.
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Deutsche Bank’s new head of corporate and investment banking for Europe, the Middle East and Africa started work at the firm this week, while its most senior banker in the US left to join boutique PJT Partners.
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