Deals du Jour

July 6, 2009

Putting together new companies out of parts of old is a challenging task for dealmakers, particularly when the businesses concerned employ large numbers of workers.

The future shape of Germany’s auto industry remains uncertain, following the slow-mo breakdown of General Motors (GM.N) and the collapse of Porsche’s (PSHG_p.DE) bid to take over Volkswagen (VOWG.DE). Over the weekend the list of bidders for Porsche’s stake in Volkswagen grew, while a German newspaper on Monday reported the country’s economy minister saying the outcome of the bidding war for Opel was still up in air. For all the latest deals news from Reuters, click here.

Elsewhere, newspapers name a pair of European companies looking to offload businesses to support their financial position.

French water and environmental services company Veolia Environnement (VE.N) has puts its UK water arm up for sale to raise money to reduce its debt, the Sunday Times reported.

Meanwhile, India’s Oil and Natural Gas Corporation (ONGCF.PK) may join a number of Russian companies looking at buying a stake of at least 20 percent in Repsol’s (REP.N) Argentine unit YPF, Spanish business newspaper La Gaceta reported on Monday.

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