City & Corporate: The Week in City & Corporate

Pelham to advise on Chinese energy takeover, Penrose surveys pensions industry.

Pelham PR has been brought in by Chinese state-owned Sinochem Corporation for its proposed £532m takeover of UK-listed Emerald Energy. Emerald, the oil and gas exploration firm, has significant interests in Syria and Columbia and the tie-up will enable Sinochem to strengthen its position in the Middle East and South America. The Sinochem account is being led by Pelham chief executive James Henderson.

Penrose Financial has surveyed more than 150 senior figures in the pensions and investment industries. It found more than one in three feared the role of traditional investment consultants would come under threat as investors lost faith in consultants and demanded more flexible solutions. Almost 60 per cent of respondents said fiduciary management would challenge the existing pension fund management model in the UK, although a third said pension funds would still value the advice of consultants. Also, nearly half (47 per cent) felt tougher regulation would drastically cut the number of hedge funds, but most respondents felt the industry would survive, albeit with fewer stronger funds around.

Anagenesis Trees Corporation has handed a brief to the Bell Pottinger Group to assist with a variety of comms services, including stakeholder engagement, media relations and branding and corporate comms. Anagenesis is an emerging bio-energy company looking to create ground-breaking green energy solutions, which will bridge the gap between huge global demand and the current absence of a credible sustainable supply. Bell Pottinger and Anagenesis will first embark on a comprehensive planning and preparation phase, in order to lay the foundations for a successful comms campaign beginning in October.

Hogarth Partnership advised retained client Northgate, the largest light commercial vehicle rental business in the UK and Spain by fleet size, on its recent rights issue and placing. Northgate raised £114.4m through a £30m placing and £84.4m rights issue. The rights issue was 97.5 per cent subscribed and its joint brokers successfully procured subscribers for the remaining 2.5 per cent.

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