West Palm Beach (HedgeCo.Net)- Centaurus Capital Ltd. announced an increase in their stake in Biffa PLC to 4.23%. The London-based hedge fund bought about 1.15 million shares in two tranches, lifting its stake to about 14 million shares, or 3.75%.<\/p>\n
UK waste management and recyling business, Biffa, recently agreed to a takeover offer by WasteAcquisitionco, a consortium of various entities within the Montagu Funds, the Global Infrastructure Partners Funds and UCIL at 350 pence per share, valuing Biffa at about £1.23 billion ($2.4 billion).<\/p>\n
Centaurus Capital is a private investment management company with an emphasis on Europe. Centaurus was launched in year 2000 and originated from an investment team working together at BNP Paribas since 1993. <\/p>\n
In 2005, the Centaurus Alpha Fund was awarded the Hedge Funds Review European Performance Award in the category of Event Driven Fund. <\/p>\n
Other hedge funds such as Cheyne Capital Management (UK) LLP and Davidson Kempner European Partners LLP, an affiliate of New York-based Davidson Kempner Capital Management LLC, have emerged as investors in Biffa in the hope of a bidding war.<\/p>\n
Alex Akesson
Editor for HedgeCo.Net
Email: alex@hedgeco.net<\/p>\n
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