RBS no longer Fairline shareholder

[petem]

Better Capital have acquired the complete interests of RBS in Fairline Boats and parent companies....

http://www.boatingbusiness.com/news101/industry-news/better-capital-injects-more-at-fairline

http://www.insidermedia.com/insider/midlands/122379-private-equity-fund-invests-fairline/

Hopefully a positive endorsement of the business.

 

[Deleted User YDKXO]

Seems odd that Fairline are thanking their supply chain? Shouldn't it be the other way round!

 

[artisan]

Perhaps they have been stretching the goodwill of the supply chain - thats the only reason they would be thanking them in this scenario!

 

[jfm]

Thanks Pete. It's hard to work out from the announcements what the transaction is. Some of the reporting seems to say BC's funds have bought RBS's investment for £7m, in which case Fairline itself doesn't see any of that money. Other reports talk of investment into Fairline ie Fairline getting money, which is something quite different. Of course, both trnasactions could have occurred; they're not mutually exclusive. The journos don't really know what they're talking about, but twas ever thus.

Whether they have injected money into Fairline or bought RBS's shares, or both, BC must have a positive view of the business going forward

Separately, all the major boatbuilders are stretching credit terms with suppliers as far as they can, hence the thanks