P.M. BRIEFING : Hoylake Claims Backing for BAT Bid
LONDON — A consortium led by Anglo-French entrepreneur Sir James Goldsmith said today it had found powerful backers for its $21-billion bid for British conglomerate BAT Industries PLC.
General Electric Co. PLC of Britain and Istituto Finanziario Industriale Spa, the holding company for the Italian Agnelli family, which controls the Fiat motor empire, have thrown their weight behind Europe’s biggest takeover attempt.
In a statement, Goldsmith’s concern, Hoylake Investments Ltd., said that others participating were Bankers Trust International Ltd., the merchant banking arm of U.S.-based Bankers Trust, the French investment bank Cie Financiere de Paribas, Swiss investment group Pargesa and Rothschild et Cie Banque, French arm of the Rothschild family business.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
