Done deals
The executive directors of Close Ventures, which manages seven venture capital trusts (VCTs), have acquired the business from parent group Close Brothers. Albion Ventures, as it is now called, has £250 million under management and is one of the top three managers of VCTs by funds raised.

Anheuser-Busch InBev, the world’s largest brewer, has sold most of its stake in Tsingtao Breweries of China to Japan’s Asahi Breweries, in a $667 million (£478 million) deal. Under the terms of the deal, Asahi Breweries will take a 19.9 percent stake in Tsingtao, while ABInBev will hold on to seven per cent.

Myhomemove, the largest independent provider of conveyancing services in England and Wales, has raised a further £3.25 million from Smedvig Capital. The proceeds of the fundraising will be used for working capital and to allow the management to seek out strategic acquisitions.

Discover Travel and Tours has bought Darlington-based Bedsearcher, a web-based hotel booking service, out of administration. Worcester-based Discover Travel has taken over Bedsearcher’s assets including its website.

Sheffield manufacturer Tempered Spring Company has been bought by Andrew Eyre and Andrew England, both shareholders in Opportunity Group Holdings, for an undisclosed sum.

Deals in the Pipeline
Alcatel-Lucent company Genesys Telecommunications Laboratories has announced the acquisition of Software Development Engineering GmbH. The terms of the deal have not been disclosed.

It is understood that former Norwich Union – soon to be named Aviva – boss Patrick Snowball and private equity groups BC Partners and Apollo have made an informal offer for Royal Bank of Scotland’s insurance assets, which include Direct Line, Churchill and NIG.

RoadChef, one of Britain’s largest motorway services groups, could be sold by its Israeli owner after it reportedly hired advisers to find an outside investor for the business.