Unstructured Finance

DealZone Daily

Auto maker General Motors is grappling with the future of its European units Saab and Opel after one sale collapsed and the other was pulled, targeting the bulk of its 9,000 job cuts at Opel’s German factories.

Bookseller Borders UK called in the administrators yesterday, adding its name to a growing list of failed British high street retailers. Administrator MCR is hoping to sell the business, bought by Valco (the private equity arm of turnaround specialist Hilco) in July this year, as a going concern.

Lachlan Murdoch, son of News Corp chief executive Rupert Murdoch, sold some $27.6 million of his shares in his father’s company as he bought 50 percent of Daily Mail & General Trust’s radio operations in Australia.

For the latest deals news from Reuters, click here.

And here’s the top stories from elsewhere (some external links may require subscription):

Concerns over Dubai World’s debt dominated the news as stocks around the world tumbled and markets struggled to get to grips with the extent of the problem in the absence of solid information, says the Financial Times.

Dealzone Daily

Bookseller Borders UK has stopped taking online orders and is on the brink of falling into administration if a buyer for the business is not found, the FT reports.

For the latest deals news from Reuters, click here.

And here’s the top stories from the newspapers (some external links may require subscription):

Private equity firm Endless and convenience store chain Costcutter have ruled themselves out of the race to acquire chunks of the Threshers off-licence empire, owned by First Quench Retailing, the Independent says, leaving rival retailers Bargain Booze, EFB Retail and Rhythm & Booze still in the chase.

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