Computer leaser IBL Plc has looked like an accident looking for some-where to happen almost from the time it went public three years ago, and yesterday the boom fell. The company’s share price slumped to 46 pence, then came a cryptic announcement from IBL that following adverse market reaction to its 1986 results, the company has encountered difficulties with certain of its UK bankers in maintaining an appropriate level of borrow-ing facilities. While still talk-ing to its bankers, IBL had opened discussions with a view to it being acquired. The first name on everyone’s lips was Atlantic, but foll-owing the untimely death of chairman John Foulston, Atlantic ruled itself out of the running. IBL’s one strong market now is Holland, pointing to Econocom International NV, but IBL chairman Philip Coussens is close to the head of French Promodata leasing arm of the IndoSuez banking group, and Promodata is keen to expand outside France.
This article is from the CBROnline archive: some formatting and images may not be present.
CBR Online legacy content.