DealZone Daily

February 12, 2010

British fashion retailer New Look scrapped its planned flotation. Blackstone dramatically pulled two IPOs this week, blaming weak markets. There has been a string of scrapped IPOs across Europe, involving Belgian, British and German companies.

Motorola wants to split into two companies in the first quarter of next year, one to focus on cellphones and TV set-top boxes, the other on enterprise networking. The plan should give it more focus in the two markets.

Camargo Correa buys an additional 6.5 percent of shares in Portuguese cement-maker Cimpor. It already had a 22 percent stake.  In Portugal, a company must make a takeover bid if it holds 33 percent or more in another company.

And this is what competitors are reporting:

Related Cos’ real estate developer Stephen Ross and partners have raised about $1.1 billion to help buy a failed bank, Bloomberg reports.

Belgian specialty metals and materials group Umicore is interested in acquiring the catalyst unit of Germany’s Sued-Chemie, Belgian business daily De Tijd says.

KT Corp, South Korea’s dominant fixed-line operator and No. 2 mobile carrier, agreed to buy a 14.85 percent stake in BC Card for about 100 billion won ($86.79 million), a story in the Korea Economic Daily says.

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