Bosses will make 800pc profit from QinetiQ sale (Bush1's Carlyle Group)

Bosses will make 800pc profit from QinetiQ sale
TELEGRAPH
By Thomas Harding, Defence Correspondent
(Filed: 13/01/2006)

The Ministry of Defence was accused of allowing institutional investors to make massive profits after yesterday's announcement of the flotation of the country's leading defence research company.

Executives at QinetiQ and its American part owner, Carlyle, will receive an estimated £340 million on an investment of £42 million. That represents an 800 per cent return in less than three years.

Gordon Brown was also accused of "making a quick buck" for the Treasury after the Government announced Labour's first privatisation of a major company.

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Until two years ago the former President George Bush and secretary of state James Baker were advisers to Carlyle and Sir John Major was a consultant. Osama bin Laden's half-brother had a stake in the company but it was bought out after September 11.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2006/01/13/nqinetiq13.xml&sSheet=/portal/2006/01/13/ixportal.html

Just how much will his personal rake off be?



Labour condemned over QinetiQ flotation
Terry Macalister
Friday January 13, 2006
The Guardian
SNIP:

The initial public offering will take place next month if market conditions allow and could net windfalls of up to £24m for the chairman, Sir John Chisholm, and a payout of £500 each for the 9,000 staff.

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Carlyle will also retain a holding after the listing. The investment group has a 31% stake but 51% control of the voting rights, which it bought for just £42m but are now believed to be worth £340m.

http://business.guardian.co.uk/story/0,16781,1685483,00.html

and get out befor Fearless Leader is forced to pull the troops from Iraq and cancel defense contracts.