City news round-up
MBO for Capital
Ireland-based Capital Bars, which owns Planet Hollywood, the Major Toms pubs and the Capital Hotel chain, has been approached by its management team with an offer to buy the firm. The company said that while discussions about the possible offer are still ongoing, any offer the buyout team make for the group would not exceed 21p per share.
Majestic rise
Drinks retailer Majestic Wine has reported a rise in like-for-like sales of 13.1 per cent for the six months to October 1. Profits rose 40per cent to £1.57m on overall sales up 20 per cent to £44.4m. The group has 98 stores in the UK with eight more planned this year. The average bottle of wine sold was £5.35.
Belgo unearth mystery
The unknown buyer who snapped up 14 per cent in Signature Restaurants, formerly known as Belgo, is to meet the firm's executives in London next month. Kintaro International bought the shares last month sparking rumours of a takeover.
Coliseum buys
Sports Café, the growing chain of sports-themed bars, has been bought by Coliseum, a cash shell. Sports Café has three outlets in Birmingham and Cardiff as well as its flagship site near Piccadilly Circus in London. Coliseum, which floated in the summer, raising £2.7m, hopes to build a chain of more than 20 bars.
Castel eyes Oddbins
Castel Freres, the French wine producer and owner of Nicolas chain of wine shops, is poised to buy Oddbins, the off-licence group owned by Seagram. The £65m deal is dependent on Diageo and Pernod Ricard gaining regulatory approval in the US for its joint purchase of Seagram.
Who's dealing?
A director at AG Barr, the softs drinks maker best known for Irn Bru and Tizer, has sold more than a third of his stake. Sales and marketing director James Dawson made £45,000 by selling 10,195 shares at 442p, leaving him with 19,246 shares. Barr sells more than half its products north of the Border, where profits were knocked by poor weather. It is aiming to boost its market share in England and Wales.
