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BUSINESS LIVE: LV set for Jersey HQ under private equity owner

BUSINESS LIVE: LV set for Jersey HQ under private equity owner; Apple sues Israeli spyware firm; Ex-M&S boss to chair Asda

Insurer LV will be owned by a firm based in an offshore tax haven if private equity sharks secure a £530million takeover next month.

US buyout firm Bain Capital, which is based in Boston, has registered a shell company in Jersey to carry out the acquisition.

Tech giant Apple is suing Israel’s NSO Group as it seeks to block the ‘hacker-for-hire’ spyware company from breaking into products such as the iPhone.

Apple said NSO’s software, called Pegasus, was used to attack a small number of its customers worldwide.

Former Marks & Spencer boss Stuart Rose has been appointed chairman of Asda by the billionaire Issa brothers.

The 72-year-old will be joined in the supermarket chain’s boardroom by former Land Securities chairman Dame Alison Carnwath, 68, who becomes a non-executive director.

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St. Helier, Jersey: Bain Capital has set up a shell company in the tax haven ahead of its proposed acquisition of LV