London-listed miner Adriatic Metals in £700m takeover talks
Adriatic Metals, a precious metals mining group, is in the early stages of takeover talks which could lead to it becoming the latest London-listed company to succumb to an overseas bidder.
Sky News understands that Adriatic Metals is in the very early stages of discussions with Dundee Precious Metals, a Toronto-listed peer.
The status of the talks and other key details, including any offer price under negotiation, were unclear on Tuesday.
One person close to the situation said it was unclear whether any formal offer would emerge.
Money blog: What Canary Islands protest means for your holiday
Valued at about £610m, Adriatic has a market capitalisation roughly one-third of that of Dundee, which has a presence in the Balkans.
With a conventional takeover premium factored in, any offer could value the target at well over £700m, according to bankers.
Adriatic produces copper, gold, lead, silver and zinc from recently developed mining operations in Bosnia and Herzegovina.
The company is run by chief executive Laura Tyler, a former senior BHP executive who is among few female bosses in the global mining industry.
London-listed shares in Adriatic Metals were nearly 6% higher in Tuesday afternoon trading amid growing bid speculation.
The two companies were rumoured to have held similar talks as recently as last year, although they did not progress to any form of public confirmation.
A spokesman for Adriatic, which is also quoted in Australia, declined to comment, while Dundee could not be reached for comment.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 hours ago
- Yahoo
Councils fly flags to support Ukraine – but block defence spending
Councils are flying flags for Ukraine from their town halls while blocking investment in the British defence industry. At least a dozen English councils have passed motions to 'divest' from defence companies because of the war in Gaza, or have taken steps to reduce their holdings in arms companies. A report by two Labour MPs has found that defence companies have missed out on at least £30 million in investment because of action taken by local councils to focus their pension funds on 'ethical' firms. Despite this, several of the councils have displayed the Ukrainian flag from their town halls in solidarity against Russia. The MPs, Luke Charters and Alex Baker, said there was 'untapped potential' in local government pensions that could be used to boost investment in the defence sector, which often struggles to access finance. They argued that supporting British defence companies would help Ukraine, which has received more than £18 billion in military and humanitarian support from the UK. The MPs said there was a 'concerning trend among UK councils to divest from defence, with at least a dozen authorities implementing partial or full exclusion policies since 2022'. The MPs did not name the councils, but The Telegraph has found evidence of town halls in London, Bristol, Somerset, Oxford and Dudley where motions have been passed banning defence investment in support of Palestine. Dudley council, which is under no single party's overall control, passed a motion to divest from defence companies with the support of Labour and Liberal Democrat councillors. The council has flown the Ukrainian flag several times since the Russian invasion in February 2022, and lit up its town hall in blue and yellow. Labour-run Manchester city council, which voted to pressure its pension provider to abandon weapons manufacturers in November last year, has celebrated Ukrainian independence day and spent £50,000 to support Ukrainian refugees arriving in the city. The motion noted that councillors 'recognise the inextricable link between war, climate destruction, and human suffering' and that 'armed conflicts not only result in loss of life, including civilians and children, but also lead to intense environmental destruction'. Labour-run Waltham Forest Council, which announced plans to sell all defence investments in August last year, has hosted events for Ukrainian residents affected by the 'crisis' in their home country. Mr Charters told The Telegraph: 'With war on our continent, this is not the moment for councils to pull back from investing in UK defence. 'Firms and financiers have been clear when we have engaged with them: barriers like weak demand signals, short-term contracts, divestment, and regulatory uncertainty are holding the sector back. 'Our report calls for urgent engagement with local government pension schemes – and sets out 12 reforms to help unlock the capital and credit our defence sector needs to grow. 'Financing sovereign defence isn't optional – it's vital to our security and economic future.' The report's findings also include an apparent admission from the parliamentary pension scheme for MPs that their savings are often deliberately not invested in defence. A letter to the MPs from the chair of the fund said that while there was no specific ban on defence investments, 'environmental, social, governance and climate change issues tend to be more pronounced in some defence companies'. Mr Charters and Ms Baker said: 'There needs to be a holistic review by officials to understand how public investment vehicles are performing when it comes to defence sector investment. 'The UK cannot afford to miss this moment due to outdated ethical aversions. 'Defence investments represent not only a financial opportunity, but also an ethical obligation to secure the nation's future amidst an increasingly volatile geopolitical landscape.' Dudley council, Manchester city council and Waltham Forest council have all been approached for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
3 hours ago
- Yahoo
NatWest apologises to millions of customers locked out of app
NatWest has apologised to millions of customers locked out of its app in the latest IT outage to hit a major UK bank. The high street bank said it was investigating a problem caused by an update to the app that was rolled out late on Thursday, leaving customers unable to access their accounts through the app since shortly after 9am on Friday. It will be disruptive to the more than 10 million customers who use the NatWest banking app to access their account every day. The lender said its other services – including card payments, in-branch, online and telephone banking – were operating as normal. A NatWest spokesperson said: 'We are aware that customers are experiencing difficulties accessing the NatWest mobile banking app. We're really sorry about this and working to fix it as quickly as possible. Customers can still use online and telephone banking, or visit a branch.' The app outage comes at a time when NatWest, like most high street banks, is pushing more customers to its online app while shutting branches. NatWest is due to close 53 more branches throughout 2025, leaving it with 431. The bank said last month that more than 80% of its active current account customers were doing their banking online, while 97% of new accounts were opened digitally. While the outage was not linked to a cyber-attack, heightened attention is being paid to banks' resilience after a spate of attacks that have disrupted retailers including Harrods, Co-op and Marks & Spencer. Banks' IT systems have come under increased scrutiny in recent months, with customers at Britain's largest banks and building societies suffering the equivalent of more than one month of IT failures between January 2023 and February 2025. Those figures did not include the full impact of an outage at Barclays that started at the end of January and affected 56% of online payments during the crucial payday period for many employees. It expects to pay a total of between £5m and £7.5m in compensation to customers for 'inconvenience or distress'. There has since been further disruption at Barclays. NatWest racked up the most time lost to outages over that period, amounting to 194 hours, through 13 incidents, for which it paid out £348,000. HSBC paid out £232,697 to its customers after 32 incidents led to 176 hours of disruption. Commenting on the latest outage, the Which? Money editor, Jenny Ross, said: 'Banks are encouraging more and more of us to rely on apps to do our essential banking, so when these go down it can be devastating. 'In the worst cases there's a risk that impacted NatWest customers may miss important bill payments, find themselves unable to pay for essential services or risk going overdrawn – issues which could come with knock-on effects like late payment or overdraft penalties, or affect their ability to get credit or borrow money.' Ross said NatWest should keep customers updated and ensure that they are swiftly compensated where appropriate. Last week, the UK government sold its final shares in NatWest Group, ending 17 years of state ownership since the £45bn taxpayer bailout that saved the bank – formerly known as Royal Bank of Scotland – from collapse at the height of the 2008 financial crisis. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
4 hours ago
- Associated Press
Tulip Real Estate Acquires Premier London Hilton Property in £30 Million Deal from Lone Star
Image Description: Sidd Mahajan is the founder and managing director of Tulip Real Estate LONDON, June 07, 2025 (GLOBE NEWSWIRE) -- In a landmark move that solidifies its presence in the UK's luxury hotel market, Tulip Real Estate, led by founder and managing director Sidd Mahajan, has acquired the prestigious 5-star Hilton London Syon Park for approximately £30 million. Image Description: Hilton London, Syon Park Hilton London Syon Park: A Jewel in West London Located within the historic 200-acre Syon Park Estate near Brentford, the Hilton London Syon Park is a standout destination in West London's high-end hospitality scene. Overlooking Syon House, the Duke of Northumberland's historic residence, and bordering Richmond Park, this 137-room luxury spa hotel offers a serene yet accessible escape for affluent travelers and is a top choice for high-end Indian destination weddings. Initially opened as a Waldorf Astoria during the 2012 London Olympics, the hotel was repositioned as a deluxe Hilton in 2019. Its long-standing reputation for elegance and service made it a prime acquisition target. Strategic Transaction with Lone Star The property was acquired from American investment fund Lone Star, which had taken control of the asset as part of a four-property portfolio earlier this year. Asset management during the transitional phase was handled by Hudson, with Tulip stepping in as the new owner. This £30 million transaction is a significant milestone for Tulip Real Estate, highlighting its expanding ambitions in premium real estate investments. Tulip's Growing Heritage Portfolio and Refurbishment Legacy Beyond modern luxury assets, Tulip Real Estate has also demonstrated a strong commitment to preserving and revitalizing the UK's historic properties. The group owns and operates several landmark heritage hotels, including: A Powerful Partnership Structure This acquisition also represents Tulip's first major hotel partnership in the UK, executed via a joint venture with a leading operator that currently manages six luxury hotels across the country. Operational management of Hilton London Syon Park will be handled by Countrywide Hotels, bringing in their specialized experience in high-end hospitality operations. Strategic Significance For Sidd Mahajan and Tulip Real Estate, the Hilton Syon Park acquisition is a defining step forward: Tulip Real Estate continues to strengthen its footprint across the UK, blending modern hospitality investment with a deep respect for British heritage. With its mix of revitalized historic properties and newly acquired luxury assets, Tulip is positioning itself as an emerging force in the UK's premium hospitality sector. Sidd Mahajan is the founder and managing director of Tulip Real Estate, a leading property consultancy specializing in UK residential and commercial real estate investments. Company name: Tulip Real Estate Email: [email protected] Website: City: London Country: UK Contact Person Name: Nikita Shah Disclaimer:This is a paid post and is provided byTulip Real Estate. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. This content is for informational purposes only and should not be considered financial, investment, or business advice. All investments carry inherent risks, including the potential loss of capital. Readers are strongly encouraged to conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. Neither the media platform nor the publisher shall be held responsible for any inaccuracies, misrepresentations, or financial losses resulting from the use or reliance on the information in this press release. Speculate only with funds you can afford to lose. In the event of any legal claims or concerns regarding this article, we accept no liability or responsibility. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without warranties or representations of any kind, express or implied. We assume no responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained herein. Any complaints, copyright issues, or inquiries regarding this article should be directed to the content provider listed above. Photos accompanying this announcement are available at:
