Deals du Jour

May 28, 2009

Opel remains the biggest story of the day. Marathon talks to shield it from a looming bankruptcy ended with no results, a deal is now expected by Friday. In another bankruptcy-related story, Nortel Networks is looking for a buyer for its majority stake in a South Korean joint venture with LG Electronics. For today’s top headlines on deals, click here.

This is what we found of interest in the newspapers:

* Fortress Investment Group, a listed private equity and hedge fund company, is nearing an agreement to inject $800 million in fresh capital into First Southern, a Florida bank, with other investors, the Financial Times said.

* Eircom Holdings has started detailed discussions with three potential bidders to sell its 57 percent stake in Eircom, the former Irish state-owned telecoms company, the Financial Times said.

* Citigroup Inc is in early negotiations with the U.S. Securities and Exchange Commission (SEC) to settle a probe into whether it misled investors by not properly disclosing its  troubled mortgage assets, the Wall Street Journal said.  Read a Reuters story here.

* Reinsurer Swiss Re is in talks with India’s Religare Enterprises to form a joint venture health insurance company in India, the Economic Times said on Thursday. Reuters story here.

* Investment bank Morgan Stanley has presented a recapitalisation proposal to Australian miner OZ Minerals Ltd, giving it an alternative to its planned takeover by China’s Minmetals, the Australian Financial Review said on Thursday. Read a Reuters story here.

Post Your Comment

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see