| La Tasca at centre of bidding war
Spanish theme bar and restaurant group La Tasca, which earlier this week was considering a £96 million cash offer from the Tragus Group, is now reeling from a surprising new offer. A bid vehicle called TFT, which consists of Iranian entrepreneur Robert Tchenguiz and Icelandic bank Kaupthing, has trumped Tragus' offer with an £98.6 million bid. The new bid would see La Tasca shareholders receive 188p in cash per share, up from the 185p per share offer from Tragus. AIM-listed La Tasca, which has its headquarters in Greater Manchester, has said it is considering its position. However, Tragus has declined to comment. La Tasca chief executive James Horler told the Manchester Evening News: "This changes things a little. We'll obviously sit down and have a look at the new bid. It shows the appetite for the business and our sector.
TCGL invites global bids for sale of properties
Ahmedabad, April 11: In order to provide a thrust to the tourism industry in the State, the Tourism Corporation of Gujarat Ltd (TCGL) has invited global bids from Indian companies, overseas corporate bodies and eligible foreign companies for sale of its properties located in prime tourist locations in Gujarat. This follows the steps taken by the State Government to improve the tourism industry in the state. These measures include setting up of Gujarat Tourism Council headed by the Chief Minister, declaration of Hotel Investment Incentive Scheme, introduction of Heritage Hotels Policy, Eco Tourism Policy and Medical Tourism Policy, reduction in Entertainment Tax from 55 per cent to 25 re cent, reduction and restructuring of luxury tax and reduction of Value Added Tax on F&B from 12.50 per cent to 4 per cent.
Plans to revamp UM field in limbo
OXFORD Ole Miss' plans to expand Oxford-University Stadium have been thrown a curveball after athletic director Pete Boone learned last week the project will cost roughly $6 million more than anticipated. Ole Miss received bids from construction companies interested in renovating and expanding the baseball stadium. Instead of the $10 to $12 million estimated, construction firms placed bids in the range of $18 million. "We thought we were on the high side at $12 million," Boone said Sunday. "That's a big difference. ... I guess surprise would probably be the right word." The discovery comes weeks after Ole Miss announced its stadium expansion plans, which are scheduled to be completed in time for the 2008 season. Ole Miss - along with Jackson-based architects Cooke Douglass Farr Lemons - unveiled plans that would include 880 club-level seats located between first and third base.
CGI award protested by rival
A CAD 400m ($354m) Canadian public sector outsourcing contract that has reportedly been awarded to CGI Group is under fire from the incumbent contractor that lost out in the most recent round of bidding. Ottawa-based TPG Technology Consulting is calling for a public inquiry into Public Works and Government Services Canada's decision to give the contract to CGI, Canada's top services provider. TPG alleges that Public Works changed the proposal evaluation process to favor large firms, and that CGI's ties to the agency may have had something to do with the award. .
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