City Spy: Investors left choking on their fish supper
The world’s biggest salmon farmer didn’t exactly have investors leaping about last week.
Geveran Trading, controlled by shipping and oil billionaire John Fredriksen — who’s been hit hard by collapsing crude prices — sold a 4.42 billion kroner (£360 million) stake in Marine Harvest last week, placing 37.8 million shares via bookrunner Morgan Stanley.
That was on March 2. A day later it said it had lost the best part of 2.9 million fish (albeit insured) in Chile due to a surge in toxic algae, putting the stock below the offer price. Fishy.
Jetwise miss the memo on bubble fears
Property types are wondering whether it’s 2007 all over again and another crash is on the cards.
Then Spy notes this tweet from private-plane firm Jetwise ahead of the annual industry jamboree in Cannes next week: “Taking a private jet to Mipim? Book your seat for €1450! Get your original ticket refunded.”
Sell everything.
Did Wagner show his lack of Powa?
So the Powa debacle looks to have been cleared up, with administrators Deloitte finding buyers for two of the three tech businesses set up by serial entrepreneur and loudmouth Dan Wagner.
It transpires Ben White, the co-founder of London-based venture-capital firm Notion Capital, is leading a consortium buying e-commerce app PowaTag, while Greenlight Digital is taking charge of PowaWeb, which it bizarrely says generates “positive revenues”, whatever that means.
But Spy wonders what happened to Richard Thompson, the former QPR chairman and Jaeger owner, whom the company claimed was buying it after it went into administration… More hot air from Wagner?
