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Aerospace, Technology

DAILY BRIEFING: Debt worries for Staffordshire aerospace firm Doncasters

source site www.thisismoney.co.uk

BORROWING FEARS One of Britain’s oldest engineering companies is sitting on debt of £1.2bn, accounts reveal – 12 times earnings at Staffordshire aerospace firm Doncasters.

Auditor PwC said it meant the 239-year-old, Dubai-owned firm’s ability to raise credit was uncertain.

MORTGAGE BUYER Credit-checking firm Experian is reportedly eyeing a chunk of mortgage broker London & Country.

L&C is understood to be seeking to sell a 25 per cent stake privately, following this up with a float likely to value it at up to £300million.

BUILDING SELL-OFF Builder Carillion could sell some Middle East operations to raise cash. Its stock fell 70 per cent this year after it revealed an £845million profit hit due to contract problems, replaced its boss and axed the dividend.

”BOSS THREAT Shareholders have told the boss of miner BHP Billiton to improve performance in six months or face the sack, sources say.”

They reportedly warned chief executive Andrew Mackenzie he faced a ‘flashpoint’ in spring if progress wasn’t made.

BOOKIE TIE-UP Ladbrokes Coral is said to be considering a sale to online rival GVC Holdings ahead of a curb on fixed-odds terminals – a vital part of Ladbrokes’ business.

It was reported that talks over a £3.2billion tie-up with GVC stalled over regulation fears.

FURNITURE SALE Midlands furniture tycoon Charles Wade may sell two firms to turnaround experts. He is understood to have hired KPMG to flog Feather & Black and Multiyork.

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