Sign up for our newsletter
Technology / AI and automation

SAMUEL MONTAGU BUYS 26.4% STAKE IN EXTEL ON BEHALF OF CLIENTS

Merchant bank Samuel Montagu yesterday forked out UKP64m – 481p a share, against a price of 503p in the market – to acquire Robert Maxwell’s 26.4% stake in news agency and communications group Extel Group Plc from NM Rothschild on behalf of unnamed clients believed to be US rival McGraw Hill, or UK publisher Norton Opax; according to the London Evening Standard, United Newspapers chairman Lord Stevens, who through the MIM fund management group already holds 10% of Extel, is another potential buyer but this seems unlikely as his lordship’s relations with Maxwell are good enough for him to have acquired the stake directly; Rupert Faure-Walker of Montagu says that he is in negotiations over the stake and will divulge the name of his clients within days rather than weeks.

White papers from our partners


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

CBR Online legacy content.