DealZone

Deals du Jour

July 9, 2009

Despite the sluggish performance of the stock markets recently, there is no shortage of deals to report.

Some corporate finance stories in the newspapers include:

* AIG (AIG.N) has resumed talks to sell its American Life Insurance Co unit to MetLife Inc (MET.N) in a deal that could help the stricken insurer raise more than $15 billion, according to the Financial Times.

* Datang Telecom (600198.SS) is in talks to sell a 20 percent stake to China’s national pension fund worth as much as 3 billion yuan ($428.6 million), China Daily reported.

* CIT Group (CIT.N), the U.S. commercial lender struggling to finance its business, is pressing U.S. regulators to allow it to issue government-backed bonds to allay concerns over its financial health, the Financial Times said.

* Xstrata’s proposed 40 billion-pound merger with Anglo American has effectively collapsed after Anglo’s shareholders rejected the approach, The Times reported.

* Metalloinvest, the Russian iron and steel firm founded by tycoon Alisher Usmanov, has agreed a four- to five-year extension with some creditors on repayment of $2.2 billion in debt, Vedomosti business daily reported.

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