In a bid to rescue the hospitality industry from financial woes, the government of England and Wales has decided to extend the Covid licensing rules, allowing pubs to continue selling takeaway drinks. Originally introduced in 2020 during the pandemic, these rules permitted pubs to serve customers through hatches when forced to close. The initial expiration date of September 30 has now been pushed to March 2025. The move comes after the rules were extended twice earlier due to the ongoing crisis. Despite the extension, the government remains committed to seeking a “permanent solution” to support local pubs and bars. The decision to extend the rules was warmly welcomed by the industry, with The Sun newspaper quoting a source saying that the prime minister had heeded their concerns.
L’Occitane International Considers Privatisation
Shares of L’Occitane International, a skincare chain with a global presence, surged on the Hong Kong Stock Exchange following news of its controlling shareholder’s contemplation of taking the company private. The billionaire chairman, Reinold Geiger, already holds nearly 75% of the shares. L’Occitane boasts over 3,000 outlets spanning 90 countries and a workforce of over 8,500 employees. Trading in the company’s shares was briefly halted after Bloomberg News reported advanced talks between Mr. Geiger and stakeholders. Although L’Occitane refuted reports suggesting a valuation of $6.5 billion, the potential offer price is projected to be no less than HK$26 a share. The acquisition follows a trend of London-listed companies exploring shifts to the U.S. market for greater support and investment opportunities.
YouGov Eyes U.S. Listing Following Expansion
YouGov, the British polling company, is considering listing in the United States after its recent acquisition of Germany-based GfK’s consumer panel business significantly bolstered its operations. The company is exploring both moving its primary listing to the U.S. and establishing a secondary listing there. The acquisition has propelled YouGov’s size by 50%, prompting its non-executive chairman to view the U.S. market as a natural base due to its substantial investment in marketing data and savvy customer base. This strategic move echoes the trajectory of other London-listed companies like Ferguson and CRH, which have shifted or plan to shift their listings to the U.S. for enhanced market support and growth opportunities.
