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Top story
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Learn from the lessons of Merry Hill, government warned
The government’s hotly-debated Enterprise Zones must not repeat the mistakes of the 1980s, which sent Dudley town centre into “terminal decline”. That’s the view of property consultant GVA, which spoke to Insider. Stephen Hollowood, senior director at GVA’s Birmingham office, said he expects Chancellor George Osborne to pledge £100m towards the Enterprise Zones, but urges the government to steer clear of the “detrimental” mistakes made under Thatcher’s rule.
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Deals
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Punch Taverns to demerge Spirit arm
Staffordshire pubco Punch Taverns has revealed plans to demerge its managed pub division and reduce the number of leased properties to 3,000. The announcement came as a result of Punch’s strategic review, released this morning.
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Capper & Co snapped up by AF Blakemore
AF Blakemore, based in Willenhall, has bought Capper & Co - the Spar shop operator based in South Wales. Details of the deal, estimated to be worth more than £40m, are likely to be unveiled this week.
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Weightmans and Mace & Jones agree merger
Law firm Weightmans, which has offices in Birmingham and Leicester, has agreed terms to merge with North West firm Mace & Jones. The deal will create a firm of more than 1,000 staff with a combined fee income of £75m.
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Clearwater advises £25m US takeover
The Birmingham office of Clearwater Corporate Finance has advised Barclays Private Equity on the £25m sale of Femcare Group. NASDAQ-listed Utah Medical Products (UTMD) bought the Hampshire-based contraception supplier in the transatlantic deal.
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Agfa buys Litho Supplies
Sixty-four jobs have been saved at Breaston-based Litho Supplies UK. The business was bought by Belgian digital printing company Agfa. Litho Supplies was sold by corporate restructuring firm Valco Capital Partners and advised by Leamington Spa-based law firm Wright Hassall.
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Property
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Hotel and casino scheme gets go-ahead
Plans for a casino, three-star hotel and 300-apartment scheme in Birmingham city centre have been approved by city councillors. The proposals are set to create more than 220 jobs and generate annual revenues of nearly £9m for the city.
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RASE agrees Stoneleigh Park deal
The future of Kenilworth’s Stoneleigh Park - home of the Royal Agricultural Society of England (RASE) - has been secured after attracting up to £50m of investment over the next decade. RASE has granted a lease on the site in a deal secured by the Birmingham offices of accountant Chantrey Vellacott DFK and law firm Martineau.
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Business
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Villiers calls on leaders to support £32bn rail plans
Transport minister Theresa Villiers has urged business leaders in the Midlands to make their voices heard if they want the government’s plan for a £32bn high-speed rail network to go ahead. She told Insider: “For years, governments have tried to address the north/south divide, but this is going to provide the most effective way to deal with that than anything that’s been tried over the past half century.”
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Santander banks on Black Country move
Santander has opened a corporate banking centre in Wolverhampton. The bank said the move forms part of its plan to work more with manufacturing businesses.
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Midlands Business Insider editor Andy Coyne on the necessity for pro-HS2 campaigners to make their voices heard.
