Venture Capital Group Eyes Cammell Laird
Venture capital group Patron Capital has approached the receivers of Cammell Laird about buying parts of the failed British shipbuilder, Reuters reported. Former Lehman Brothers banker Keith Breslauer who runs Patron was quoted as saying he had "expressed an interest in the U.K. business" to receivers PriceWaterhouseCoopers, but "we're not so keen on the international businesses." Last week the Independent newspaper said a private equity group owned by the Royal Bank of Scotland was considering a bid for Cammell Laird just days after the bank withdrew support from the shipbuilder and sent it into receivership. - (Reuters)
Patron Capital Expresses Interest in Cammell Laird
Venture capital group Patron Capital reportedly has approached the receivers of Cammell Laird about buying parts of the failed British shipbuilder. Former Lehman Brothers banker Keith Breslauer who runs Patron was quoted as saying he had "expressed an interest in the U.K. business" to receivers PriceWaterhouseCoopers, but "we're not so keen on the international businesses."
Cammell Laird Receives An Offer For Teesside
Cammell Laird, which is in receivership, has had an offer to buy its Teesside yard in northeast England, giving a glimmer of hope for workers fearing further job cuts. "An offer to take over the Teesside yard only has been received. Negotiations continue," a spokeswoman for accountancy firm PricewaterhouseCoopers, acting as receivers, said. Cammell Laird, whose main yard was established in 1824, announced over 500 job cuts in recent months after it entered receivership when a series of cancelled orders hit its finances, causing it to suspend trading in its bonds and shares. The decline in its fortunes echoed those of the British shipbuilding industry as a whole. Cammell Laird said last month that it would mothball the Teesside plant.
