Aimee joined Breakingviews in 2017 and writes about European airlines, insurance and property companies. Based in London, she previously spent three years at The Sunday Times as banking correspondent. Prior to that, she was a senior reporter covering the bond market at IFR, a financial trade publication published by Thomson Reuters. She holds a degree in English and History from the National University of Ireland, Galway, and a diploma in journalism from the London School of Journalism.
The buyout firm is taking control of Ahlsell again, two years after selling out of the Swedish distributor. Its recent ownership suggests there won’t be much scope to cut more costs. To get a decent return this time, CVC will have to pile on debt and hope for revenue to pick up.
Interserve is in talks to clean up its balance sheet. While banks may agree to write off a chunk of its nearly 615 mln pounds of debt, costly delays and botched projects remain. The biggest challenge will be convincing creditors and the government it can deliver public services.
The 4.4 bln pound UK packaging company delivered a 32 percent surge in first-half operating profit. A boom in recycling and e-commerce suggests the firm can deliver more of the same. But trade war rumblings and an oversupply of paper are weighing on its share price.