revision preference src: With the outbreak of World War I, the British government confiscated German equities and handed them over to an English financial group led by Owen Philipps, chairman of the Union-Castle Line, which conducted several businesses in Portuguese East Africa, but which found the concession to be more of a liability. <SEP> tgt: With the outbreak of World War I, the British government confiscated German equities and handed them over to an English financial group led by Owen Philipps, chairman of the Union-Castle Line, which did much business in Portuguese East Africa, but which found the concession to be more of a liability.