UK Treasury examines private equity deals to review local benefits -The Times


July 13 (Reuters) – Officials at the UK Treasury are examining private equity deals to see if they have benefited local regions as concerns grow over the pace of takeovers of British companies, The Times newspaper reported.

The Treasury study is understood to include an assessment of private equity deals around the country, including how they have benefited companies and the areas where they are based, according to the report.

The Treasury did not immediately respond to a Reuters request for comment.

British supermarket chain Morrisons, earlier this month, agreed a takeover bid by SoftBank-owned Fortress Investment Group, valuing Britain’s fourth-largest supermarket chain at 6.3 billion pounds ($8.70 billion).

Over the weekend, the Mail on Sunday reported that U.S. private equity firm TA Associates has made a 2 billion pounds ($2.78 billion) takeover approach for the medical division of Smiths Group Plc, which makes ventilators for hospitals.

($1=0.7241 pounds)

Reporting by Kanishka Singh in Bengaluru; Editing by Leslie Adler


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