Britain: Deal Reached on S.I.V. Sale
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An agreement has been reached on the sale of Cheyne Finance, a structured investment vehicle now known as S.I.V. Portfolio, to bidders including Goldman Sachs, the fundâs receivers, Deloitte & Touche said. The $7 billion S.I.V. Portfolio, managed by the hedge fund Cheyne Capital Management, went into receivership in September. The agreement comes after talks with a number of bidders over the last few weeks and consultation with the informal creditorsâ committees, Deloitte said. Under the deal, certain reinvestment opportunities will be offered to some existing creditors of the company. S.I.V.âs, held by banks, hedge funds or other institutions, issue a mixture of short-term debt and capital and buy longer-term assets, which may pay more interest than the amount they pay on their notes. The vehicles encountered trouble in August when liquidity in the credit markets dried up as investors faced exposure to the subprime market.
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The EU reached a settlement today of its long-running antitrust case against Coca-Cola under which the worldâs biggest soft drinks company agreed to change sales practices that helped it win roughly half of the market in Europe.
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Two of the UK's largest life insurers, Friends Provident and Resolution, agree to merge in a deal worth Â£8bn.
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India&#39;s one-day series against South Africa to be played in Britain and Ireland next month will go ahead after the Indian Cricket Board signed a fresh television deal on Thursday.
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Holidays-to-insurance company Saga has been sold in a Â£1.35bn ($2.43bn) management buyout deal backed by private equity firm Charterhouse.
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Coca-Cola agreed to a range of  concessions on Tuesday that the European Commission said would  be enough to wrap up a five-year antitrust case against the  world's largest soft drinks maker.
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London, Feb 5 (UNI) Britain and India have signed the UK-India Financial Dialogue here.
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A "reasonable settlement" is reached in the annual European Union fisheries talks, says a UK minister.
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The London Stock Exchange confirmed Saturday it is buying Borsa Italiana for 1.6 billion euros (2.15 billion dollars), bolstering the LSE amid takeovers of European stock markets by US rivals.
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BRUSSELS  - The European Union has cleared Banco Santander Central Hispano SA's acquisition of British rival Abbey National PLC.
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Life insurer Resolution, which is hoping to merge with peer Friends Provident, said Thursday that it has received an informal takeover bid from rival Standard Life worth about 5.0 billion pounds.
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The London Stock Exchange (LSE) confirms it is buying its Italian equivalent, Milan's Borsa Italiana, for more than 1.5bn euros.
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Cable and Wireless, the British telecoms group, said it had agreed to sell its Japanese unit to Internet service provider Softbank Corp for about 133 million dollars (104 million euros) including debt.
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The LSE's plans to buy Milan's Borsa Italiana are successfully moving forward, the BBC learns.
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Spanish toll road group Abertis agreed to buy British airports operator TBI for GBPÂ£551.3 million (USD$1 billion) in cash on Wednesday, giving it ownership of a key London airport.
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ALITALIA bosses and unions along with the government today announced their agreement on a deal to salvage the troubled Italian flag-carrier.
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Customers in Great Britain will now pay the same for music downloads as those in the European Union after Apple agrees to bring the prices into alignment.