CANDOVER Investments will spin off its private equity management arm to a group of its directors as part of its wider plan to wind down the firm. It will offload Candover Partners Limited (CPL) to new entity Arle Capital Partners, an investment advisory firm set up by the group of its executives, for a nominal sum and sell 29 per cent of its investment portfolio to an entity backed by Arle and private equity group Pantheon.The value of the sale is expected to come in at around £60m – a heavy discount to the carrying value of the assets. The funds will be returned to its investors as the firm seeks to claw back losses incurred during the financial crisis.Candover also announced long-standing chairman Gerry Grimstone plans to step down after the sale closes, adding “the search for a successor has begun”.Malcolm Fallen, Candover’s chief executive, said: “This is the last significant step in implementing our plans to return cash to shareholders over time.“The sale of CPL to its executives will create an independent, motivated and incentivised manager focused on maximising and realising the value in the portfolio.”Candover’s move to sell its portfolio of companies and return cash to investors follows a failed attempt to sell the business in August.The firm was undone by a series of ill-judged acquisitions at the height of the boom. But when the market went sour, Candover saw the net value of its assets fall by half and was forced to allow investors a chance to cancel outstanding commitments to the fund.The Candover Partners sale comes after an announcement in September that it had agreed the sale of its Equity Trust unit to private equity rival Doughty Hanson, in a deal valuing the business at £297m.It also said in October a deal to sell its Ontex nappy-making business to US buyout firm TPG and the private equity unit of Goldman Sachs had gained EU regulatory approval.The sale of the remainder of Candover’s assets could still take years to complete, with the firm insisting there will be no fire-sale.GERRY GRIMSTONECANDOVERCHARISMATIC chairman Gerry Grimstone will soon sever his relationship with Candover that has lasted over a decade. The 60-year-old announced yesterday he will step down when the sale of Candover Partners Limited to a group of its executives closes next year. His time at the firm has been tumultuous – for many years Candover was a roaring success story, wielding a Midas touch that was the envy of the private equity industry.But Grimstone experienced the flip side of the coin when the financial crisis hit and the value of its portfolio plummeted. He received criticism for a number of acquisitions at the firm that were deemed ill-judged.Grimstone, though, is no stranger to criticism. He came under fire from the left for his role in the privatisation drive of the early 1980s.As assistant secretary at the Treasury from 1982 to 1986, he was a key adviser to Margaret Thatcher during her landmark £5.4bn asset sales. He oversaw 20 major sell-offs including offloading the water companies and privatising BT. While the sales were lauded in the City, it was famously described as “selling off the family silver” by Harold Macmillan. He later went on to advise the Labour government as it attempted to claw back funds during the financial crisis by selling off state assets.While he made his name as a civil servant, he made his fortune as an investment banker. He joined Schroders in 1986, where he rose to vice chairman of worldwide investment banking, splitting his time between London, Hong Kong and New York.He maintains an interest in the civil service, holding the position of chairman of the Nominations Committee and member of the Remuneration Committee. He was overlooked for the chairmanship of the court of directors at the Bank of England.The physically imposing Grimstone has a reputation for being both intelligent and combative.The divorcee with three children has also been a member of the Standard Life board since 2003. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition KCS-content whatsapp Tags: NULL Candover to sell CPL to its management More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Show Comments ▼ Monday 6 December 2010 9:00 pm Share whatsapp
With the decline of
PC, the Internet has become the entrance of the domain name no longer scenery. The development of mobile Internet, so that the domain name in the PC side of the mobile terminal in the process of subtle changes occur. The browser is no longer the only entrance, and the App contest has been equally matched, in addition to limited input capabilities of mobile devices in the mobile browser flaw, the input domain is less and less, more users choose navigation jump or add to favorites.
most of the mobile sites are PC two domain name, which is based on the original domain name to add a little, such as Taobao’s mobile site is m.taobao.com, sina is 3g.sina.com.cn. Although this domain name and PC side to ensure a high degree of consistency, but not conducive to the user’s memory.
we also see in recent years, the increasingly prosperous navigation site.
The market value of
2 billion 650 million, A shares listed, 2345 navigation site navigation is called let chicken ribs into people’s vision, once again, also let people reexamine the site navigation of mobile Internet era value. 2345 site navigation ranked domestic navigation website second echelon, second only to hao123 and 360.
belong to the second echelon of a web site navigation official told us, each site navigation business model for the conversion of traffic after the split, the main revenue from the electricity supplier, page tour, and search." Low threshold technology, poor user stickiness has been hailed as the bane of site navigation, and its weakness in stark contrast, it is difficult to shake the cash flow advantage. Site navigation has already replaced the domain name to become the Internet portal, and eye-catching performance of the impact of the mobile internet.
at the same time, with the scarcity of high-quality domain names, domain name transaction prices are constantly high.
in the first half of this year, the world’s largest high-end domain name trading platform and monetization provider Sedo.cn contributed a total of 16216 domain name transactions, the total turnover reached $35 million 900 thousand. Domain name prices showed an upward trend year by year, the average transaction price rose 17% to $2214, the median price rose by $7% to $616. Its market research report shows that the number of buyers in China grew by 3%, becoming the fastest growing number of buyers of domain names.
since the domain name is so expensive, but also in the mobile era of input is not very convenient, in the future, you still need a domain name?
astronomical domain continues to be born in the mobile era
domain name in the mobile era seems to become more and more important, we also see Luo Yonghao 2 million yuan acquisition of Trinidad and Tobago’s top domain name – t.tt; millet opening price up to 22 million 450 thousand yuan mi.com, and has become one of the most expensive Chinese in the history of the Internet domain name".
why is this answer to this question, we must first understand the domain name business itself past life. >