City round-up: DWF; Scapa; Lookers

Sir Nigel Knowles

Listed law firm DWF is scaling back its international operations with the closure of three offices in Australia.

The operations in Melbourne, Sydney and Newcastle will shut and will see around 100 people including 14 partners lose their jobs.

The Brisbane office and the group’s Connected Services operations in Sydney, Melbourne and Brisbane will be retained.

Sir Nigel Knowles, CEO, said: “It is never easy making decisions like this, but rationalising our Australian operations is about focusing our investment resources on areas aligned to Group strategy and priority sectors and clients, something that we have done very successfully in Dubai and elsewhere. I am confident that we will continue to grow our global operations in the future.”

The new follows closures last year of its offices in Brussels and Singapore.

Heejae Chae

Shareholders at Greater Manchester-headquartered healthcare and industrial specialist Scapa Group have agreed a cash offer valuing the company at £412m.

US engineering specialist Schweitzer-Mauduit International Inc (SWM) said it had reached agreement to buy Scapa Group after increasing the share offer to 215p per share.

The offer was increased from 210p per share after some shareholder backlash.

Last month independent investment firm Blackmoor Investment Partners urged the board to rethink their support for the takeover, claiming it was not the only investor keen to see a better return for their holdings.

The acquisition is expected to be completed in the second quarter of this year, said the Ashton-under-Lyne group.

Lookers Preston

Lookers has appointed Paul Van der Burgh to the board as a non-executive director.

Paul is known in the global automotive industry, having held senior executive positions at  multinational brands around the world for over 35 years.

He spent 15 years at Toyota and Lexus, most recently as the president and managing director of Toyota (GB).

Prior to this, Paul held a variety of roles at Ford in the UK and the Americas. Paul has also been an executive director of the Society of Motor Manufacturers & Traders.

Paul Van der Burgh said:  “Having spent most of my career with major global manufacturing brands, I really appreciate the importance of a strong, well located dealership network. I am also well aware of the changing dynamics in the market, not least through electrification and digitisation, where Lookers can further enhance its proposition and prosper in the current environment.”

 

 

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