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<channel>
	<title>Archive &#187; Douwe Miedema</title>
	<atom:link href="http://blogs.reuters.com/archive/author/douwe.miedema/feed/" rel="self" type="application/rss+xml" />
	<link>http://blogs.reuters.com/archive</link>
	<description>Reuters blog archive</description>
	<pubDate>Fri, 27 Nov 2009 22:50:46 +0000</pubDate>
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			<item>
		<title>DealZone Daily</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17973</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17973#comments</comments>
		<pubDate>Thu, 19 Nov 2009 09:29:43 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[Blackstone]]></category>

		<category><![CDATA[Cazenove]]></category>

		<category><![CDATA[colgate palmolive]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[JP Morgan]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[pinnacle brands]]></category>

		<category><![CDATA[Reckitt Benckiser]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17973</guid>
		<description><![CDATA[Reckitt Benckiser shares rise 2 percent -- so markets are taking notice of the Daily Telegraph's "latest tale" that the UK group could link up with Colgate-Palmolive.]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=RB.L">Reckitt Benckiser</a> shares rise 2 percent -- so markets are taking notice of the Daily Telegraph's <a href="http://www.telegraph.co.uk/finance/markets/marketreport/6600366/Talk-of-Reckitt-doing-a-big-deal.html">"latest tale"</a> that the UK group could link up with <a href="http://www.reuters.com/finance/stocks/overview?symbol=CL.N">Colgate-Palmolive</a>. Benckiser is worth roughly $37 billion in the market, Colgate some $41.2 billion, so a deal would be humongous. And this just in: J.P. Morgan Cazenove will become a fully-owned part of <a href="http://www.reuters.com/finance/stocks/overview?symbol=JPM.N">J.P. Morgan</a>, as the U.S. investment bank buys out its joint-venture partner Cazenove Group.</p>
<p>Finally, <a href="http://www.reuters.com/finance/stocks/overview?symbol=BX.N">Blackstone</a> Group's Pinnacle Brands Corp is <a href="http://www.reuters.com/article/americasMergersNews/idUSBNG49356720091119">likely to buy </a>U.S. frozen vegetable company Birds Eye Foods for more than $1.3 billion, according to the Wall Street Journal.</p>
<p>For the latest deals news from Reuters, <a href="http://www.reuters.com/finance/deals">click here</a>.</p>
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		<item>
		<title>DealZone Daily</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17958</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17958#comments</comments>
		<pubDate>Wed, 18 Nov 2009 12:47:41 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[Apollo Management]]></category>

		<category><![CDATA[bioxell]]></category>

		<category><![CDATA[Cadbury]]></category>

		<category><![CDATA[cosmo pharmaceuticals]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[Hershey]]></category>

		<category><![CDATA[Hyundai]]></category>

		<category><![CDATA[Kraft]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[nippon telegraph]]></category>

		<category><![CDATA[patni computer systems]]></category>

		<category><![CDATA[telephone corp]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17958</guid>
		<description><![CDATA[Sigh of relief for Cadbury? Hershey and Ferrero may join forces to launch a rival bid for Kraft's offer for the British confectioner, a source tells us.]]></description>
			<content:encoded><![CDATA[<p><a id="aptureLink_83qre057IR" style="padding-right: 6px; padding-left: 6px; float: left; padding-bottom: 0px; padding-top: 0px; cssfloat: left;" href="http://static.flickr.com/3214/2965471546_63b6360380.jpg"><img style="border: 0px;" title="Kinder Surprise the wrapper" src="http://static.flickr.com/3214/2965471546_63b6360380.jpg" alt="" width="208" height="249" /></a>Sigh of relief for <a href="http://www.reuters.com/finance/stocks/overview?symbol=CBRY.L">Cadbury</a>? <a href="http://www.reuters.com/finance/stocks/overview?symbol=HSY.N">Hershey</a> and Ferrero may join forces to launch a rival bid for <a href="http://www.reuters.com/finance/stocks/overview?symbol=KFT.N">Kraft</a>'s offer for the British confectioner, <a href="http://www.reuters.com/article/innovationNews/idUSTRE5AG5HH20091117">a source tells us</a>. On a rather much smaller scale, <a href="http://www.reuters.com/finance/stocks/overview?symbol=COPN.S">Cosmo Pharmaceuticals</a> plans to buy rival <a href="http://www.reuters.com/finance/stocks/overview?symbol=BXLN.S">BioXell</a> for around $40 million, <a href="http://www.reuters.com/article/swissMktRpt/idUSLI5841420091118">it says</a>. For these and all other Reuters stories on deals, <a href="http://www.reuters.com/finance/deals">click here</a>.</p>
<p>Plus a look at other media (some links may require subscription):</p>
<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=005380.KS">Hyundai Motor Co</a> is planning to sell off its stake in affiliate <a href="http://www.reuters.com/finance/stocks/overview?symbol=012330.KS">Hyundai Mobis Co </a>in a block trade to comply with antitrust rules, <a href="http://www.reuters.com/article/cyclicalConsumerGoodsSector/idUSSEO28974120091118">according to online media provider eDaily</a>.</p>
<p>Apollo Management, the private equity firm headed by former Drexel Burnham Lambert executive Leon Black, is planning to list on the New York Stock Exchange, <a href="http://www.ft.com/cms/s/0/3198d1ae-d3e3-11de-8caf-00144feabdc0.html">the Financial Times says</a>.</p>
<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=NTT.N">Nippon Telegraph and Telephone Corp </a>has entered the race to buy a majority stake in <a href="http://www.reuters.com/finance/stocks/overview?symbol=PTI.N">Patni Computer Systems</a>, the latest in a string of potential suitors eyeing India's No. 6 software services firm, <a href="http://economictimes.indiatimes.com/infotech/ites/NTT-joins-fray-for-a-byte-in-Patni/articleshow/5241300.cms">the Economic Times says</a>.</p>
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		<title>Dealzone Daily</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17942</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17942#comments</comments>
		<pubDate>Tue, 17 Nov 2009 09:34:35 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[Barclays]]></category>

		<category><![CDATA[Cadbury]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[Erste]]></category>

		<category><![CDATA[ferrero]]></category>

		<category><![CDATA[Kraft]]></category>

		<category><![CDATA[Lehman]]></category>

		<category><![CDATA[ubs]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17942</guid>
		<description><![CDATA[Dealzone Daily, Nov. 17, 2009]]></description>
			<content:encoded><![CDATA[<p><a id="aptureLink_mHl8jBEN6D" style="padding-right: 6px; padding-left: 6px; float: left; padding-bottom: 0px; padding-top: 0px; cssfloat: left;" href="http://www.flickr.com/photos/pdstahl/3897245765/"><img style="border: 0px;" title="Giant Nutella" src="http://static.flickr.com/3164/3897245765_0e495a4197.jpg" alt="" width="291" height="317" /></a>Ferrero -- the maker of Nutella -- might be considering an <a href="http://www.reuters.com/article/rbssFoodProcessing/idUSLH57045320091117">offer</a> for an alliance with <a href="http://www.reuters.com/finance/stocks/overview?symbol=CBRY.L">Cadbury</a>, Il Sole 24 Ore says, saving the British group from <a href="http://www.reuters.com/finance/stocks/overview?symbol=KFT.N">Kraft's</a> clutches. Cadbury shares aren't moving much, which says something about how the market sees the story. Elsewhere, Austria's <a href="http://www.reuters.com/finance/stocks/overview?symbol=ERST.VI">Erste Bank</a> closed its rights issue late on Monday, with demand less than stellar.</p>
<p>The Lehman estate files its long-expected lawsuit against Barclays <a href="http://www.reuters.com/finance/stocks/overview?symbol=BARC.L">Capital</a>, according to court documents. And with UBS's investor day and the Euro Finance Week conference in Frankfurt on elsewhere, all eyes are on Europe's banks again.</p>
<p>For all other Reuters stories about deals, click <a href="http://www.reuters.com/finance/deals">here.</a></p>
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		</item>
		<item>
		<title>Dealzone Daily</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17931</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17931#comments</comments>
		<pubDate>Mon, 16 Nov 2009 12:14:50 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[Canon]]></category>

		<category><![CDATA[Cazenove]]></category>

		<category><![CDATA[cisco]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[jaguar land rover]]></category>

		<category><![CDATA[JP Morgan]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[oce]]></category>

		<category><![CDATA[RUSAL]]></category>

		<category><![CDATA[Tandberg]]></category>

		<category><![CDATA[thyssenkruppo]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17931</guid>
		<description><![CDATA[DealZone Daily, November 16, 2009]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=CSCO.O">Cisco</a> says more than 40 percent of <a href="http://www.reuters.com/finance/stocks/overview?symbol=TADBF.PK">Tandberg</a> shareholders are <a href="http://www.reuters.com/article/businessNews/idUSTRE5AF1TF20091116">backing its bid</a> for the Norwegian group now that Cisco has raised its offer to value the group at $3.4 billion.</p>
<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=CAJ.N">Canon</a> plans <a href="http://www.reuters.com/article/innovationNews/idUSTRE5AF1EO20091116">to buy </a>Dutch copier and printer maker <a href="http://www.reuters.com/finance/stocks/overview?symbol=OCEN.AS">Oce</a> for $1.1 billion. For these, and other merger Monday stories, click <a href="http://www.reuters.com/finance/news/archive/innovationNews?date=today">here</a>.</p>
<p>And here's what we found of interest in other media.</p>
<p>U.S. investment bank <a href="http://www.reuters.com/finance/stocks/overview?symbol=JPM.N">J.P. Morgan</a> will offer 500 to 525 pence per share to buy out the 50 percent stake it does not already own in its UK stockbroker joint venture with Cazenove, according to media reports, such as in the <a href="http://www.ft.com/cms/s/0/62eb840a-d1e9-11de-a0f0-00144feabdc0.html">Financial Times</a>.</p>
<p>UC RUSAL, the world's largest aluminium producer, is <a href="http://www.reuters.com/article/asiaPrivateEquityNews/idUSTRE5AE0B520091115">close to a deal </a>to restructure $7.4 billion in debt to foreign banks which is crucial for the Russian firm's planned $2 billion IPO in December, the Wall Street Journal says.</p>
<p>Jaguar Land Rover is expected to announce today that it has secured a 170 million-pound ($282.5 million) working capital facility from GE Capital, <a href="http://www.reuters.com/article/rbssAutoTruckManufacturers/idUSLG12099820091116">according to the Financial Times</a>.</p>
<p>Germany's largest steelmaker <a href="http://www.reuters.com/finance/stocks/overview?symbol=TKAG.DE">ThyssenKrupp</a> has sold its U.S. scaffolding unit Safway to Odyssey Investment Partners for an undisclosed price, <a href="http://www.reuters.com/article/mergersNews/idUSLF04171320091115">Handelsblatt newspaper reports</a>.</p>
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		<item>
		<title>DealZone Daily</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17478</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17478#comments</comments>
		<pubDate>Fri, 09 Oct 2009 08:44:19 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[citigroup]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[DealZone Daily]]></category>

		<category><![CDATA[FDIC]]></category>

		<category><![CDATA[IPO]]></category>

		<category><![CDATA[M&amp;A]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[proton holdings]]></category>

		<category><![CDATA[rbc]]></category>

		<category><![CDATA[Wynn Macau]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17478</guid>
		<description><![CDATA[DealZone Daily, October 9]]></description>
			<content:encoded><![CDATA[<p>On a quiet day for deals, worth noting that <a href="http://www.reuters.com/finance/stocks/overview?symbol=RY.TO">Royal Bank of Canada</a> joins the growing queue of prospective buyers of a wealth management business. Read the exclusive Reuters story <a href="http://ca.reuters.com/article/businessNews/idCATRE59739Z20091008">here</a>. On a larger scale, <a href="http://www.reuters.com/finance/stocks/overview?symbol=1128.HK">Wynn Macau</a>'s strong debut in <a href="http://www.reuters.com/article/innovationNews/idUSTRE5980R220091009">Hong Kong </a>ups the ante for Europe, where bookbuilding for the IPO of Poland's PGE starts next week. For more deal-related news from Reuters, <a href="http://www.reuters.com/finance/deals">click here</a>.</p>
<p>Elsewhere:</p>
<p>* The U.S. Federal Deposit Insurance Corp is <a href="http://www.reuters.com/article/businessNews/idUSTRE5980MV20091009">questioning</a> the positive conclusions given to <a href="http://www.reuters.com/finance/stocks/overview?symbol=C.N">Citigroup</a> Inc's management team in a government-mandated review in the aftermath of the financial crisis, the Wall Street Journal says.</p>
<p>* A management buyout of Malaysia's national carmaker <a href="http://www.reuters.com/finance/stocks/overview?symbol=PROT.KL">Proton Holdings</a> could be possible, the firm's chairman was <a href="http://www.reuters.com/article/cyclicalConsumerGoodsSector/idUSKLR49634320091009">quoted</a> as saying in the Star newspaper.</p>
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		<item>
		<title>Deals du Jour</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17438</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17438#comments</comments>
		<pubDate>Wed, 07 Oct 2009 07:52:51 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[ahold]]></category>

		<category><![CDATA[citigroup]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[hsbc]]></category>

		<category><![CDATA[ING]]></category>

		<category><![CDATA[julius baer]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[phibro]]></category>

		<category><![CDATA[super de boer]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17438</guid>
		<description><![CDATA[Deals du Jour, October 7.]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=BAER1.VX">Julius Baer</a> will buy <a href="http://www.reuters.com/finance/stocks/overview?symbol=ING.N">ING</a>'s private bank in Switzerland, <a href="http://www.reuters.com/article/euMergersNews/idUSSIN28744820091007">the two have said </a>(Reuters has long been reporting that Baer was the frontrunner to seal the deal).</p>
<p>The battle for Dutch retailer <a href="http://www.reuters.com/finance/stocks/overview?symbol=SDB.AS">Super de Boer </a>heats up, with <a href="http://www.reuters.com/finance/stocks/overview?symbol=AHLN.AS">Ahold</a> now <a href="http://www.reuters.com/article/rbssFoodDistribution%20&amp;%20Convenience%20Stores/idUSL751640120091007">showing interest </a>to buy 30 to 50 of its supermarkets. For these and other stories about deals, <a href="http://www.reuters.com/finance/deals">click here</a>.</p>
<p>And two deal stories in other media:</p>
<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=C.N">Citigroup</a> is working on a sale of its commodities unit Phibro in a move that could raise hundreds of millions of dollars, <a href="http://www.reuters.com/article/americasPrivateEquityNews/idUSTRE59603B20091007">according to the Financial Times</a>.</p>
<p><a href="http://www.reuters.com/stocks/quote?symbol=HSBA.L">HSBC</a> would be forced to delay raising its dividend if new capital rules are applied too heavily or too quickly, <a href="http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6863927.ece">The Times </a>reports the bank's head of investment banking as saying.</p>
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		</item>
		<item>
		<title>Deals du Jour</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17404</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17404#comments</comments>
		<pubDate>Mon, 05 Oct 2009 08:03:40 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[Anglo American]]></category>

		<category><![CDATA[aviva]]></category>

		<category><![CDATA[Barclays Bank]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[ford]]></category>

		<category><![CDATA[Geely]]></category>

		<category><![CDATA[hana financial]]></category>

		<category><![CDATA[IPO]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[RSA]]></category>

		<category><![CDATA[shoprite]]></category>

		<category><![CDATA[Standard Life]]></category>

		<category><![CDATA[taylor wimpey]]></category>

		<category><![CDATA[telenor]]></category>

		<category><![CDATA[Volvo]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17404</guid>
		<description><![CDATA[Deals du Jour, October 5, 2009.]]></description>
			<content:encoded><![CDATA[<p><a id="aptureLink_cn47EarCPY" style="padding-right: 6px; padding-left: 6px; float: left; padding-bottom: 0px; padding-top: 0px; cssfloat: left;" href="http://www.tebodin.com/SiteCollectionImages/Markets/Property/Offices/Delta_Lloyd_gebouw_frontaal.jpg"><img style="border: 0px;" title=" ... &gt; Offices &gt; Delta Lloyd" src="http://www.tebodin.com/SiteCollectionImages/Markets/Property/Offices/Delta_Lloyd_gebouw_frontaal.jpg" alt="" width="290" height="218" /></a>At long last, Europe may see its first sizeable IPO: <a href="http://www.reuters.com/finance/stocks/overview?symbol=AV.L">Aviva</a> says it expects to complete the <a href="http://www.reuters.com/article/rbssInsuranceMultiline/idUSL564145820091005">flotation of its Dutch unit</a>, Delta Lloyd, in November. And shares in <a href="http://www.reuters.com/finance/stocks/overview?symbol=TEL.OL">Telenor</a> jump 15 percent after it <a href="http://www.reuters.com/article/mnaNewsTechMediaTelco/idUSL563781120091005">settles a long-standing row </a>with Russia's Alfa Group. The agreement will involve a pooling of assets between the two companies. For these and other stories on deals, click here.</p>
<p>And here's what we found of interest in other media today and over the weekend.</p>
<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=SHPJ.J">Shoprite Holdings Ltd</a> chairman Christo Wiese is looking to swap some or all of his stake in Africa's biggest grocer for stock in furniture maker Steinhoff, a South African newspaper <a href="http://www.reuters.com/article/rbssRetailApparelAccessories/idUSL454199820091004">reports</a>.</p>
<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=086790.KS">Hana Financial Group</a>, South Korea's No. 4 banking group, is seeking to raise 1 trillion-2 trillion won ($853 million-$1.7 billion) in a rights offering, according to <a href="http://www.reuters.com/article/rbssBanks/idUSSEL00266420091005">media reports</a>.</p>
<p>A U.S.-led consortium has entered the race to buy Volvo from <a href="http://www.reuters.com/finance/stocks/overview?symbol=F.N">Ford</a>, the <a href="http://www.reuters.com/article/businessNews/idUSTRE59401T20091005">Financial Times</a> reports, in a challenge to China's <a href="http://www.reuters.com/finance/stocks/overview?symbol=0175.HK">Geely Automotive</a>, which confirmed its interest in the money-losing Swedish carmaker last month.</p>
<p>Chinese steel and iron ore group Baosteel has proposed to pay 1 billion pounds ($1.6 billion) for a 30 percent stake in <a href="http://www.reuters.com/finance/stocks/overview?symbol=AAL.L">Anglo American's </a> huge Minas Rio iron ore mine in Brazil, <a href="http://www.reuters.com/article/ousivMolt/idUSTRE59319520091004">according to a report</a>.</p>
<p>British housebuilder <a href="http://www.reuters.com/finance/stocks/overview?symbol=TW.L">Taylor Wimpey</a>  is considering the sale of its North American housing operations, which have been hit hard by the global recession, in a bid to cut debt, the <a href="http://www.reuters.com/article/euMergersNews/idUSL454145420091004">Sunday Times </a>reports.</p>
<p><a href="http://www.reuters.com/article/rbssInsuranceLifeHealth/idUSL455893920091004">Barclays Bank Plc</a> is likely to enter exclusive talks this week to buy insurer <a href="http://www.reuters.com/finance/stocks/overview?symbol=SL.L">Standard Life's</a> banking division, the <a href="http://www.reuters.com/article/rbssInsuranceLifeHealth/idUSL455893920091004">Mail on Sunday </a>reports.</p>
<p>British general insurer <a href="http://www.reuters.com/article/rbssInsuranceLifeHealth/idUSL455893920091004">RSA</a> has scrapped plans for a $1 billion rights issue to fund major acquisitions and will instead focus on smaller bolt-on buys, the <a href="http://www.reuters.com/article/rbssInsuranceProperty%20&amp;%20Casualty/idUSL455213020091004">Sunday Telegraph</a> reports.</p>
<p>A Kohlberg Kravis Roberts-led consortium leads the bidding for <a href="http://www.reuters.com/article/mnaNewsTechMediaTelco/idUSN0433693320091005">Northrop Grumman Corp's</a> TASC unit, the <a href="http://www.reuters.com/article/mnaNewsTechMediaTelco/idUSN0433693320091005">Financial Times </a>reports.</p>
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		<title>Deals du Jour</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17250</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17250#comments</comments>
		<pubDate>Mon, 21 Sep 2009 08:11:41 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA["deals du jour"]]></category>

		<category><![CDATA[Cazenove]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[eon]]></category>

		<category><![CDATA[JPMorgan]]></category>

		<category><![CDATA[KBC]]></category>

		<category><![CDATA[martindale]]></category>

		<category><![CDATA[rbs]]></category>

		<category><![CDATA[yingde gases]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17250</guid>
		<description><![CDATA[Deals du Jour, Sept. 21, 2009]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.reuters.com/finance/stocks/overview?symbol=RBS_pf.N">Royal Bank of Scotland</a> is talking to investors to gauge support for a "modest" equity placement of 3 to 4 billion pounds, a source tells us, as it tries to limit government control.  <a href="http://www.reuters.com/finance/stocks/overview?symbol=JPM.N">JPMorgan </a>and Cazenove are thought to be close to agreeing a price for Cazenove's share of their J.P. Morgan Cazenove joint venture before the end of the year, the Independent on Sunday newspaper says.</p>
<p>For these and other Reuters stories on deals, click <a href="http://www.reuters.com/finance/deals">here</a>. And for Monday's stories in other media (some of the links may require subscription):</p>
<p>German power giant E.ON is in advanced talks with potential partners to build new solar power plants in Andalusia, southern Spain, its chief executive tells Spanish daily Expansion.</p>
<p>Chinese industrial gas provider Yingde Gases Group aims to raise up to HK$3.58 billion ($462 million) in a Hong Kong initial public offering later this month, a Hong Kong newspaper reports.</p>
<p>Martindale, the UK's leading maker of methadone, has attracted interest from a number of private equity groups, the <a href="http://www.ft.com/cms/s/823f5830-a60c-11de-8c92-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F823f5830-a60c-11de-8c92-00144feabdc0.html&amp;_i_referer=http%3A%2F%2Fsearch.ft.com%2Fsearch%3FqueryText%3Dmartindale%26ftsearchType%3Dtype_news">Financial Times</a> reports on Sunday.</p>
<p>Belgium's KBC has put its London brokerage and corporate finance house KBC Peel Hunt up for sale, with the bank set for a huge loss, UK newspaper the <a href="http://www.independent.co.uk/news/business/news/kbc-looking-to-sell-peel-hunt-at-knockdown-price-1790293.html">Independent on Sunday</a> said.</p>
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		<title>The Car Business: Self-loathing and Chinese Takeaways</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17148</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17148#comments</comments>
		<pubDate>Fri, 11 Sep 2009 08:30:09 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA[Buick]]></category>

		<category><![CDATA[cars]]></category>

		<category><![CDATA[China]]></category>

		<category><![CDATA[Daimler]]></category>

		<category><![CDATA[deals]]></category>

		<category><![CDATA[General Motors]]></category>

		<category><![CDATA[mergers]]></category>

		<category><![CDATA[opel]]></category>

		<category><![CDATA[Pontiac]]></category>

		<category><![CDATA[porsche]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17148</guid>
		<description><![CDATA[Don't look for automakers if you're trying to sell a car company]]></description>
			<content:encoded><![CDATA[<p><a id="aptureLink_kbXh9DylIw" style="padding-right: 6px; padding-left: 6px; float: left; padding-bottom: 0px; padding-top: 0px; cssfloat: left;" href="http://www.edmunds.com/media/il/features/general/smokey.and.the.bandit/33.smokey.bandit.340.jpg"><img style="border: 0px;" title="33.smokey.bandit.340.jpg" src="http://www.edmunds.com/media/il/features/general/smokey.and.the.bandit/33.smokey.bandit.340.jpg" alt="" width="340" height="300" /></a>Nobody hates cars as much as the car industry does these days. The business is crippling some of its biggest players and behold the dearth of industry names queuing up to buy other automakers.</p>
<p>Opel in Germany <a href="http://www.reuters.com/article/newsOne/idUSTRE5891MF20090910">is being sold </a>yet are <a href="http://www.reuters.com/finance/stocks/overview?symbol=VLKAF.PK">Volkswagen</a>, Porsche, <a href="http://www.reuters.com/finance/stocks/overview?symbol=BAMGF.PK">BMW</a> or <a href="http://www.reuters.com/finance/stocks/overview?symbol=DAI.N">Daimler</a> anywhere to be found? Spot the empty parking lot.</p>
<p>Without the Chinese, auto sector M&amp;A right now is about as exciting as a 1981 Yugo.</p>
<p>Some makers still have money though, so what has everybody racing to get away?</p>
<p>Bad experiences, in part.</p>
<p>The last really big deal where two car companies merged was DaimlerChrysler in 1998. It’s best remembered this way: Spent a lot of dimes, did a lot of crying. Disaster and divorce. </p>
<p>A great article written years after the deal revealed telltale signs of the troubles in store for that marriage when even the order of the name – which should go first – threatened to break up the talks.</p>
<p>But <a href="http://www.reuters.com/finance/deals">good old fashioned sectoral M&amp;A</a> is being thwarted by something more than good old fashioned fear and loathing. It’s self-loathing. The industry’s top names have already gobbled up the companies they wanted – Jaguar, Lamborghini, Bentley.</p>
<p>U.S. and European makers are all out of love partly because their long established businesses at home are not making the big bucks. What they want now is emerging market growth, China preferred.</p>
<p>Just look at the reform plans of General Motors. Keep Buick, kill Pontiac. This was an astounding choice from a U.S. marketing perspective.</p>
<p>Pontiac has trounced Buick in U.S. sales forever. Cool people drive Pontiacs, or at least people who used to be cool. Burt Reynolds drove a Trans-Am in <a href="http://www.allmovie.com/work/smokey-and-the-bandit-45289">Smokey &amp; the Bandit </a>in 1977 and the tyres are still hot.</p>
<p>On the other hand, if you have an uncle who wears white shoes and belt and likes to make out he’s well off but isn’t, he drives a Buick.</p>
<p>He’ll tell you it’s just like a Cadillac. And you’ll ask ‘Then why didn’t you buy a Cadillac?’ He’ll try to avoid saying because he couldn’t afford one. And your mother will ask why can’t the family just get along.</p>
<p>But Buick is GM’s big badge in China, and that’s where it is placing its bets. Why aren’t German carmakers buying German carmakers and Americans U.S. ones? Because they don’t want to be in Germany or the United States, they want to grow abroad.</p>
<p>Don’t be fooled by Fiat. Yes it now has a stake in Chrysler, but it came to the table empty handed. The Obama Administration needed a “front” – an industry buyer to feign deep faith in the future of Chrysler – to make it politically feasible for it to fork over the billions in taxpayer money needed to keep the maker of Dodge trucks on life support.</p>
<p>Fiat boss Sergio Marchionne saw this and stepped forward. He similarly had his eye on European government funding when he put up his hand for Opel. You guys pay and I’ll own it. You have to give the guy credit.</p>
<p>It’s tough under such terms to think of these deals as strategic industrial tie-ups, they’re purely opportunistic. And the Germans at least realised this and thought better of doing a deal.</p>
<p>Fiat, not having sold one of its brand in America since 1983, now returns to a vastly different market from the one it fled from in despair.</p>
<p>If they thought it was tough back then, just wait until they try selling in a market where the Japanese have plants churning out cars and trucks across the country and the South Koreans, a complete non-entity before, now sell about 700,000 cars a year.</p>
<p>European whispering about how Fiat might “introduce” small cars to America misses out the last 35 years of change in the U.S. market.</p>
<p>Which is a good place to turn to the Chinese, who currently are not missing out on anything.</p>
<p>By the time Fiat sells its first car in Ohio, Chinese ships will be docking full of smaller, cheaper rival models that will drive Fiat into the weeds. There’s a chance the Chinese ships could outnumber the Fiats that get bought.</p>
<p>The Chinese have taken years gearing up. They bought the UK’s MG-Rover, want GM’s Hummer SUV maker, and are now eyeing an indirect slice of Saab.</p>
<p>More importantly, they have partnered at home with all the big names – VW, Ford, Daimler, GM, Hyundai – and that has fostered expertise that sets up the next phase of growth – exports of their own brands such as Chery, Geely and Changan.</p>
<p>You may not know these names now, but you will soon. No American knew what a Daewoo or Kia was 10 years ago either. The Chinese will put the wind up the Americans, Europeans, Japanese and South Koreans. India also risks being left behind in its similar yet still nascent dream of dominance in the cheap auto export market.</p>
<p>A good rule of thumb is that any nation that can build nuclear plants, rockets and submarines can export a passable hatchback.</p>
<p>Russia hasn’t, that’s true, but China has one critically important advantage – the ardent desire of Western and Asian firms for a slice of the massive Chinese market.</p>
<p>There’s a quid pro quo there that’s likely to clear the way for more Chinese takeovers and their inevitable export push.</p>
<p>U.S. and European companies want partnerships and a nod for access in China, and in return will tell Washington and Brussels it’s cool with them if Chinese firms come knocking.</p>
<p>China’s makers are about to and the appetite of global automakers for Chinese takeaways is already plain to see.</p>
<p>This post was written by Jason Neely.</p>
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		<title>Deals du Jour</title>
		<link>http://blogs.reuters.com/reuters-dealzone/?p=17069</link>
		<comments>http://blogs.reuters.com/reuters-dealzone/?p=17069#comments</comments>
		<pubDate>Thu, 10 Sep 2009 07:49:10 +0000</pubDate>
		<dc:creator>Douwe Miedema</dc:creator>
		
		<category><![CDATA[DealZone]]></category>

		<category><![CDATA["deals du jour"]]></category>

		<category><![CDATA[Blackstone]]></category>

		<category><![CDATA[kirin]]></category>

		<category><![CDATA[Lion Capital]]></category>

		<category><![CDATA[mergers and acquisitions]]></category>

		<category><![CDATA[national express]]></category>

		<category><![CDATA[suntori]]></category>

		<guid isPermaLink="false">http://blogs.reuters.com/reuters-dealzone/?p=17069</guid>
		<description><![CDATA[Deals du Jour, Sept 10]]></description>
			<content:encoded><![CDATA[<p><a id="aptureLink_UeFPc60tw7" style="padding-right: 6px; padding-left: 6px; float: left; padding-bottom: 0px; padding-top: 0px; cssfloat: left;" href="http://www.flickr.com/photos/cyclonebill/3437100101/"><img style="border: 0px;" title="Orangina" src="http://static.flickr.com/3315/3437100101_e3062fe64d.jpg" alt="" width="340" height="262" /></a>Orangina may change hands as Suntory Holdings is talking to the soft drinks maker's current owners, <a href="http://www.reuters.com/finance/stocks/overview?symbol=BX.N">Blackstone</a> and Lion Capital. Suntory meanwhile is in talks itself to be sold to <a href="http://www.reuters.com/finance/stocks/overview?symbol=KNBWY.PK">Kirin Holdings</a>, its bigger rival.  </p>
<p>And Britain's transport group <a href="http://www.reuters.com/finance/stocks/overview?symbol=NXPGF.PK">National Express</a> is ready to accept the 765 million pound bid offer from private equity house CVC and the Cosmen family, the <a href="http://www.telegraph.co.uk/finance/newsbysector/transport/6164792/National-Express-set-to-accept-765m-CVC-Cosmen-bid.html">Daily Telegraph</a> says.</p>
<p>For these and other Reuters stories on deals, click <a href="http://www.reuters.com/finance/deals">here</a>. Plus top stories in other media (some links may require subscription):</p>
<p>* U.S. private equity firm Blackstone is in talks to buy a 63 percent stake in Indian agro-chemicals and veterinary drugs maker Gharda Chemicals for about 6.3 billion rupees ($130 million), the <a href="http://economictimes.indiatimes.com/articleshow/4992462.cms">Economic Times </a>says.</p>
<p>* Japan's Daiwa Securities Group (<span id="symbol_8601.T_1"><a href="http://www.reuters.com/finance/stocks/overview?symbol=8601.T">8601.T</a></span>) and Sumitomo Mitsui Financial Group (<span id="symbol_8316.T_2"><a href="http://www.reuters.com/finance/stocks/overview?symbol=8316.T">8316.T</a></span>) are set to announce the end of their investment banking joint venture on Thursday, according to the Kyodo news agency.</p>
<p>* British airline bmi, owned by German flag carrier Deutsche Lufthansa (<span id="symbol_LHAG.DE_3"><a href="http://www.reuters.com/finance/stocks/overview?symbol=LHAG.DE">LHAG.DE</a></span>), has so far attracted interest from 12 potential buyers, a <a href="http://www.faz.net/IN/INtemplates/faznet/default.asp?tpl=common/zwischenseite.asp&amp;dx1={70BE3B50-4322-6664-7BCD-C20997B432F7}&amp;rub={CE5E4A7C-4D51-4EF4-9385-D627A87356A9}">German newspaper </a>says.</p>
<p>* Mercedes has agreed to take a 75 percent stake in Formula One leaders Brawn GP within the next three years, German magazine <a href="http://www.auto-motor-und-sport.de/formel-1/formel-1-mercedes-will-75-prozent-von-brawn-gp-1407986.html">Auto, Motor and Sport </a>reports.</p>
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