Deals du Jour

August 3, 2009

Australia and New Zealand Banking Group Ltd will likely clinch a deal this week to buy some Asian assets from British lender Royal Bank of Scotland Group for about $775 million, a source briefed on the situation told Reuters, marking it the Australian bank’s biggest overseas purchase.

In other M&A related stories reported by other media on Monday:

British-based, US-listed cable operator Virgin Media is considering a secondary listing of its shares in London to attract UK-based investors, according to a report in the Times newspaper. Virgin will make an announcement about its decision at its second-quarter results this month, the report said.

The biggest private equity groups are sitting on $400 billion of debt that needs to be repaid over the next five years, putting the future of some of the largest buyouts in doubt, the Financial Times said, citing data from S&P LCD.

Yahoo Inc, which last week announced a Web search deal with Microsoft Corp , will invest money from reduced marketing and infrastructure costs into its display ad, content and mobile services technology, its chief executive Carol Bartz told the New York Times in an interview.

Andrew Hall, the trader behind Phibro LLC, the energy trading arm of beleaguered bank Citigroup Inc, is pushing for a “quiet divorce” from his parent company and has had preliminary talks with one potential suitor, the New York Times said.

Private equity firm Candover is considering plans to inject fresh funds to support its investment in DX Group, a UK postal services company it bought two years ago for 347 million pounds, the Financial Times reported.

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