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Oligarch Ties Said to Nix Banknote Deal on Bank Concerns

Pamplona Capital Management LLP dropped plans to buy Innovia Films Ltd., which supplies materials for banknotes, as the buyout firm’s ties to a Russian billionaire raised concerns from the Bank of England and Bank of Canada, people with knowledge of the matter said.

Arle Capital Partners entered into exclusive talks with Pamplona, which is backed by Mikhail Fridman, about the sale of Innovia for about 500 million euros ($641 million) in November last year, said two people, who asked not to be identified because the talks were private.