Sometimes my penchant for the obscure pays off. A couple of weeks ago, I made a passing reference in this column to a potential transaction at Universal Partners (UP), a small investment company with a handful of unlisted offshore holdings.

UP had disclosed interest from automotive giant Mercedes-Benz in its 22% stake in electric motor maker Yasa, which I pointed out had cost the group £14.3m in August 2017 and which held a last stated value of about £22m...

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