WELCOME to scotsman.com’s Scottish Business Briefing. Every morning we bring you a comprehensive round-up of all news affecting business in Scotland today.
ENERGY & UTILITIES
Helius Energy taps shareholders for cash as Speyside site heats up
HELIUS Energy, the renewable power developer behind a plant to convert whisky waste to energy on Speyside, yesterday unveiled plans to raise nearly £6 million to start building a biomass power station in Bristol. The Aim-quoted firm will place £5.2m-worth of shares at 12p a share with its existing investors and will offer shareholders the chance to buy further shares worth a total of £1.06m (http://www.scotsman.com/business/management/helius-energy-taps-shareholders-for-cash-as-speyside-site-heats-up-1-2797837|Scotsman|Scotsman}).
Bahraini investor in £145m swoop for Aberdeen oil firm Hydrasun
Scottish oilfield services firm Hydrasun has been sold by the former private equity arm of Barclays Bank in a deal believed to be worth about $225 million (£145m). Equistone Partners Europe, which was spun out of Barclays in 2011, sold its controlling stake in the Aberdeen-based firm to Bahraini investment manager Investcorp, former owner of luxury goods brands Gucci and Tiffany & Co (Scotsman).
A buoyant north-east ‘vital’ to keep economy of Britain afloat
A buoyant north-east economy was absolutely vital to efforts to improve Britain’s prospects, Scottish Secretary Michael Moore said last night. Speaking at CBI Scotland’s annual north-east dinner in Aberdeen, Mr Moore said the Granite City had a key role in the UK and wider international economy (P&J).
MEDIA & LEISURE
Minoan gets support as it tries to pass Greek planning labyrinth
GREECE’S government today threw its support behind plans by Glasgow-based property developer and travel agency Minoan Group to build a resort on Crete despite an appeal being lodged against the project. Minoan said Greece’s deputy minister for development had called the plan “a strategic investment bringing considerable quantitative and qualitative results to the Greek economy” (Scotsman)
Pools specialist taps into Olympics for profits rise
Spa and swimming pool specialist Barr + Wray has posted an 11% rise in turnover, from £14.1 million to £15.6m, helped by contracts to build temporary pools at the London Olympics. The Glasgow company designed, installed and built the training pools for the Olympics and Paralympics and has more recently been involved in dismantling them (Herald).
Curtain opens at film firm Park Circus’ French office
PARK Circus, the Glasgow-based film distributor, is to open an office in Paris and bring two classic movies back to the big screen. The company will enter the French market in October with a digitally-restored version of director Alfred Hitchcock’s only three-dimensional (3D) film, Dial M For Murder (Scotsman).