Jump to content
DOSBODS
  • Welcome to DOSBODS

     

    DOSBODS is free of any advertising.

    Ads are annoying, and - increasingly - advertising companies limit free speech online. DOSBODS Forums are completely free to use. Please create a free account to be able to access all the features of the DOSBODS community. It only takes 20 seconds!

     

Euro Garage Issa brothers


Recommended Posts

1 hour ago, No One said:

You wont believe who's trying to scoop up Cafe Nero

 

The billionaire brothers behind the British petrol retailing powerhouse EG Group have launched a daring takeover bid for Caffe Nero hours before the ailing coffee shop chain seeks approval from landlords to slash its rent bill.

Sky News has learnt that Mohsin and Zuber Issa, who have turned Lancashire-based EG into one of the UK's biggest private companies, wrote to Caffe Nero over the weekend to propose buying the chain from its founder and controlling shareholder, Gerry Ford.

 

Under the EG proposal, Caffe Nero's landlords would be paid in full for the rent arrears owed to them as a result of the COVID-19 crisis.

Given the number of expensive Starbucks franchises they have I can see the attraction of owning a competitor with a good brand name.

 

Edited by eek
Link to post
Share on other sites
  • 2 weeks later...
  • Replies 54
  • Created
  • Last Reply

Top Posters In This Topic

  • spygirl

    26

  • Option5

    4

  • eek

    4

  • spunko

    4

Top Posters In This Topic

Popular Posts

Potential ASDA bid https://www.lancashiretelegraph.co.uk/news/18277665.blackburn-euro-garages-brothers-consider-bid-asda/ KFC https://www.asianimage.co.uk/news/18298006.blackburns-euro-

EG Group, and the private equity firm TDR Capital that owns half of the company, declined to comment. Well blow me down... Private equity, record debt pile... let's see how this one pans out.

There is simply no need for Asda to exist any more now that Aldi and Lidl charge the same (or less) for food that is actually edible.

Posted Images

spunko

They must be a front for something or someone. I wonder who is really putting up the cash - I suspect we all are.

https://www.thisismoney.co.uk/money/markets/article-9030661/Asda-takeover-deal-subject-CMA-investigation.html

Let's see where the balance sheet is in 3 years, I suspect loaded with debt and desperately trying to offload it, with the private equity tossers who 'own' it laughing all the way to the bank.

Link to post
Share on other sites
spygirl
3 minutes ago, spunko said:

They must be a front for something or someone. I wonder who is really putting up the cash - I suspect we all are.

https://www.thisismoney.co.uk/money/markets/article-9030661/Asda-takeover-deal-subject-CMA-investigation.html

Let's see where the balance sheet is in 3 years, I suspect loaded with debt and desperately trying to offload it, with the private equity tossers who 'own' it laughing all the way to the bank.

https://www.ft.com/content/356acc82-fb11-11e9-98fd-4d6c20050229



EG Group’s debt pile has more than quadrupled since the end of 2017, topping €8bn after a new bond sale earlier this month that funded the group’s $2.2bn purchase of 568 petrol stations in the US. And just as local Blackburn residents complained about the new houses being built in their neighbourhood, some managers of high-yield bond and loan funds have raised concerns about the rapid pace of EG Group’s growth. “They’ve taken full advantage of very lax loan and bond markets,” said Azhar Hussain, head of global high yield at Royal London Asset Management. “They’re getting close to exhausting the patience of the market, and the yields indicate that.” EG branched out into the junk bond market for the first time this year, as it was pushing the limits of capacity in the loan market. While its debut deal in May was warmly received — finding buyers for its euro bonds at yields little over 3.5 per cent — it has since had to pay up. Earlier this month, the company had to offer a regular interest payment of more than 6 per cent to raise €700m from European investors, while junk bond buyers in the US were able to extract a steep 8.5 per cent yield for $625m of debt. EG Group, and the private equity firm TDR Capital that owns half of the company, declined to comment.

They are hammering EU debt markets.

As ECB cretinous does 0% the banks are lending to idiots like these.

Luckily the debt is other side of channel.

 

Link to post
Share on other sites
reformed nice guy
13 hours ago, spygirl said:

Luckily the debt is other side of channel.

And we should happily extradite them when it blows up too!

Link to post
Share on other sites
14 hours ago, spygirl said:

https://www.ft.com/content/356acc82-fb11-11e9-98fd-4d6c20050229



EG Group’s debt pile has more than quadrupled since the end of 2017, topping €8bn after a new bond sale earlier this month that funded the group’s $2.2bn purchase of 568 petrol stations in the US. And just as local Blackburn residents complained about the new houses being built in their neighbourhood, some managers of high-yield bond and loan funds have raised concerns about the rapid pace of EG Group’s growth. “They’ve taken full advantage of very lax loan and bond markets,” said Azhar Hussain, head of global high yield at Royal London Asset Management. “They’re getting close to exhausting the patience of the market, and the yields indicate that.” EG branched out into the junk bond market for the first time this year, as it was pushing the limits of capacity in the loan market. While its debut deal in May was warmly received — finding buyers for its euro bonds at yields little over 3.5 per cent — it has since had to pay up. Earlier this month, the company had to offer a regular interest payment of more than 6 per cent to raise €700m from European investors, while junk bond buyers in the US were able to extract a steep 8.5 per cent yield for $625m of debt. EG Group, and the private equity firm TDR Capital that owns half of the company, declined to comment.

They are hammering EU debt markets.

As ECB cretinous does 0% the banks are lending to idiots like these.

Luckily the debt is other side of channel.

 

Debt in Euros is not a good idea if the pound depreciates. Suddenly a debt that costs £100m to service now requires £110 or £120m to service.

Link to post
Share on other sites
spygirl

ECB prints it.

EG brothers spend it ...

Billionaire Issa brothers in £440m German petrol chain bid

https://www.bbc.co.uk/news/business-55301038

All these fucking  whingers in retail, saying theres no margin, everything closing.

Well, just goes to show you just need a bit of get up n go.

try getting up at 6am and putting a 12h shift in. Thats what it takes to make it, as these brothers show ....

 

 

Link to post
Share on other sites
On 09/12/2020 at 23:06, spunko said:

They must be a front for something or someone. I wonder who is really putting up the cash - I suspect we all are.

https://www.thisismoney.co.uk/money/markets/article-9030661/Asda-takeover-deal-subject-CMA-investigation.html

Let's see where the balance sheet is in 3 years, I suspect loaded with debt and desperately trying to offload it, with the private equity tossers who 'own' it laughing all the way to the bank.

You nailed it: https://www.retailgazette.co.uk/blog/2020/12/asda-owners-line-up-adviser-to-sell-off-logistics-portfolio/

Front for private equity to asset strip it. They're not waiting around either.

Link to post
Share on other sites
  • 1 month later...
spunko
3 hours ago, spygirl said:

Quite why any company would want Topshop is beyond me, they have very little brand goodwill. Bizarre.

ASOS I thought were quite astute but apparently not.

https://www.thisismoney.co.uk/money/markets/article-9181879/Asos-emerges-major-contender-buy-Topshop.html

  • Agree 1
Link to post
Share on other sites
spygirl
8 hours ago, spunko said:

Quite why any company would want Topshop is beyond me, they have very little brand goodwill. Bizarre.

ASOS I thought were quite astute but apparently not.

https://www.thisismoney.co.uk/money/markets/article-9181879/Asos-emerges-major-contender-buy-Topshop.html

Indeed.

Its not like you are buying the shops, just the expensive leases.

 

  • Agree 1
Link to post
Share on other sites
On 25/01/2021 at 07:27, spygirl said:

Indeed.

Its not like you are buying the shops, just the expensive leases.

 

But they are dumping the leases and are probably buying the brand names and nothing else (heck neither ASOS or boohoo need a crap third world ecommerce platform).

Link to post
Share on other sites
spygirl
14 minutes ago, eek said:

But they are dumping the leases and are probably buying the brand names and nothing else (heck neither ASOS or boohoo need a crap third world ecommerce platform).

Bit more.

Customer list,. Debenhams IP - if its worth anything, website.

Theres some bones to pick over.

Just dont know what value they are.

Debs was pretty big.

Link to post
Share on other sites
2 minutes ago, spygirl said:

Bit more.

Customer list,. Debenhams IP - if its worth anything, website.

Theres some bones to pick over.

Just dont know what value they are.

Debs was pretty big.

You probably need to purchase a whole load of crap for the 2 items you want
Customer list and the domain name

Everything else would be an integration nightmare unless you are going to use Debenhams warehouses long term but you need it short term unless you are going to switch things immediately and that probably an option.

Either way the stores and leases will be left for the administrator to extract themselves from and for the landlords to find new tenants for (good luck there).

I believe Boro's plan is to knock Debenhams down now it's gone and try to attract a leisure company into that site

Link to post
Share on other sites
  • 2 weeks later...
spygirl

Billionaire Asda buyers to stump up less than £800m to clinch £6.8bn takeover

Deal fronted by Mohsin and Zuber Issa will be largely funded by asset disposals and debt deals

https://www.ft.com/content/79964b33-2406-41c8-8f24-4ff5552f1669



The private equity-backed billionaires buying Asda will pay less than £800m of their own money to take a controlling stake in the supermarket, a fraction of its £6.8bn valuation, after selling its assets and raising its debts to fund the majority of the purchase price. 

  • Lol 1
Link to post
Share on other sites
  • 3 weeks later...
Chewing Grass
3 minutes ago, spygirl said:

https://www.bbc.co.uk/news/business-56185236

HYS:

Well, that didn't take long, did it? Who could have predicted the recent debt-funded sale would result in job losses?

Is that their new Islamic business model, will the restructuring require large numbers of immigrants working for a pittance to work?

I find it mind boggling that anyone can fuck-up selling groceries these days when they are the one of the few places open.

Link to post
Share on other sites
Ash4781b
6 hours ago, spygirl said:

https://www.bbc.co.uk/news/business-56185236

HYS:

Well, that didn't take long, did it? Who could have predicted the recent debt-funded sale would result in job losses?

Ouch. It Looks quite brutal really considering they previously had Walmart as owners which I would expect would have already pushed staff changes

Edited by Ash4781b
Link to post
Share on other sites
Option5
On 04/02/2021 at 09:01, spygirl said:

Billionaire Asda buyers to stump up less than £800m to clinch £6.8bn takeover

Deal fronted by Mohsin and Zuber Issa will be largely funded by asset disposals and debt deals

https://www.ft.com/content/79964b33-2406-41c8-8f24-4ff5552f1669



The private equity-backed billionaires buying Asda will pay less than £800m of their own money to take a controlling stake in the supermarket, a fraction of its £6.8bn valuation, after selling its assets and raising its debts to fund the majority of the purchase price. 

Reminds me of Arnold Weinstock and GEC.

The end is nigh.

Link to post
Share on other sites
spygirl
6 minutes ago, Option5 said:

Reminds me of Arnold Weinstock and GEC.

The end is nigh.

GEC after Weinstock.

Tight cunt refused to spend anything. Ended up just doing cost plus contracts and beating down staff costs.

The org was threadbare and facing breakdown when he handed over to the two cretins.

Link to post
Share on other sites
  • 4 weeks later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.


×
×
  • Create New...