Page 5 - Tom Fish News Today

Investment company International Public Partnerships Ltd. said on Friday that it is buying a portfolio of projects in New Zealand for 200 million New Zealand dollars ($128 million) from Public Infrastructure Partners, which is managed by a local alternative asset manager.

Man Group PLC said Friday it is kicking off a share buyback program worth up to $125 million, as the investment management business seeks to continue handing back cash to shareholders while maintaining a "prudent" balance sheet.

Paragon Banking Group PLC, led by Slaughter and May, announced on Tuesday that it is launching a share buyback program worth up to £50 million ($61 million) after the British mortgage provider reported "strong" financial performance.

The directors of gift card and Christmas savings club operator Appreciate Group said on Friday that they have agreed to the £83 million ($100 million) takeover offer from payment services firm PayPoint, in a deal guided by Pinsent Masons LLP and Addleshaw Goddard.

Specialty chemicals company Elementis PLC said on Wednesday that it is selling its Chromium subsidiary to Yildirim Group, a Turkish industry giant, for $170 million in a move to reduce debt after a strategic review of the business.

Two former pension scheme trustees were handed suspended sentences on Friday for making illegal loans valued at £236,000 ($286,000) from a workplace retirement scheme to a textile industry business, in a prosecution brought by the U.K.'s pensions watchdog.

Sausage casing company Saria said on Friday that its subsidiary is buying Devro, a U.K. manufacturer of collagen products for the food industry, in a £540 million ($653 million) deal advised on by Travers Smith LLP, as it seeks to expand the group.

University workers across the U.K. kicked off the first of three days of strike action on Thursday in their fight for better pay, working conditions and pensions, as other unions take industrial action because of the spiraling cost of living. 

 Anglo-South African financial services giant Investec said on Thursday that it is kicking off a £350 million ($415 million) share buyback program as it reported increased pre-tax profits on the back of strong revenues and rising interest rates.

The Competition and Markets Authority launched a probe on Tuesday into the proposed merger of two London real estate giants with a combined portfolio worth £5 billion ($5.9 billion), a deal led by Hogan Lovells and Herbert Smith Freehills LLP.