Sunday, July 21, 2013

Know Your Enemy

"It’s hard to conceive of a worse outcome for a sale of this particularly sensitive national health asset than a private equity company with none of the safeguards in terms of governance of a publicly quoted company and being answerable to shareholders. Private equity has a useful function, as I saw in years past on the advisory board of Terra Firma, but Bain Capital should not have been chosen for this sale. Is there no limit to what and how this coalition government will privatise?"

Lord Owen reacts to the news that the state-owned plasma supplier Plasma Resources UK has been flogged to Bain Capital, a private equity firm in the US. Talk about blood money...

(Thanks to Adam for the link.)

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