Deal International: News on WestLB, CIC-JC Flowers and more

Stay tuned to TheDeal.com and Deal International for updates to these stories and more.

WestLB AG
Topping headlines out of Europe this morning, Germany's subprime-battered lender WestLB says its owners agreed to a $7.2 billion bailout.

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Electricite de France SA-Actividades de Construccion y Servicios SA-Iberdrola SA
And on the heels of ACS' disclosure, French utility EdF confirms it's contacted the Spanish building group regarding a possible move on $73 billion utility Iberdrola, but says talks are just exploratory.

Xstrata plc-Resource Pacific Holdings Ltd.
Meanwhile, Swiss miner Xstrata raises its bid for Resource Pacific by 21% to $966 million and gets denied again.

China Investment Corp.-JC Flowers & Co. LLC
On the rumor front, China Investment Corp. reportedly plans to plough $4 billion into a fund with JC Flowers targeting troubled financial institutions.

Montagu Private Equity LLP-Global Infrastructure Partners-Biffa plc
In private equity news, Montagu Private Equity and GE-backed Global Infrastructure Partners agree to pay $3.1 billion for Biffa, but the shares shoot above the offer level as the waste-management group says rival bidders, reportedly including Terra Firma, remain interested.

Accor SA-Compass Group plc
Accor sells its Brazilian food services unit to Compass for $169 million.

Industri Kapital-Etanco
Sweden's Industri Kapital agrees to buy Etanco, a French maker of fasteners used for construction.

Iona Technologies plc
And AIM-listed Iona Technologies says it's received a preliminary bid.

- The editors

See TheDeal.com story on EdF
See TheDeal.com story on Biffa
See earlier story on TheDeal.com on Xstrata-Resource

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