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...RedBird IMI spent £600mn buying debt secured on the media business from Lloyds, which carried with it the right to convert into ownership....
...Genres from fantasy novels — such as those written by Sarah J Maas and Samantha Shannon — to “cosy crime” that spans authors from Agatha Christie to Richard Osman, have underpinned booming sales....
...Royal Mail owner International Distributions Services has rejected a £4.5bn takeover approach by Czech billionaire Daniel Křetínský’s investment group, calling the timing of the bid “opportunistic”....
...“I was very conscious at every stage that the future of the Telegraph was potentially in my hands,” she said, adding that the sale of the newspaper by Lloyds Banking Group jump-started a frantic effort in...
...RedBird IMI, the vehicle backed by IMI, short-circuited this sales process by offering the family money to pay the Lloyds loan back in full....
...Lloyds declined to comment....
...Until then, the Barclay family, whose stake in the group was seized by Lloyds Banking Group, retain technical ownership of the newspaper, but with no operational control....
...managed to short circuit an auction process of the newspaper and its magazine stablemate, the Spectator, by agreeing to repay the debts of the original owners, the Barclay family, which had prompted lender Lloyds...
...Rupert Murdoch’s News UK, Czech billionaire Daniel Křetínský and Axel Springer have also registered interest....
...He has been a prominent dealmaker in the UK, making investments in supermarket chain J Sainsbury and London football club West Ham United....
...RedBird IMI paid £600mn for the debt behind the group from Lloyds Banking Group, which has the right to convert into equity in the titles....
...It had paid £600mn to buy debt behind the group, which could have been converted into equity ownership, from Lloyds Banking Group....
...This led to a complicated deal where IMI and RedBird IMI paid off the £1.1bn owed by the family to Lloyds in return for control of the Telegraph....
...The auction of the Telegraph has been paused while Lloyds Bank negotiates a deal that would leave control of the British newspaper with an Abu Dhabi-backed investment group....
...However, two people close to Lloyds said it would have been unfair to keep the process running while also reviewing the proposal....
...The family lost control of the group after failing to repay bad debts of close to £1.2bn last year to Lloyds Banking Group....
...RedBird IMI last year struck a deal to buy the media group from Lloyds for about £600mn after the bank seized control from the Barclay family over unpaid debts....
...A spokesperson for the Barclay family said: “The family continues to work on finding a mutually acceptable resolution with Lloyds Banking Group regarding the media assets.” Lloyds declined to comment....
...Israel’s military tried to play down any rift, with Israel Defense Forces spokesman Daniel Hagari saying the allies would resolve any disagreements “behind closed doors”....
...On Monday the Barclay family paid Lloyds more than £1.1bn to clear their decades-long debts with the bank....
...This was an often uplifting piece in conductor Malcolm J Merriweather’s lively performance, at its best in the coruscating movement for winds, brass and percussion....
...RedBird agreed to repay the roughly £600mn debt of the original owners of the Telegraph group, the Barclay family, which had prompted Lloyds Banking Group to seize control of the assets....
...However, Lloyd’s Market Association, which represents global insurers, last December placed Guyanese waters on the same risk level as the Red Sea, where commercial ships are facing attacks by Iran-backed...
...Lazard is also advising Lloyds....
...Lloyds and the Barclay family declined to comment....
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