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Robert Tchenguiz, The Embattled Property Tycoon

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Robert Tchenguiz, the embattled property tycoon, damped down fears over his financial position last night by injecting more than £50 million into his Laurel Pub Company as part of a rescue refinancing of the business.

http://business.timesonline.co.uk/tol/busi...icle3635644.ece

Sources said Robert Tchenguiz, part-owner of the £2bn supermarket chain, is still hopeful a sale can be agreed.

http://www.independent.co.uk/news/business...ead-799617.html

The high street pub business controlled by property investor Robert Tchenguiz - which includes the Yates, Slug and Lettuce and Litten Tree chains - has collapsed into administration after failing to find a buyer for about 90 loss-making bars within the 330-site group.

http://www.guardian.co.uk/business/2008/mar/28/fooddrinks

It is not just Iceland's problem. In recent years the country's burgeoning lending arms have bankrolled investments in a raft of British companies. One of Kaupthing's best known clients is Robert Tchenguiz, the Iranian-born investor, who owns large chunks of J?Sainsbury, Mitchells & Butler, SCi Entertainment and Somerfield. The investments, all funded by the Icelandic bank, have plummeted over the past year. It is thought that Tchenguiz, who lost a paper fortune of nearly $1bn when the Qatari-backed investment vehicle, Delta Two, walked away from Sainsbury, is just one of about 15 top clients under pressure that are weighing heavily on the bank.

http://www.telegraph.co.uk/money/main.jhtm.../cckrona123.xml

A trail back to the Icelandic banks.

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Robert Tchenguiz, the embattled property tycoon, damped down fears over his financial position last night by injecting more than £50 million into his Laurel Pub Company as part of a rescue refinancing of the business.

This is his wealthier brother Vincent's view on UK property...

The influx of international capital into the U.K. has created a real estate market similar to the one in Japan that collapsed in 1991, said Tchenguiz. Japanese land prices have dropped about 50 percent from their peak. They increased in 2006 for the first time in 16 years.

http://www.bloomberg.com/apps/news?pid=206...Zg&refer=uk

Edited by BandWagon

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you know, I go into a bank and ask for 10K for a business venture.

They say, wheres your money? wheres your collateral, we dont take risks with clients cash dontachknow.

yet these guys borrow tons, invest it where they like, get annoyed when no-one will buy their loss making shite and its all the fault of the property market.

Banksters- should be shot ( except the nice ones who post on this website of course)

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you know, I go into a bank and ask for 10K for a business venture.

They say, wheres your money? wheres your collateral, we dont take risks with clients cash dontachknow.

yet these guys borrow tons, invest it where they like, get annoyed when no-one will buy their loss making shite and its all the fault of the property market.

Banksters- should be shot ( except the nice ones who post on this website of course)

You're talking to High Street bankers; they talk to investment bankers. That's a totally different creature.

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You're talking to High Street bankers; they talk to investment bankers. That's a totally different creature.

I thought bear Stearns was an IB? bet they wish theyd been more careful- but wait, they are now eligable for bail outs!

maybe not so different after all. (Note, Im not arguing with you though nationalist, you are totally correct, just making a point)

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http://www.ft.com/cms/s/0/1d888a0e-fd04-11...?nclick_check=1

Robert Tchenguiz, the property entrepreneur facing heavy losses on stakes in retailer J Sainsbury and pub group Mitchells & Butlers, delivered a sharp attack on Friday on the boards of the two companies, accusing them of failing to maximise shareholder value from their property assets.

But Mr Tchenguiz said he had no intention of cutting his losses and pledged to maintain his stakes for the long-term.

The property entrepreneur has not publicly revealed the extent of the fall in value of his 10 per cent stake in Sainsbury, a 23 per cent holding in M&B and a 15 per cent share of SCi Entertainment, the software company. But paper losses have climbed to about £700m, according to one person with knowledge of the situation.

Mr Tchenguiz ridiculed the idea that his losses had left him overstretched.

“Obviously, it’s not a nice thing to lose money. Am I upset? Yes. But all my businesses that we are investing in are making record profits,” he said.

Mr Tchenguiz said in spite of the record profits at Sainsbury, he was disappointed that the market did not value the retailer “in the correct fashion”.

But he criticised its decision this week to spend £273m on a joint venture with British Land to buy back 39 retail outlets. Having seen the attempted takeover of Sainsbury by Delta Two, the Qatari investment fund, fail in November, Mr Tchenguiz has agitated for the company to sell its property portfolio and lease it back. “At £3.50 a share, Sainsbury shouldn’t be in the business of buying real estate at net asset value, when real estate is discounted heavily in the plc’s share price,” he said.

Mr Tchenguiz is also nursing big losses from his stake in M&B, which he sees as ripe for converting into a tax-efficient real estate investment trust.

M&B is conducting a strategic review after losing £391m after closing hedges taken out on a failed joint venture with Mr Tchenguiz. The entrepreneur said he noted that shares in rival pub group Enterprise Inns had on Friday climbed 12.6 per cent after it said it was making progress on converting to Reit status.

“At some stage, managers should do what is right for shareholders, rather than what they think is right,” he said.

M&B’s prospects of thwarting Mr Tchenguiz by remaining independent appeared to improve after Punch Taverns, another rival, withdrew its merger proposal. But bids for partial stakes in M&B from private equity groups may yet emerge, people close to the situation said.

Mr Tchenguiz said he hoped a “a strategic review would bring a private equity investor to buy into M&B, have a controlling influence alongside the management and the existing board, and buy out those shareholders who wanted to exit at a premium”. Mr Tchenguiz insisted, however, that he was not seeking an exit from M&B.

Copyright The Financial Times Limited 2008

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http://www.telegraph.co.uk/money/main.jhtm.../cnmandb113.xml

Robert Tchenguiz seeks to oust Mitchells & Butlers chief

One of M&B's largest investors said this weekend: "If the current chief executive cannot attract buyers when the company is trading at such a big discount the investors must find someone who can."

Another leading shareholder added: "M&B is essentially a property company, which is why it has attracted property investors like Tchenguiz, Magnier and Hemmings. They can clearly see the value of the property portfolio and are deeply frustrated by a management that seems unable to monetise it."

Miracle economy

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  • 292 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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