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Top story
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Venkys close to Blackburn takeover
Indian-based conglomerate Venkys is closing in on a deal to buy Blackburn Rovers FC from the Walker Trust. The club’s chairman John Williams this morning confirmed that “detailed discussions” have taken place and a deal should be completed next month. If the takeover goes ahead, Venkys would be the first Indian business to own a Premier League club.
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Deals
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MSIF launches new fund
Merseyside Special Investment Fund (MSIF) has launched a new funding service. It is ready to invest in local businesses through its in-house fund management team Alliance Fund Managers (AFM). The Merseyside Loan and Equity Fund is made up of evergreen money - capital that has returned to MSIF from repayment and realisations from investments made by funds which launched in 1996 and finished investing in 2008.
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Management team buys Morgan Lambert
Gas safety management consultancy Morgan Lambert has been acquired in a management buyout. The company, which employs 27 staff, has been bought by Simon Millington and Michael Lord.
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Magnifico moves for Midlands rival
Magnifico IT Services, based in Leigh, has bought Midlands rival Digital Paint for an undisclosed sum. The acquired business, which specialises in web design and development business, was founded in 2001 and has a client base of approximately 400.
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Business
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Job fears at Novartis
Almost 200 jobs are at risk at pharmaceutical firm Novartis’ vaccine plant in Merseyside. The factory employs about 700 people at the site, which produces flu vaccines and a swine flu treatment.
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Cruise terminal could bring £12m boost
Construction of a full cruise liner terminal in Liverpool could double its annual economic impact from £6m to more than £12m, according to the city council. The news comes amid fresh calls for the government to overturn a decision that prevents the terminal from expanding its customs and luggage facilities.
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Government scraps Cheshire waste support
The government has withdrawn £100m of support for Cheshire’s 25-year waste disposal masterplan. Cheshire West and Chester (CWAC) and Cheshire East Councils have been on the verge of finalising a deal with their preferred bidder for the £850m joint contract.
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Insider Membership Deals
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Property
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Boohoo.com takes big Burnley shed from Hemmings
Northern Trust, the Trevor Hemmings-backed property developer, has secured the letting and forward sale of a 150,828 sq ft warehouse and office complex at Heasandford Industrial Estate, Burnley. The deal also includes eight acres of adjoining expansion land.
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Ocon looks beyond student flats for growth
Ocon Construction, the sister business to Stuart Wall’s student accommodation specialist Opal, is looking to diversify as it seeks work in new sectors. Managing director Andy Barker told Insider: "We’re still busy with student accommodation projects, for Opal and other clients, but there’s a natural flow for us to look at care homes and hotels, for instance."
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Wigan Council approves £200m regeneration plans
Manchester property company Maryland Securities Group has secured planning permission for a major £200m regeneration scheme in Wigan town centre. The town’s council has given the go-ahead for the 1m sq ft development on a 15-acre Eckersley Mills site bounded by the Leeds Liverpool Canal and the River Douglas.
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Other News
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Reeds makes £800,000 investment
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Orbit signs three in Stockport
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CPUK secures Blackpool Sainsbury's deal
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Anderson meets NESV for Anfield talks
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Downing scheme named world’s best
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