The financing comes from both venture and private investors.
Buyer Tilbury Douglas is funding the acquistion by a rights issue that will cover both the purchase and the assumption of Building & Property’s circa. £10m net debt.
Perkins Foods announced last week that it had received an indicative offer from a financial buyer and today announced that ABN Amro is its new owner.
The company is about to enter into clinical trials with its lead product, NOStentin.
Most of the extra investment however is to go into US rather than UK funds
The company failed to secure a second round of financing following the closure of breathe freely, its unmetered internet access service.
U.K. investment bank Durlacher expects to report substantial losses for the six months to December 31. Shares in the company fell by 19 per cent to 23.5 pence upon the announcement.
The European Investment Fund and Danish Bank Roskilde Bank A/S will offer an alternative to VC financing for SMEs.
Press reports say that the ferry business which was put up for sale in June is about to be sold.
Schroders PLC, the UK asset management group saw its private equity investment profits show a more than threefold jump from £14.9 million to £49.9 million for the first half year of 2000.