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April 9, 2008

An advisory firm has launched a service that it claims is a world first for UHNW global families.

An advisory firm has launched a service that it claims is a world first for UHNW global families. US-based Lowenhaupt Global Advisors has unveiled a nine-member Global Council comprised of professionals who have extensive experience advising families of substantial wealth and are recognised as being among the most respected advisors in the US, Europe, Asia and Australia.

April 8, 2008

A joint venture led by two next generation members of Australia’s most powerful families has ended after only two months.

A joint venture led by two next generation members of Australia's most powerful families has ended after only two months. Lachlan Murdoch, son of News Corp chief Rupert, has written to Consolidated Media Holdings stating that the deal he was pursuing with CMH executive deputy chairman James Packer (pictured) to purchase the firm is off.

The letter from Murdoch stated that they are "not in a position to proceed with the Indicative Proposal due to material changes in the overall transaction terms. Accordingly, the Indicative Proposal has been withdrawn."

April 7, 2008

The Bank of Scotland has taken a minority equity investment in The Miller Group, the UK’s largest privately-owned property business.

The Bank of Scotland has taken a minority equity investment in The Miller Group, the UK's largest privately-owned property business.

The investment is the most significant financial transaction in the group's 74-year history and is a combination of both equity and debt.

March 31, 2008

A family-owned company has become the joint global leader in the wine and spirits industry.

A family-owned company has become the joint global leader in the wine and spirits industry. Through its €5.6 billion acquisition of Absolut vodka owner Vin & Spirit, Pernod Ricard, which is owned by the Ricard family, joined Diageo at the top of the drinks industry.

Absolut is the number one premium vodka in the world and the top selling premium spirits brand in the US. It is seen as a “unique asset” to Pernod Ricard’s drinks portfolio, which includes Glenlivet, Malibu and Jacob’s Creek wine.

March 27, 2008

The largest US radio firm is to sue the world’s top banks for hindering a merger.

The largest US radio firm is to sue the world’s top banks for hindering a merger. Clear Channel Communications, which is run by the founding Mays family, is suing the banks for “tortious interference” with regard to the $26 billion merger between Clear Channel and CC Media Holdings, a unit of investment firms Thomas H Lee Partners, LP and Bain Capital Partners, LLC.

March 27, 2008

An Australian family firm is selling part of its horse training and breeding business to Middle Eastern royalty.

An Australian family firm is selling part of its horse training and breeding business to Middle Eastern royalty. Through his global thoroughbred breeding operation Darley, Sheikh Mohammed bin Rashid Al Maktoum, the ruler of Dubai, has purchased the Bloodstock operation of Inghams Enterprises for an undisclosed sum. The sale includes all the Bloodstock training stables in southern Australia.

March 26, 2008

Ford Motors has sold two of its luxury car brands to a fellow family-owned company.

Ford Motors has sold two of its luxury car brands to a fellow family-owned company. Tata Motors, part of the Indian-based Tata Group, has bought Land Rover and Jaguar for $2.3 billion.

Ford announced last summer that the brands were being put up for sale and there has been much speculation as to who would be the highest bidder. In January this year Ford confirmed that it had entered into discussions with Tata over a possible sale.

March 25, 2008

A member of Egypt’s wealthiest family is to move his hotel empire from Cairo to Altdorf, Switzerland in a move designed to increase the firm’s growth.

A member of Egypt’s wealthiest family is to move his hotel empire from Cairo to Altdorf, Switzerland in a move designed to increase the firm’s growth. Chairman Samih Sawiris said he plans to relocate Orascom Hotels and Development and list its shares on the Swiss stock exchange.

A new holding company, Orascom Development Holding, will launch a public share exchange offer of one new share for each 10 existing shares as of 30 March. The group said it has already received irrevocable undertakings of acceptance of the swap of around 76%, including from the Sawiris family.

March 19, 2008

A beer company has been named Best UK Family Business for the Greater London region.

A beer company has been named Best UK Family Business for the Greater London region. With an estate of more than 360 pubs across London and the South of England, Fuller Smith & Turner is the brewer of a range of award-winning beers, including London Pride and Vintage Ale. The company will join motor group JCT600 in the national finals which are to be held in June.

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