The UK venture capitalist group said the two sides had been ‘unable to agree on certain contractual matters,’ some of which arose on Thursday. It would not elaborate, while BMW refused to comment until it had prepared a formal statement. The news sent shares in BMW down as much as 8 per cent.
Alchemy had intended to set up the MG Car Company and had announced the appointment of a Deloittes-trained corporate recovery specialist, Graham Hallworth, as finance director, and a former Coopers & Lybrand chief, Brandon Gough, as non-executive chairman.
Jon Moulton, senior partner of Alchemy, is also a chartered accountant who spent most of the eighties working at Coopers & Lybrand.
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
In our latest managing partner Q&A looking towards 2017, CVR Global's Richard Toone talks about recruitment, and the potential threat of competition from the legal sector, as key issues for the firm in the coming year
Deloitte to avoid tendering for government contracts over the next six months, to appease Theresa May following consultant's report that painted a less-than-flattering picture of Brexit plans
In our first Q&A looking towards 2017, Menzies senior partner Julie Adams flags up increasing digitisation, aligned with more hands-on consultative services, as the key mix for her practice