Umbrella firm bids for Radley

THE owner of umbrella maker Totes Isotoner, MidOcean Partners, has entered the bidding for upmarket handbag maker Radley, which is being sold for up to £150m.

The deadline for initial offers for the accessories company was on Friday. MidOcean, a transatlantic buyout firm, is one of several parties to have submitted offers before the deadline.

Exponent Private Equity, owner of the Trainline ticketing company, and Bridgepoint Capital, which counts Faith shoe shops among its investments, are also bidding.

Others thought to be interested include the buyout firms HG Capital and Barclays Private Equity. Radley’s current owner, Phoenix Equity Partners, has hired Price Waterhouse Coopers to handle the sale.

Shipping group set for AIM

A GREEK shipping company run by a cousin of Greece’s prime minister is expected to float in London. Hellenic Carriers, whose chief executive is Fotini Karamanlis, cousin of Costas Karamanlis, plans to raise about $60m (£28.6m) from a listing on AIM. Hellenic operates a fleet of dry bulk ships that carry iron ore, coal, grain and other cargo, and plans to use the money raised to expand its fleet. It is being advised on the deal by Jeffries International, the investment bank.

Green business drive

UP TO £150 billion worth of business could be available to small businesses aware of big companies’ demand for green suppliers, according to research from Base, a new environmental business forum.

Base, chaired by former government adviser Tom Burke, has been set up to provide information to businesses on how to capitalise on green business opportunities.

“Large companies and public-sector bodies have already started to demand environmentally sustainable practices from their suppliers,” said Burke.

Guardian’s Incisive move

THE Guardian Media Group is expected to take a minority stake in Incisive Media, owner of Legal Week and Accountancy Age, if its joint £1.2 billion bid with the private-equity firm Apax for Emap’s business division succeeds.

Rather than carving up the division, Apax intends to combine it with its own publishing operation, Incisive, with GMG investing in the enlarged group.

Bidders may be put off by Emap’s plan to bundle the group’s residual liabilities, including £14m of headquarters costs, into its business arm, which owns titles such as Broadcast and the Cannes Lions advertising festival.

Times Recommends

• Lies and cover-up at MG Rover exposed by report
• High oil prices push manufacturing costs up
• Primark founder steps down as chief executive