Unstructured Finance

Deals wrap: Doubts grow over BSkyB bid

The British government said it would take the closure of the Rupert Murdoch tabloid, News of the World, into consideration when deciding on the mogul’s bid to buy BSkyB.

Shares in Rupert Murdoch’s bid-target BSkyB slumped as the phone hacking scandal engulfing the media mogul’s empire pushed the controversial deal into uncharted waters .

Private equity firm, Carlyle Group, is in talks to buy Energy Capital Partners, a buyout company focused on power generation, electric transmission, midstream gas and other energy markets, the New York Times said.

A Visteon Corp hedge fund shareholder that will get two board seats soon has been pushing to break up the U.S. auto parts supplier, betting the company has more value in pieces than as a whole, people close to the situation said.

A booming IPO market and the lure of high returns kept China’s private equity sector humming in the first half , stoking fear of asset bubbles amid rising concerns over the quality of listed Chinese companies.

Deals wrap: Ghana oil fields targeted

China’s top offshore oil company CNOOC has made a joint $5 billion bid with Ghana National Petroleum Corp for Kosmos Energy’s assets, a source close to the deal told Reuters. Kosmos is prized for its stake in Jubilee, one of the largest oil discoveries in the world in recent years.

Previously a $4 billion bid by Exxon Mobile for Kosmos failed because it was unable to secure Ghanaian government support. GNPC sources have told Reuters since last year that it had been talking to CNOOC about a possible bid. *View article

FT’s Alphaville blog breaks down the ramifications of Barclays losing its court battle with Lehman Brothers over its purchase of Lehman’s brokerage unit in bankruptcy proceedings in 2008. A loss could cost Barclays as much as $10 billion. *View article

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.

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