Deals du Jour

July 1, 2009

Japan’s Shinsei Bank (8303.T) and Aozora Bank (8304.T) say they plan to merge at a ratio of one to one — creating a bank with combined assets of $186 billion. Morgan Stanley (MS.N) and Japan’s Mitsubishi UFJ Financial Group (8306.T) have agreed to pool their lending resources. And China approves its first major IPO in almost a year, giving Sichuan Express Co approval to float. For these and other Reuters deal stories, click here.

And here’s our press digest on things deals-related.

Citigroup Inc (C.N) is in final talks to sell its Japanese trust bank, NikkoCiti Trust & Banking Corp, to a Nomura Holdings Inc (8604.T) subsidiary for an estimated $210 million, the Nikkei business daily says.

India’s United Spirits (UNSP.BO) has received term sheets from Blackstone (BLK.N), KKR and Capital International interested in buying a stake worth $250-300 million in the company, the Economic Times says.

British retailer Tesco (TSCO.L) is a potential bidder for nationalised bank Northern Rock, UK newspaper the Times reports.

Bank of America Corp’s (BAC.N) primary investment management unit is drawing lower than expected bids after likely suitor Blackrock’s (BLK.N) acquisition of Barclays Global Investor (BARC.L), the Financial Times says.

Shinsei Bank (8303.T) and Aozora Bank (8304.T) are likely to seek an injection of public funds to shore up their capital as the two loss-making lenders merge their businesses, the Nikkei business daily says.

Patrick Degorce is planning to launch his own fund after splitting from high-profile hedge-fund manager Christopher Hohn, hoping to raise as much as $1 billion over time, the Wall Street

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