Hoare Govett Ltd.’s managing directors are considering teaming up with Oriel Securities Ltd. to buy out the U.K. broker from parent Royal Bank of Scotland Group Plc, two people with knowledge of the talks said.
Royal Bank of Scotland Group Plc, the U.K.’s largest publicly-owned bank, hired Lazard Ltd. to advise on the sale of parts of its equities unit, including stockbroker Hoare Govett, said a person with knowledge of the talks.
Royal Bank of Scotland Group Plc, Britain’s biggest state-owned lender, agreed to sell its Hoare Govett corporate broking unit to Jefferies Group Inc. as the U.K. lender shrinks after getting a government bailout.
Royal Bank of Scotland Plc is preparing to drop Hoare Govett as its corporate broker, after selling the unit to Jefferies Group Inc. in February, the Independent on Sunday reported, citing an unnamed banking source.
Dominic Lester, joint head of European investment banking at New York-based securities firm Jefferies Group Inc., said the acquisition of Hoare Govett from Royal Bank of Scotland Group Plc will help the firm increase its market share in U.K. equities.
Royal Bank of Scotland Group Plc, Britain’s biggest state-owned lender, is nearing an agreement to sell its Hoare Govett corporate broking unit to Jefferies Group Inc., two people with knowledge of the talks said.
Slaughter & May and Latham & Watkins LLP advised Thomas Cook Group Plc, the 172-year-old tour operator that required an emergency loan 18 months ago, on plans to raise 1.6 billion pounds ($2.4 billion) to restructure its borrowings as it cuts jobs and closes stores to pare costs.
Just before sunset, Andrew Booth is sipping a gin and tonic aboard a boat carved like a golden phoenix in the moat surrounding Angkor Thom. One of several capitals of the Khmer empire (802 to 1431), Angkor Thom is part of Angkor Archaeological Park, a 400-square-kilometer Unesco World Heritage Site whose most famous attraction, Angkor Wat, draws some 2 million visitors a year.