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BULLETIN: London Merchant Securities Ratings Unaffected by Inflexion PLC Acquisition Jan 04
Standard & Poors, Jan 2004
Abstract
LONDON (Standard & Poor's) Jan. 21, 2004--Standard & Poor's Ratings Services said today that its ratings and outlook on U.K. property and venture capital group London Merchant Securities PLC (BBB+/Negative/A-2) remain unchanged by the announcement of an acquisition by its venture capital division of a majority interest in venture capital company, Inflexion PLC. Of the -18 million ($32 million) total consideration, only -6 million will be in cash, with the remaining -12 million to be met by a transfer of quoted securities from the existing venture capital division. LMS is also committed to invest a further -15 million over the next five years by subscribing for new shares, the timing of which is discretionary. As such, no material impact on...
Companies mentioned in this report are: Derwent London PLC
Action: S&P Event
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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