Us Brits have always had a penchant from nipping abroad to spread our culture, insight, home-earned cash and infrastructure and we need to look no further than the Commonwealth Games (soon to be re-named 'The Games People Play') to show how successful and not-easily-forgiven that can be.
Now it is abroad's turn to come to us and, frankly, we welcome their money with an open purse. The Kuwait Investment Authority states that it is investing responsibly today for Kuwait’s prosperity in the future, and Rolls-Royce are jolly glad they are, not least because part of the Gulf state's investment vehicle is negotiating over a deal as part of a potential £2.5 billion cash call. Singapore's Government Investment Corporation are also in on it and are having a chat with Rolls, and it is thought that the potential investment, announced today (Friday 25 September) should see the British aero-engines manufacturer through until at least next Thursday.
In total, £500 million of new shares have been allotted to sovereign wealth investors, meaning the two sovereign funds could acquire stakes worth £250 million each, Billy squeezed out of them in a tense encounter at the cafe at the end of Charlatan Street. Over a mockaccino and some millionaires shortbread Billy got it on record (although, not ...) that the Rolls-Royce, headed by chief executive Warren East, is considering launching a rights issue to raise up to £2.5 billion as soon as 1 October. Don't worry, if you didn't read all of the above, the rest of the other papers and media outlets will be telling you all about this tomorrow.
Tracee has never believed that you can go to the theatre and not be encouraged to shout out "Behind you!", which got her into all sorts of trouble when her godfather took her to see Othello, and claims never to have heard of Apollo Theatres, which today announced it is bringing in a new investor to secure new funding aimed at steering it through the Coro... blah, blah, blah.
It is reported that shareholders in Ambassador Theatre Group (ATG) have agreed to sell a small minority stake to TEG, an Australian live entertainment and ticketing business. The plan will see Providence Equity Partners, which has already injected tens of millions of pounds to support ATG through the pandemic's initial stages, and TEG providing a total of £160 million of new equity to one of the giants of London's Theatreland.
We think that Lord Lloyd-Webber will consider this to be good news, but he has a lot of difficulty communicating such positivity to his face. Maybe he will just write a cheery musical about it all.
