The Banking and Strategy Initiative

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Another Qatar bid for Sainsburys? | Deal insight

The Qataris are bidding for the 2022 Olympics, Manchester United and Sainsbury’s even as Chinese bid up Oil and Energy assets in the Year of the Dragon. Chinese firms usually withdraw  after a first bid, refusing to be drawn into the “uppin’ the stakes” game same as the Indians who selectively bid for any Industry outside but have been behind Football Clubs, Telecom, and Energy assets too. .

Other deals doing the rounds across the pond include Deutsche Bank ideating a split of Imperial Tobacco assets between BAT and Japanese Tobacco, the Bowleven bid from Dragon Oil (Turkmenistan) and Anglo American being waited on by investors though the company thinks its fine with a $12 bln investment in Brazil’s Rio Iron Ore assets in Capex and nothing else to counter the Xstrata dethroning of their rank in mining and probably some Gold companies writhing as the metal keeps up the ticker and LME is up for grabs by the big board for a puny little less than $ 2bln bid.

Qataris’ QIA owns 26% of Sainsbury’s and had failed in its 2007 attempt to take control, and having then bought Harrods of London and the US Embassy bldg in Mayfair for $3 bln together. The QIA has shown interest in MAn U and Everton in the last three years of a deeper crisis within the Soccer world , leverage wiping out team franchises and keeping Man U on the brink. A GBP 2 bln bid would have wiped out the ballooning franchise debt.

Qataris’ Cavendish owns 60 % of ArcleorMittal. While South African Nathan Krish bought out Tower 42 for $420 mln, Qataris’ own 26% in Songbird, the owners of Canary Wharf and put the 1 Cabot Sq office of Credit Suisse under sale and Lease back to CS for GBP 330 mln. They own 6% of Credit Suisse and the 540,000 sft building houses CS’s most extravagant offices including its head offices in Zürich and remaining property in USA

The Kuwait fund bought the old LSE site for $250 mln making Asians 1 in 6 in 2011 property deals giving Bollywood hope of another London extravaganza. Malaysian Pension funds EPF and PNB  as also individual UHNW investors from ASEAN are showing up in London (Telegraph)

 

 

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