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September 01, 2015 2:17 PM ET

Industrial Conglomerates

Company Overview of Virgin Group Ltd.

Company Overview

Virgin Group Ltd., through its subsidiaries, engages in the businesses of mobile telephony, travel, financial services, leisure, music, holidays, and health and wellness in the United Kingdom and internationally. Its mobile telephony business includes IP-VPN, Wi-Fi, phones, phone plans, mobile broadband, TV phone, broadband services, and SIM cards. The company’s travel business comprises airlines, leisure and travel Websites, travel booking services, travel information, flying clubs, commercial spaceline services, holiday services, hotel services, holiday cruise services, hotels, private islands, mountain retreats, game reserves, catamarans, lodges, tented camps, vineyards, restaurants, priv...

The Battleship Building

179 Harrow Road

London,  W2 6NB

United Kingdom

Founded in 1970

Phone:

44 20 7313 2000

Key Executives for Virgin Group Ltd.

Chief Executive Officer
Founder, President and Director
Age: 65
Chief Financial Officer and Partner
Chief Executive of Virgin Blue
Age: 51
Chief Executive Officer of Virgin Produced
Compensation as of Fiscal Year 2015.

Virgin Group Ltd. Key Developments

Virgin Group Faces Lawsuit for $300 Million in Dispute over Cruise Line

The former Chief Executive Officer of Norwegian Cruise Line is suing British billionaire Richard Branson and his Virgin Group, claiming that Virgin essentially stole his ideas and business plans to enter the luxury cruise industry. The lawsuit was filed in Miami federal court on behalf of Colin Veitch and his VSM Development Company. It seeks more than $300 million in damages and asks a judge to stop London-based Virgin from going forward with its recently announced Miami-based cruise line. The lawsuit contends Virgin reneged on a May 2011 agreement with Veitch over how estimated profits would be split. Veitch would get nothing if the 4,200-passenger "ultra" ships were not profitable but could earn $315 million if projections were met.

Virgin Group Forms Joint Venture with Qualcomm

Virgin Group Ltd. has formed a joint venture (JV) with Qualcomm Incorporated to build, launch and operate the satellite constellation aimed at providing Internet access and telephony to some of the world's currently unconnected parts. The JV will be called as OneWeb.

Virgin Reportedly Seeks Financing

Virgin Group Ltd. has asked banks to pitch to offer about £300 million in financing as it prepares to take some of its companies public, said two people with knowledge of the matter. Virgin Group plans to raise £150 million from an equity financing and the remainder via a collateral loan, secured against stakes in companies that could join the stock market in the next year, the people said, asking not to be named as the details aren’t public. No final decision has been taken, they said. Virgin plans to hold initial public offerings for businesses including gym chain Virgin Active Ltd. and lender Virgin Money Plc, the people said. According to Bloomberg, a spokeswoman for Virgin wasn’t available to comment.

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Recent Private Companies Transactions

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Private Placement
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