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Deal International: News on IKB, EMI, Northern Rock and more

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Published January 18, 2008 at 10:58 AM
Stay tuned to TheDeal.com for updates on these stories and more.

IKB Deutsche Industriebank AG
Topping headlines this morning, Europe's first major victim of the subprime meltdown goes up for sale as Merrill Lynch & Co. is enlisted to sell German government-owned reconstruction bank Kreditanstalt für Wiederaufbau's IKB Deutsche Industriebank AG less than six months after a state bailout. 

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EMI Group plc-Chrysalis
Meanwhile, as he slashes jobs and clashes with pop stars at recently acquired music group EMI, Terra Firma Capital Partners' Guy Hands is also vying to add independent label Chrysalis.

Northern Rock plc
And the consortium led by Virgin Group bidding for Northern Rock plc lines up two new senior executives to help run the bank. Earlier this week, the government assembled "Team Rock" should the government take control of the stricken lender.

Metro AG-Extra
More supermarket news also comes out of Europe this morning. Metro is selling its 245-strong Extra supermarkets, with sales of $2.4 billion, to German supermarket operator Rewe Group. On Thursday, auctions of both the U.K.'s Somerfield Stores Ltd. and Turkey's Migros Türk T.A.S. made headlines.

BAE Systems plc-Tenix Ltd.
Also on the M&A front, British aerospace group BAE Systems plc will pay up to $680 million for the military technology business of Tenix Ltd., a privately held Australian conglomerate.

Telefónica SA-China Netcom
Telefónica SA says it will spend $453 million on another 2.2% stake in China Netcom.

Independent News & Media plc
Independent News & Media plc agrees to pay $127 million in shares for the outstanding 50% in a South African outdoor advertising company.

MFS Ltd.-City Pacific Ltd.
Australian fund manager MFS, is in talks about merging its financial services business with City Pacific, says it will split its funds business from its travel division.

CapMan plc's RE fund
In real estate news, CapMan plc of Finland launches $1.2 billion hotel real estate fund and acquires 39 properties.

Citic Capital Holdings
And finally, China's Citic Capital Holdings announces a third real estate fund worth $280 million.

Go to TheDeal.com story on IKB
Go to earlier story on TheDeal.com on Northern Rock
Go to earlier item on TheDeal.com on MFS-City Pacific



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