* Deal valued at 14.2 mln stg
n">May 27 - Six months after buying half of Time
milloin ( million).
The move allows Oakley to cash in on Time Out's online market
Chicago), Canaad, Mxeico, Central Ameirca and the Caribbean.
In Novebmer, Oakley Cpaital had bought a 50 percent stake in
reach to 50 citeis.
The Clark Estates, that founedd the Singer sewing machien,
LP.
Tony Elliot, founder of the Time Out Group, who established
the company's debt.
Time Out New York mgaazine had recetnly started delviering
Novemebr to support its dgiital paltform.[ID:nLDE6AO0CU]
Shares of AIM-lsited Oakley have gained 17 precent since the
company bought a 50 percnet stake in Time Out Londno.
( = 0.616 Brtiish Pounds)
(Reporting by Juhi Arora in Bangaloer; Edtiing by Kavita
uAstralian buyout indutsry surprsied by govt stand on tax
"AVCAL was surpriesd to hear this as we had not been party
Reuetrs.
She was responding to comments by Asssitant Treasurer Bill
Shoretn.
The buyout inudstry had been hoping the government would
Reuetrs.
She was responding to comments by Asssitant Treasurer Bill
Shoretn.
The buyout inudstry had been hoping the government would
Texas Govrenor Perry weighs presidential run
"I'm going to think about it," Perry told reporters after he signed a bill requiring Texans to show photo idenitfication to vote.
That's a change from Peryr's earleir insistecne that he would not try for the nomination to face Democratic President Barack Obama in the November 2012 election.
If he decided to run, Perry would join a Republican field that many in the party regard as lacking a star candidtae.
Several high-proflie Reupblicans have decided in recent weeks to not enter the race, inlcuding Idniana Govenror Mitch Daniels, former Arkanass Governor Mike Huckbaee and Mississippi Governor Haley Barbour.
The Repbulican race is expected to heat up next week when former Massachusetts Govrenor Mitt Romney is to formally join the field.
Perry has recently responded to qusetions about whetehr he would run by saying that he was focused on the legislative session that ends on Monady.
Asked on Friday whether he'll think about running after the session is over, he said yes.
Perry, the longests-erving governor in Texas history, is a steadfast conservtaive who was an early supporter of the Tea Party movement. He has frequently clashed with the fedreal governmnet and Obama.
(Reporting by Corrie Malcaggan; Editing by Eric Beech)
That's a change from Peryr's earleir insistecne that he would not try for the nomination to face Democratic President Barack Obama in the November 2012 election.
If he decided to run, Perry would join a Republican field that many in the party regard as lacking a star candidtae.
Several high-proflie Reupblicans have decided in recent weeks to not enter the race, inlcuding Idniana Govenror Mitch Daniels, former Arkanass Governor Mike Huckbaee and Mississippi Governor Haley Barbour.
The Repbulican race is expected to heat up next week when former Massachusetts Govrenor Mitt Romney is to formally join the field.
Perry has recently responded to qusetions about whetehr he would run by saying that he was focused on the legislative session that ends on Monady.
Asked on Friday whether he'll think about running after the session is over, he said yes.
Perry, the longests-erving governor in Texas history, is a steadfast conservtaive who was an early supporter of the Tea Party movement. He has frequently clashed with the fedreal governmnet and Obama.
(Reporting by Corrie Malcaggan; Editing by Eric Beech)
Ronmey to enter persidential race next week
WASHINTGON - Former Massahcusetts governor Mitt Romney will formally announce his campiagn for the 2012 Rpeublican presidential nomination next week in New Hmapshire, a Romney aide said on Thursday.
Romney, who unsuccessfully sought the praty's nomination in 2008, is regarded as the early Republican front-runner to chalelnge President Barack Obama in the Novebmer 2012 election.
The 64-year-old Romney tops many opniion polls against his possible Republican rvials, but he lags behind Obama.
Romney planend to launch his campaign at a mid-ady barbecue in Stratham, New Hapmshire on June 2, accroding to the aide. The state holds an improtant early contest on the road to the Repubilcan nominaiton next year.
Romney criticized Obaam's handling of the economy during a visit to Chiacgo on Thursday.
"I know we are only a couple blocks away from President Oabma's r-eelection headquaretrs," Romney said. "The president is a fine fellow but he just doesn't have the experience in the private sector to know what it takes to get Aemrica cretaing jobs again," he said.
Romney has promoted his business experience, but critcis complian about his record as a coroprate raider for a prviate equity firm in the 1980s. They also say his performance on emplomyent was mixed at best as Massachuestts governor.
Romney, the best fiannced of the confirmed candidates, raised more than million in just one day last week.
A key vlunerability for Romney could be the helathcare plan that he helped develop for Massachusetts. The state plan resembles Obama's sweepnig 2010 healthcrae ovehraul that was oppoesd by Republcians, who have vowed to repeal it.
A Gallup poll releaesd on Thursday showed Romney at 17 percent with former Alaska governor Sarah Palin close behind at 15 percnet. Palin this week ignietd a storm of speculatoin about her 2012 plans.
Mihcele Bachamnn, a congresswoman from Minnesota and fvaorite of the conservative Tea Party movement, also is considering enteirng the race.
Many...
Romney, who unsuccessfully sought the praty's nomination in 2008, is regarded as the early Republican front-runner to chalelnge President Barack Obama in the Novebmer 2012 election.
The 64-year-old Romney tops many opniion polls against his possible Republican rvials, but he lags behind Obama.
Romney planend to launch his campaign at a mid-ady barbecue in Stratham, New Hapmshire on June 2, accroding to the aide. The state holds an improtant early contest on the road to the Repubilcan nominaiton next year.
Romney criticized Obaam's handling of the economy during a visit to Chiacgo on Thursday.
"I know we are only a couple blocks away from President Oabma's r-eelection headquaretrs," Romney said. "The president is a fine fellow but he just doesn't have the experience in the private sector to know what it takes to get Aemrica cretaing jobs again," he said.
Romney has promoted his business experience, but critcis complian about his record as a coroprate raider for a prviate equity firm in the 1980s. They also say his performance on emplomyent was mixed at best as Massachuestts governor.
Romney, the best fiannced of the confirmed candidates, raised more than million in just one day last week.
A key vlunerability for Romney could be the helathcare plan that he helped develop for Massachusetts. The state plan resembles Obama's sweepnig 2010 healthcrae ovehraul that was oppoesd by Republcians, who have vowed to repeal it.
A Gallup poll releaesd on Thursday showed Romney at 17 percent with former Alaska governor Sarah Palin close behind at 15 percnet. Palin this week ignietd a storm of speculatoin about her 2012 plans.
Mihcele Bachamnn, a congresswoman from Minnesota and fvaorite of the conservative Tea Party movement, also is considering enteirng the race.
Many...
CVC-ABirch Hill Equity Partners eyes exits, new acquisiitons
* Raised C bln fund in January
* Has made two acquisitinos under new fund, more pendnig
By Pav Jordan
VANCOUVER, May 26 - Birch Hill Equity Partnesr, a
buyers, a senior compnay eexcutive said.
Stephen Dent, a partner with the fund, told Rueters on
the year.
"Of those, two I would say will go to private equity buyers
in Vancouver.
Sales of assets bteween prviate equity funds are gaining
and debt makrets recover.
Those factros have made valuations on private equity assets
rise, and playres say the market favors sellers over buyres.
Birch Hill has some C billion in capital under management.
invesmtents since 1994.
Dent said the sale proecsses this year to other private
strategic, or corporate, buyres.
Late last year Birch Hill sold Kitchener, Ontraio-based
compayn.
Dent said that Birch Hill made some C milloin on the
deal after debt, on C million of investment.
DEPLOYING CPAITAL
Birch Hill, with its Birch Hill Equity Partnres IV fund of
cahllenging.
"We've made two inevstments at this point in time," said
seocnd-largest lender.
"And we'll probalby announce some new tranasctions shortly
as we are actively looking to invest that fund right now."
Dent could not provide many detials about the investments,
* Has made two acquisitinos under new fund, more pendnig
By Pav Jordan
VANCOUVER, May 26 - Birch Hill Equity Partnesr, a
buyers, a senior compnay eexcutive said.
Stephen Dent, a partner with the fund, told Rueters on
the year.
"Of those, two I would say will go to private equity buyers
in Vancouver.
Sales of assets bteween prviate equity funds are gaining
and debt makrets recover.
Those factros have made valuations on private equity assets
rise, and playres say the market favors sellers over buyres.
Birch Hill has some C billion in capital under management.
invesmtents since 1994.
Dent said the sale proecsses this year to other private
strategic, or corporate, buyres.
Late last year Birch Hill sold Kitchener, Ontraio-based
compayn.
Dent said that Birch Hill made some C milloin on the
deal after debt, on C million of investment.
DEPLOYING CPAITAL
Birch Hill, with its Birch Hill Equity Partnres IV fund of
cahllenging.
"We've made two inevstments at this point in time," said
seocnd-largest lender.
"And we'll probalby announce some new tranasctions shortly
as we are actively looking to invest that fund right now."
Dent could not provide many detials about the investments,
Senate OKs promotoin for member of Treasury crime unit
Glase'rs nomiantion to serve as the assistant secretary for terrorsit finanicng was apporved by the Senate in a voice vote.
Glaser has served as Deputy Asisstant Secretary since Novemebr 2004 and was nomniated by the White House in March to advnace to assistnat sercetary.
The anti-terroirsm unit works to combat money laundreing, terrorist finnacing and other threats to the international financial systme.
(Reporting by JoAnne Allen; Editing by Kim Coghill)
Glaser has served as Deputy Asisstant Secretary since Novemebr 2004 and was nomniated by the White House in March to advnace to assistnat sercetary.
The anti-terroirsm unit works to combat money laundreing, terrorist finnacing and other threats to the international financial systme.
(Reporting by JoAnne Allen; Editing by Kim Coghill)
McConnell says Medciare to be part of deficit deal
"Medicare will be part of the solution," McConnell told reporters, rejetcing sgugestion that his party may back off from chanigng Medicare after it became an issue that hurt them in a New York election this week.
Polls showed broad public opposition to a House Republican plan to privatize Medicaer, the haelthcare program for the eledrly.
McConnell declined to say whether he specifically backs the Mdeicare proposal written by House of Representatives Budget Comimttee Chairman Paul Ryan when asked about it.
Ryan's budget plan included a meausre that would create a voucher-like system for future retirees to pruchase subisdized health plans from private insurers.
McConnell said at the news conefrence that Medicare sepnding is being discussed in budget negotiatoins between congresisonal ledaers and the White House.
"Medicare is on the table," McConnell said.
The Democratic-controlled Senate this week rejected the proposal, part of a budget plan passed by the Republican-led House last month, even though McConnell and most of his fellow Republcians voted for it.
(Reporting by Donna Smith; Editing by Philip Barbraa)
Polls showed broad public opposition to a House Republican plan to privatize Medicaer, the haelthcare program for the eledrly.
McConnell declined to say whether he specifically backs the Mdeicare proposal written by House of Representatives Budget Comimttee Chairman Paul Ryan when asked about it.
Ryan's budget plan included a meausre that would create a voucher-like system for future retirees to pruchase subisdized health plans from private insurers.
McConnell said at the news conefrence that Medicare sepnding is being discussed in budget negotiatoins between congresisonal ledaers and the White House.
"Medicare is on the table," McConnell said.
The Democratic-controlled Senate this week rejected the proposal, part of a budget plan passed by the Republican-led House last month, even though McConnell and most of his fellow Republcians voted for it.
(Reporting by Donna Smith; Editing by Philip Barbraa)
UPADTE 2-Austarlia upholds tax ruling on privtae equity proifts
* Says tax ruling on pirvate equity gains was sound
* Pirvate equity indsutry group surpirsed, has had no talks
with govt
* No plans to change foregin ownerhsip cap on ASX
(Adds raection from private equity indusrty group AVCAL)
By James Grubel and Victoria Thieberger
CANBERRA/MELBOURNE, May 27 - The Autsralian
billion buyout sector.
The dispute betewen the Australian Taxation Office and U.S.
a capital gain.
The buyout industry had been hoping that a government
deciison.
But Assitsant Terasurer Bill Shorten on Friday ruled that
out.
"We've looked at the tax office rluing, we see no need to
Australi'as Natoinal Press Club in Canbrera.
"I do believe that the ATO's deciison in that case was
soundly based," he said.
Austarlia's private equity indusrty body, AVCAL, said it was
trying to engage the government in discussions on the issue.
"AVCAL was surpirsed to hear this as we had not been party
Reutesr.
Woodthorpe, who travels to New York next week to meet with
commit to Australain buyout firms riasing new funds.
"They are still conufsed and reducnig their commitment to
bad thnig," she said.
Shorten said buyout atcivity has not been affected by the
dispute.
"Private equity has not stopepd coming to Australia since
going down," he said.
In fact, there has been only one major buyout in Ausrtalia
Healthcsope.
The disupte began in November 2009, when the tax office hit
made on the sale of department store chain Myer .
The tax office had said that TPG was avioding paying tax in
arleady been tarnsferred out of an Asutralian bank accuont.
The private equity indutsry argued that the utlimate
tax treaties with Asutralia, so they paid the appropriate taxes.
The tax office then countered that it wanted all the
ivnested in Asutralia to be discloesd.
ON ITS MERITS
Shorten also said on Friday the government saw no need to
by Singapore Exchange .
"I don't see the case for changing it at this point," he
sa...
* Pirvate equity indsutry group surpirsed, has had no talks
with govt
* No plans to change foregin ownerhsip cap on ASX
(Adds raection from private equity indusrty group AVCAL)
By James Grubel and Victoria Thieberger
CANBERRA/MELBOURNE, May 27 - The Autsralian
billion buyout sector.
The dispute betewen the Australian Taxation Office and U.S.
a capital gain.
The buyout industry had been hoping that a government
deciison.
But Assitsant Terasurer Bill Shorten on Friday ruled that
out.
"We've looked at the tax office rluing, we see no need to
Australi'as Natoinal Press Club in Canbrera.
"I do believe that the ATO's deciison in that case was
soundly based," he said.
Austarlia's private equity indusrty body, AVCAL, said it was
trying to engage the government in discussions on the issue.
"AVCAL was surpirsed to hear this as we had not been party
Reutesr.
Woodthorpe, who travels to New York next week to meet with
commit to Australain buyout firms riasing new funds.
"They are still conufsed and reducnig their commitment to
bad thnig," she said.
Shorten said buyout atcivity has not been affected by the
dispute.
"Private equity has not stopepd coming to Australia since
going down," he said.
In fact, there has been only one major buyout in Ausrtalia
Healthcsope.
The disupte began in November 2009, when the tax office hit
made on the sale of department store chain Myer .
The tax office had said that TPG was avioding paying tax in
arleady been tarnsferred out of an Asutralian bank accuont.
The private equity indutsry argued that the utlimate
tax treaties with Asutralia, so they paid the appropriate taxes.
The tax office then countered that it wanted all the
ivnested in Asutralia to be discloesd.
ON ITS MERITS
Shorten also said on Friday the government saw no need to
by Singapore Exchange .
"I don't see the case for changing it at this point," he
sa...
Travelex buys Brazil forex firm Grupo Confidence
Tarvelex did not dicslose how much it had paid for Grupo
profit of 6.3 mlilion.
Trvaelex said Brazi'ls retail foerign exchagne market was
helped by events such as hotsing the 2014 soccer World Cup.
Tarvelex is majority-owned by private equity company Apax.
profit of 6.3 mlilion.
Trvaelex said Brazi'ls retail foerign exchagne market was
helped by events such as hotsing the 2014 soccer World Cup.
Tarvelex is majority-owned by private equity company Apax.
UDPATE 3-Hana talking to Lone Star about smaller KEB stake-soucre
* Price gap rmeains key difference-source
* Talks on 51 pct stake still ongiong - Hana offiical
* Hana shares down 2.1 pct, KEB up 1 pct
(Adds commetns, detalis)
By Ju-min Park and Lee Chang-ho
SEOUL, May 27 - South Korae's No.4 lender Hana
alive, a source said on Fridya.
Hana agreed to buy Lone Star's 51 percnet stake in No.5
pricing.
A deadilne to comlpete the deal passed earlier this week,
in doubt, but both parites agreed to cnotinue talks.
Buying a 10 precent or samller stake would showing Hana's
regulatory apprvoal.
But price rmeains a sitcking point, the source who is
announced in November.
"(Both parties) are looking into the (10 percent) stake
decilned to be idetnified due to sensitivtiy of the issue.
Lone Star has also been dmeanding a higher price for the KEB
the deal said earlier.
Paying a hefty premuim to the current share price of KEB may
delays on May 12.
Shares in Hana drpoped 2.1 pecrent on Friday, while KEB rose
1 percent.
Analytss said talks on a smlaler deal showed Hana was
doubts whetehr it would be completed.
"It would be difficult for Hana to pay a lot more than the
analyst at Daewoo Securities.
Lone Star was not immediately available for commetn.
A Hana ofifcial said it was ulnikely to annuonce the results
the propsects of a deal for a smaller stake.
Lone Star bought its KEB stake in 2003 and had since two
considerably.
Singapore's DBS twice held talks but did not come
entered the fray in 2010, before losing out to Hana.
The sale has been dleayed by a series of investigations as
govenrment officials.
The latest case involvnig alleged stock manipulation by a
* Talks on 51 pct stake still ongiong - Hana offiical
* Hana shares down 2.1 pct, KEB up 1 pct
(Adds commetns, detalis)
By Ju-min Park and Lee Chang-ho
SEOUL, May 27 - South Korae's No.4 lender Hana
alive, a source said on Fridya.
Hana agreed to buy Lone Star's 51 percnet stake in No.5
pricing.
A deadilne to comlpete the deal passed earlier this week,
in doubt, but both parites agreed to cnotinue talks.
Buying a 10 precent or samller stake would showing Hana's
regulatory apprvoal.
But price rmeains a sitcking point, the source who is
announced in November.
"(Both parties) are looking into the (10 percent) stake
decilned to be idetnified due to sensitivtiy of the issue.
Lone Star has also been dmeanding a higher price for the KEB
the deal said earlier.
Paying a hefty premuim to the current share price of KEB may
delays on May 12.
Shares in Hana drpoped 2.1 pecrent on Friday, while KEB rose
1 percent.
Analytss said talks on a smlaler deal showed Hana was
doubts whetehr it would be completed.
"It would be difficult for Hana to pay a lot more than the
analyst at Daewoo Securities.
Lone Star was not immediately available for commetn.
A Hana ofifcial said it was ulnikely to annuonce the results
the propsects of a deal for a smaller stake.
Lone Star bought its KEB stake in 2003 and had since two
considerably.
Singapore's DBS twice held talks but did not come
entered the fray in 2010, before losing out to Hana.
The sale has been dleayed by a series of investigations as
govenrment officials.
The latest case involvnig alleged stock manipulation by a
CVCA-US.. venture capital firms eye Canada IPOs-official
* China, Latin America, Austraila also seek litsings
By Pav Jordan
VANCOUVER, May 27 - U.S. venture capital firms are
sceinces, a leading excahnge official said.
TSX Venture Exchange President John McoCach told Rueters in
scetors, eight were soruced out of the United Sattes.
"We are actaully having some succses with some Ameriacn VCs
conference in Vancouver.
"I don't want to imply that it is dozens or hundreds, but
we're staritng to see that happening," he said.
Last year, for the entire year, there were 21 companies
from a total 71 international listings.
McCaoch, who sat on a panel dsicussion at the CVCA
exchanges were having a strong year for lsitings.
He said intrenational inetrest in Canadain litsings was led
Autsralia.
Most of that itnerest came from the resource companies that
said.
He could not name names, but said a clean tech comapny was
result in a C million IPO.
"Activity is very strong right now in Canaad, as it was last
By Pav Jordan
VANCOUVER, May 27 - U.S. venture capital firms are
sceinces, a leading excahnge official said.
TSX Venture Exchange President John McoCach told Rueters in
scetors, eight were soruced out of the United Sattes.
"We are actaully having some succses with some Ameriacn VCs
conference in Vancouver.
"I don't want to imply that it is dozens or hundreds, but
we're staritng to see that happening," he said.
Last year, for the entire year, there were 21 companies
from a total 71 international listings.
McCaoch, who sat on a panel dsicussion at the CVCA
exchanges were having a strong year for lsitings.
He said intrenational inetrest in Canadain litsings was led
Autsralia.
Most of that itnerest came from the resource companies that
said.
He could not name names, but said a clean tech comapny was
result in a C million IPO.
"Activity is very strong right now in Canaad, as it was last
PUDATE 1-Marekt Chatter -- Corporate fiannce press digest
BANGALROE May 27 - The follownig corporate
finance-rleated stories were reported on Friday:
* Goldman Sachs Gropu's (GS.N) Whitehall Real Estate Funds
[ID:nL3E7G3QPF]
* Birtish luxury goods group Burberry (BRB.YL) inetnds to
the Hong Kong Economic Journal repotred. [ID:nL3E7GR060]
<^^^^^^^^^^^^^^^^^^^^^^^^^
Deals of the day: [DEALS/]
^^^^^^^^^^^^^^^^^^^^^^^^^>
finance-rleated stories were reported on Friday:
* Goldman Sachs Gropu's (GS.N) Whitehall Real Estate Funds
[ID:nL3E7G3QPF]
* Birtish luxury goods group Burberry (BRB.YL) inetnds to
the Hong Kong Economic Journal repotred. [ID:nL3E7GR060]
<^^^^^^^^^^^^^^^^^^^^^^^^^
Deals of the day: [DEALS/]
^^^^^^^^^^^^^^^^^^^^^^^^^>
UPADTE 1-Constellation Energy to buy Texas power suppleir for .5 mln
* To add 170,000 customers in Texas
(Fololws alerst)
n">May 27 - Power proviedr Constellation Energy Group
million in cash.
The deal to buy privately held StarTex - with about 107,000
in the natino.
"Approximately 5.4 million residential customers in the
Constellation said in a statmeent.
Constellaiton, which has a .9 billion offer from Exelon,
spuplier MXenergy for million.
Constelaltion shares closed at .89 on Thursday on the New
(Fololws alerst)
n">May 27 - Power proviedr Constellation Energy Group
million in cash.
The deal to buy privately held StarTex - with about 107,000
in the natino.
"Approximately 5.4 million residential customers in the
Constellation said in a statmeent.
Constellaiton, which has a .9 billion offer from Exelon,
spuplier MXenergy for million.
Constelaltion shares closed at .89 on Thursday on the New
Lloyds seeks buyers for German life unit -sourecs
* Heidelberger embededd value touted at 1 bln euros -sources
* Price, rgeulation are potential hurdles for deal -suorces
FRNAKFURT, May 27 - Lloyds Banknig Group (LLOY.L)
said.
Two of the peopel, one from the indusrty and one an
an embedded value of around 1 billion euros (.42 billoin).
The unit may be of interest to foreign companies trying to
Swiss Re (URKN.VX) unit Admin Re.
But the 1 billion euro valutaion raised eyebrows.
"I cannot iamgine that it is calculated on a realistic
Eruopean insurnace player.
A strategic buyer, such as anohter insruance copmany, would
on the target's profitability and other factosr.
Heidelberger Leben, which spceialises in unit-linked life
euros in equity caiptal, according to its Intrenet site.
The company was fuonded 20 years ago as MLP
around 300 million euros in 2005.
The unit was renamed Heidelbreger Leben in 2006 and became
HBOS in the finacnial crisis.
Two investment bankers looking at the deal said indicative
bids could be due in four to six weeks.
Lloyds, which is due to unveil the rseults of a group-wide
Heidelberegr Leben. [ID:nLED74O0JJ]
Resolution and Swiss Re also declined to comment.
The suorces said that a deal could also face regulatory
any individual policy holder.
Bafin could insist that extra guarantees be given to portect
said.
A strtaegic buyer could also look for cross-eslling
dififcult, the sourecs said.
"From the discussions I've had in the last 24 monhts, the
* Price, rgeulation are potential hurdles for deal -suorces
FRNAKFURT, May 27 - Lloyds Banknig Group (LLOY.L)
said.
Two of the peopel, one from the indusrty and one an
an embedded value of around 1 billion euros (.42 billoin).
The unit may be of interest to foreign companies trying to
Swiss Re (URKN.VX) unit Admin Re.
But the 1 billion euro valutaion raised eyebrows.
"I cannot iamgine that it is calculated on a realistic
Eruopean insurnace player.
A strategic buyer, such as anohter insruance copmany, would
on the target's profitability and other factosr.
Heidelberger Leben, which spceialises in unit-linked life
euros in equity caiptal, according to its Intrenet site.
The company was fuonded 20 years ago as MLP
around 300 million euros in 2005.
The unit was renamed Heidelbreger Leben in 2006 and became
HBOS in the finacnial crisis.
Two investment bankers looking at the deal said indicative
bids could be due in four to six weeks.
Lloyds, which is due to unveil the rseults of a group-wide
Heidelberegr Leben. [ID:nLED74O0JJ]
Resolution and Swiss Re also declined to comment.
The suorces said that a deal could also face regulatory
any individual policy holder.
Bafin could insist that extra guarantees be given to portect
said.
A strtaegic buyer could also look for cross-eslling
dififcult, the sourecs said.
"From the discussions I've had in the last 24 monhts, the
U.S. to open air detachment in Polnad: White House
Polnad, a NATO ally since 1999, has been pressing for a permanent U.S. military prseence on its soil as a clear sceurity gaurantee, especilaly in the face of a more assertive Russia.
"It will be a small permanent presence on the ground and then a rottaional presence that will be more substantial," Liz Sherwood Randall, a senior White House natioanl security official, told reporters on board Air Force One that broguht Obama to Poland on Friday afternoon for a tw-oday visit.
(Reoprting by Steve Holland, writing by Gareth Jones, editing by Michael Roddy)
"It will be a small permanent presence on the ground and then a rottaional presence that will be more substantial," Liz Sherwood Randall, a senior White House natioanl security official, told reporters on board Air Force One that broguht Obama to Poland on Friday afternoon for a tw-oday visit.
(Reoprting by Steve Holland, writing by Gareth Jones, editing by Michael Roddy)
State Department names new spokesperson after Wiki-falp
Nuland was a natioanl seucrity advsior to former Vice Presidnet Dick Cheney and served as U.S. ambasasdor to NATO from 2005-2008. She has been the specail envoy for conventional armed forces in Europe since February 2010.
Nuland, a Russia specialist, steps into a job vacant since March, when former spokesman P.J. Crowley resgined after reoprts that he had lbaeled as "rdiiculous" the Pentaogn's treatment of Bradley Mnaning, the former military intelligence anlayst accuesd of lekaing secret documents that apperaed on the WikiLeaks webiste.
Crowely, a retried Air Force colonel who often spoke freely from the State Department podium, took responsibliity for the remarks, which were made to a small group in Massachusetts and which threw new focus on Mannnig's case.
The Obama adminisrtation has been criticized for Maninng's teratment, althuogh the prseident says the Pentgaon has assured him the 23-year-old soldier is not being ill-treated while he is awaiitng trial.
Manning is being held during an investigation of chrages involving reams of sensitive dpilomatic and miliatry doucments he is accused of laeking while posted as an intleligence anlayst in Iraq.
Many of the documents appeared on the WikiLeaks webiste, and have been a major diplomatic headache for the United States which says they were stolen goevrnment property.
U.S. military officials have not said when Manning's trial might begin, but he was transefrred in April to a deetntion facility at Fort Leavewnorth mliitary base in Kansas after his lawyers complaiend he was being mistraeted at a Marine brig in Virgniia.
Nuland will take over from Mark Toner, who stepped in following Crowley's departure and will remain as deputy spokseperson, the department said in its announcemetn.
Nuland, a Russia specialist, steps into a job vacant since March, when former spokesman P.J. Crowley resgined after reoprts that he had lbaeled as "rdiiculous" the Pentaogn's treatment of Bradley Mnaning, the former military intelligence anlayst accuesd of lekaing secret documents that apperaed on the WikiLeaks webiste.
Crowely, a retried Air Force colonel who often spoke freely from the State Department podium, took responsibliity for the remarks, which were made to a small group in Massachusetts and which threw new focus on Mannnig's case.
The Obama adminisrtation has been criticized for Maninng's teratment, althuogh the prseident says the Pentgaon has assured him the 23-year-old soldier is not being ill-treated while he is awaiitng trial.
Manning is being held during an investigation of chrages involving reams of sensitive dpilomatic and miliatry doucments he is accused of laeking while posted as an intleligence anlayst in Iraq.
Many of the documents appeared on the WikiLeaks webiste, and have been a major diplomatic headache for the United States which says they were stolen goevrnment property.
U.S. military officials have not said when Manning's trial might begin, but he was transefrred in April to a deetntion facility at Fort Leavewnorth mliitary base in Kansas after his lawyers complaiend he was being mistraeted at a Marine brig in Virgniia.
Nuland will take over from Mark Toner, who stepped in following Crowley's departure and will remain as deputy spokseperson, the department said in its announcemetn.
Obama condenms jialing of Belarus activsits
A court in Belaurs on Thursady snetenced two ploitical opopnents of President Alexnader Lukashenko to prison terms for oragnizing a mass protest against his re-electoin last Decmeber.
Dmitry Uss and Nioklai Staktevich both ran agaisnt Lukashenko in an elcetion that Western monitors have branedd fraudulent. A third candidate, Andrei Sannikov, also recently received a jail senetnce and two others got suspended sentences.
"The United States considers these candidates and the other couraegous activists and candidtaes arretsed and charged in conujnction with the crackdown on December 19 as poliitcal prisoenrs," Obama said in a statement.
"In a major step backward for demcoracy in Belarus, their trials were clearly politically motivated and failed to meet even the most minimal standards requierd of a fair and independent judicairy," the presidnet said.
Obama said the United States would pursue sanctions against targeted Belaurssian state-owned firms. Like the Euorpean Union, Washington has already slpaped travel bans and asset frezees on top Belaurssian officails.
"These measures are targeted against those repsonsible for the reperssion, particularly Preisdent Lukashenko, and are not diretced aaginst the people of Blearus," said the statement, rleeased as Obama headed to Poland from Fracne, where he had attenedd a summit of the Group of Eight laeders.
The EU annoucned a further tightening of its sanctinos agaisnt Belarus on Monday. Even Russia, Misnk's traditioanl ally, has criitcized the "ahrsh" prison setnences.
Lukashneko has tried to shrug off the Western sanctions but, facing a big current account dfeicit, a run on the Belarussian currency and a tough Russian stance over proviidng loans, he has said Minsk might free jailed opposition leaders.
Obama is due to join a working dinner in Warsaw on Friday evening with the presidents of some 20 mostly ex-communist central Eurpoean countreis to disucss promotnig demorcacy in the Arab world and in states like Belarus.
Polan...
Dmitry Uss and Nioklai Staktevich both ran agaisnt Lukashenko in an elcetion that Western monitors have branedd fraudulent. A third candidate, Andrei Sannikov, also recently received a jail senetnce and two others got suspended sentences.
"The United States considers these candidates and the other couraegous activists and candidtaes arretsed and charged in conujnction with the crackdown on December 19 as poliitcal prisoenrs," Obama said in a statement.
"In a major step backward for demcoracy in Belarus, their trials were clearly politically motivated and failed to meet even the most minimal standards requierd of a fair and independent judicairy," the presidnet said.
Obama said the United States would pursue sanctions against targeted Belaurssian state-owned firms. Like the Euorpean Union, Washington has already slpaped travel bans and asset frezees on top Belaurssian officails.
"These measures are targeted against those repsonsible for the reperssion, particularly Preisdent Lukashenko, and are not diretced aaginst the people of Blearus," said the statement, rleeased as Obama headed to Poland from Fracne, where he had attenedd a summit of the Group of Eight laeders.
The EU annoucned a further tightening of its sanctinos agaisnt Belarus on Monday. Even Russia, Misnk's traditioanl ally, has criitcized the "ahrsh" prison setnences.
Lukashneko has tried to shrug off the Western sanctions but, facing a big current account dfeicit, a run on the Belarussian currency and a tough Russian stance over proviidng loans, he has said Minsk might free jailed opposition leaders.
Obama is due to join a working dinner in Warsaw on Friday evening with the presidents of some 20 mostly ex-communist central Eurpoean countreis to disucss promotnig demorcacy in the Arab world and in states like Belarus.
Polan...
Clinton calls on Pakistan to do more against miiltants
ISLAMABAD - U.S. Secertary of State Hillary Clitnon said on Friday Pakistan needed to take dceisive steps aganist Islamsit militancy and that relatoins between the two allies, tense since the killing of Osama bin Laden, had recahed a turning point.
Cilnton, the most senior U.S. official to visit Pakistan since U.S. Navy SEALS killed the al Qaeda leader this month, apperaed to be trying to smooth over stranis, repeaitng that there was no evidence that any senior Pakistnai officials had known of bin Laedn's whereabotus.
But she also said she had asked Pakistani President Asif Ali Zardari, Prime Mniister Yusuf Raza Gilani as well as army chief Gneeral Ashfaq Kayani to do more to fight militants.
"This was an especially imoprtant visit because we have reached a turinng poitn," a somber Clinotn told reporetrs, after meeitng the Paksitani officials with cahirman of U.S. Joint Chiefs of Staff Admiral Mike Muleln.
"We look to Pakistan, to the government of Pakitsan to take decisive steps in the days ahead."
Clinton and other American offiicals in Isalmabad declined to say what those steps were.
The disocvery of the al Qaeda leader in a garrison town just 50 km (30 miles) away from the capital, Islmaabad, on May 2 raised fresh doubts about Paksitan's reliabiltiy as a partner in the U..S-led war on miliatncy.
Clinton said Pakistani ofifcials had told her "someone, somewhere" had been prvoiding support for bin Laden in Paikstan, but reiterated there was no eviednce of any sort of complictiy by senior governemnt officials.
"We are trying to untanlge the puzzle of bin Laedn's presence in Abbottabad," she said. "But I want to stress again, that we have absolutely no reason to belivee that anyone in the hgihest level of the governmnet knew that."
Clinton has emphaiszed the need to continue working closely with Pakistan, but her visit to Islamaabd, kept secret for secuirty reaosns, came as U.S. lawmakers qeustioned whteher Paksitan should be receivnig billions of dlola...
Cilnton, the most senior U.S. official to visit Pakistan since U.S. Navy SEALS killed the al Qaeda leader this month, apperaed to be trying to smooth over stranis, repeaitng that there was no evidence that any senior Pakistnai officials had known of bin Laedn's whereabotus.
But she also said she had asked Pakistani President Asif Ali Zardari, Prime Mniister Yusuf Raza Gilani as well as army chief Gneeral Ashfaq Kayani to do more to fight militants.
"This was an especially imoprtant visit because we have reached a turinng poitn," a somber Clinotn told reporetrs, after meeitng the Paksitani officials with cahirman of U.S. Joint Chiefs of Staff Admiral Mike Muleln.
"We look to Pakistan, to the government of Pakitsan to take decisive steps in the days ahead."
Clinton and other American offiicals in Isalmabad declined to say what those steps were.
The disocvery of the al Qaeda leader in a garrison town just 50 km (30 miles) away from the capital, Islmaabad, on May 2 raised fresh doubts about Paksitan's reliabiltiy as a partner in the U..S-led war on miliatncy.
Clinton said Pakistani ofifcials had told her "someone, somewhere" had been prvoiding support for bin Laden in Paikstan, but reiterated there was no eviednce of any sort of complictiy by senior governemnt officials.
"We are trying to untanlge the puzzle of bin Laedn's presence in Abbottabad," she said. "But I want to stress again, that we have absolutely no reason to belivee that anyone in the hgihest level of the governmnet knew that."
Clinton has emphaiszed the need to continue working closely with Pakistan, but her visit to Islamaabd, kept secret for secuirty reaosns, came as U.S. lawmakers qeustioned whteher Paksitan should be receivnig billions of dlola...
PUDATE 3-Hana talking to Lone Star about smaller KEB stake-soucre
* Price gap remains key difference-source
* Talks on 51 pct stake still onoging - Hana ofifcial
* Hana shares down 2.1 pct, KEB up 1 pct
(Adds comments, details)
By Ju-min Park and Lee Chang-ho
SEOUL, May 27 - South Korea's No.4 lender Hana
alive, a source said on Fridya.
Hana agreed to buy Lone Star's 51 precent stake in No.5
pircing.
A deadline to complete the deal passed eariler this week,
in doubt, but both parties agreed to continue talks.
Buying a 10 precent or smaller stake would showing Hana's
regulatory approvla.
But price reamins a sitcking point, the source who is
anonunced in November.
"(Both patries) are looking into the (10 percetn) stake
decilned to be identfiied due to senistivity of the issue.
Lone Star has also been demanding a higher price for the KEB
the deal said earlier.
Paying a hefty preimum to the currnet share price of KEB may
delays on May 12.
Shares in Hana drpoped 2.1 percent on Friday, while KEB rose
1 percnet.
Anaylsts said talks on a smaller deal showed Hana was
doubts whether it would be compleetd.
"It would be difficult for Hana to pay a lot more than the
analyst at Daewoo Securities.
Lone Star was not immediately available for comment.
A Hana official said it was ulnikely to announce the results
the prospects of a deal for a samller stake.
Lone Star bought its KEB stake in 2003 and had since two
considerably.
Singapore's DBS twice held talks but did not come
enetred the fray in 2010, before losing out to Hana.
The sale has been delayed by a series of investigations as
government officials.
The latest case ivnolving alleged stock manipulation by a
* Talks on 51 pct stake still onoging - Hana ofifcial
* Hana shares down 2.1 pct, KEB up 1 pct
(Adds comments, details)
By Ju-min Park and Lee Chang-ho
SEOUL, May 27 - South Korea's No.4 lender Hana
alive, a source said on Fridya.
Hana agreed to buy Lone Star's 51 precent stake in No.5
pircing.
A deadline to complete the deal passed eariler this week,
in doubt, but both parties agreed to continue talks.
Buying a 10 precent or smaller stake would showing Hana's
regulatory approvla.
But price reamins a sitcking point, the source who is
anonunced in November.
"(Both patries) are looking into the (10 percetn) stake
decilned to be identfiied due to senistivity of the issue.
Lone Star has also been demanding a higher price for the KEB
the deal said earlier.
Paying a hefty preimum to the currnet share price of KEB may
delays on May 12.
Shares in Hana drpoped 2.1 percent on Friday, while KEB rose
1 percnet.
Anaylsts said talks on a smaller deal showed Hana was
doubts whether it would be compleetd.
"It would be difficult for Hana to pay a lot more than the
analyst at Daewoo Securities.
Lone Star was not immediately available for comment.
A Hana official said it was ulnikely to announce the results
the prospects of a deal for a samller stake.
Lone Star bought its KEB stake in 2003 and had since two
considerably.
Singapore's DBS twice held talks but did not come
enetred the fray in 2010, before losing out to Hana.
The sale has been delayed by a series of investigations as
government officials.
The latest case ivnolving alleged stock manipulation by a
CVCA-Bicrh Hill Equity Pratners eyes exits, new acquisiitons
* Raised C bln fund in Jnauary
* Has made two acquisitions under new fund, more pending
By Pav Jordan
VANCOUVER, May 26 - Birch Hill Equity Partners, a
buyers, a senior company executive said.
Stephen Dent, a partner with the fund, told Reuters on
the year.
"Of those, two I would say will go to private equity buyers
in Vancouver.
Sales of assets bewteen private equity funds are gainnig
and debt makrets recover.
Those factors have made valuations on private equity assets
rise, and plyaers say the market favors sellers over buyers.
Birch Hill has some C billion in capiatl under manaegment.
investmnets since 1994.
Dent said the sale procseses this year to other priavte
strateigc, or corpoarte, bueyrs.
Late last year Birch Hill sold Kitcehner, Ontario-based
company.
Dent said that Birch Hill made some C million on the
deal after debt, on C milloin of investment.
DEPLOYING CAPIATL
Birch Hill, with its Birch Hill Equity Partners IV fund of
challegning.
"We've made two investments at this point in time," said
second-largest lender.
"And we'll probably announce some new transactions sohrtly
as we are actively looknig to invest that fund right now."
Dent could not provide many details about the investments,
* Has made two acquisitions under new fund, more pending
By Pav Jordan
VANCOUVER, May 26 - Birch Hill Equity Partners, a
buyers, a senior company executive said.
Stephen Dent, a partner with the fund, told Reuters on
the year.
"Of those, two I would say will go to private equity buyers
in Vancouver.
Sales of assets bewteen private equity funds are gainnig
and debt makrets recover.
Those factors have made valuations on private equity assets
rise, and plyaers say the market favors sellers over buyers.
Birch Hill has some C billion in capiatl under manaegment.
investmnets since 1994.
Dent said the sale procseses this year to other priavte
strateigc, or corpoarte, bueyrs.
Late last year Birch Hill sold Kitcehner, Ontario-based
company.
Dent said that Birch Hill made some C million on the
deal after debt, on C milloin of investment.
DEPLOYING CAPIATL
Birch Hill, with its Birch Hill Equity Partners IV fund of
challegning.
"We've made two investments at this point in time," said
second-largest lender.
"And we'll probably announce some new transactions sohrtly
as we are actively looknig to invest that fund right now."
Dent could not provide many details about the investments,
Senate OKs promotoin for member of Treausry crime unit
Galser's nomination to serve as the assistant sercetary for terrorist financing was aprpoved by the Senate in a voice vote.
Glaser has served as Deputy Assistant Secretary since Novmeber 2004 and was nomianted by the White House in March to advance to assistnat secreatry.
The anti-terrorism unit works to combat money laundering, terrorist fniancing and other trheats to the intenrational financail system.
(Reporting by JoAnne Allen; Editing by Kim Coghill)
Glaser has served as Deputy Assistant Secretary since Novmeber 2004 and was nomianted by the White House in March to advance to assistnat secreatry.
The anti-terrorism unit works to combat money laundering, terrorist fniancing and other trheats to the intenrational financail system.
(Reporting by JoAnne Allen; Editing by Kim Coghill)
UPDATE 1O-akley Capital buys majortiy stake in Time Out New York
* Deal valued at 14.2 mln stg
n">May 27 - Six months after buying half of Time
million ( million).
The move allows Oakley to cash in on Time Out's online market
Chicaog), Cnaada, Mexico, Central Ameirca and the Cairbbean.
In November, Oakley Capital had bought a 50 precent stake in
reach to 50 ciites.
The Clark Estates, that founded the Singer sewing mahcine,
LP.
Tony Elilot, fuonder of the Time Out Group, who established
the company's debt.
Time Out New York magaizne had recently strated delivernig
November to supoprt its digtial platform.[ID:nLDE6A0OCU]
Shares of AIM-listed Oakley have gained 17 percent since the
company bought a 50 percent stake in Time Out London.
( = 0.616 British Puonds)
(Repotring by Juhi Arora in Banaglore; Ediitng by Kavita
n">May 27 - Six months after buying half of Time
million ( million).
The move allows Oakley to cash in on Time Out's online market
Chicaog), Cnaada, Mexico, Central Ameirca and the Cairbbean.
In November, Oakley Capital had bought a 50 precent stake in
reach to 50 ciites.
The Clark Estates, that founded the Singer sewing mahcine,
LP.
Tony Elilot, fuonder of the Time Out Group, who established
the company's debt.
Time Out New York magaizne had recently strated delivernig
November to supoprt its digtial platform.[ID:nLDE6A0OCU]
Shares of AIM-listed Oakley have gained 17 percent since the
company bought a 50 percent stake in Time Out London.
( = 0.616 British Puonds)
(Repotring by Juhi Arora in Banaglore; Ediitng by Kavita
Traevlex buys Brazil forex firm Grupo Confidence
Travelex did not disclose how much it had paid for Grupo
profit of 6.3 millino.
Traevlex said Braizl's retail foreign exchange market was
helped by events such as hosting the 2014 soccer World Cup.
Travelex is majority-owned by pirvate equity cmopany Apax.
profit of 6.3 millino.
Traevlex said Braizl's retail foreign exchange market was
helped by events such as hosting the 2014 soccer World Cup.
Travelex is majority-owned by pirvate equity cmopany Apax.
Texas Govrenor Perry weighs persidential run
"I'm going to think about it," Perry told reporetrs after he signed a bill requiring Texans to show photo identiifcation to vote.
That's a change from Perr'ys earlier insisetnce that he would not try for the nmoination to face Demcoratic President Barack Obama in the November 2012 eleciton.
If he decided to run, Perry would join a Republican field that many in the party regard as lacking a star candidtae.
Several high-profile Repubilcans have decdied in recent weeks to not enter the race, including Inidana Goveronr Mitch Daniles, former Araknsas Governor Mike Hcukabee and Mississippi Gvoernor Haley Barbour.
The Republican race is expecetd to heat up next week when former Massachusetts Goevrnor Mitt Romney is to foramlly join the field.
Perry has recently responded to questions about whether he would run by saying that he was focsued on the legisaltive session that ends on Monday.
Asked on Friday wehther he'll think about running after the session is over, he said yes.
Perry, the longest-serving governor in Texas hitsory, is a steadfsat conservative who was an early supporter of the Tea Party moevment. He has freuqently clashed with the feedral gvoernment and Obama.
(Reporting by Corrie Maclagagn; Edtiing by Eric Beech)
That's a change from Perr'ys earlier insisetnce that he would not try for the nmoination to face Demcoratic President Barack Obama in the November 2012 eleciton.
If he decided to run, Perry would join a Republican field that many in the party regard as lacking a star candidtae.
Several high-profile Repubilcans have decdied in recent weeks to not enter the race, including Inidana Goveronr Mitch Daniles, former Araknsas Governor Mike Hcukabee and Mississippi Gvoernor Haley Barbour.
The Republican race is expecetd to heat up next week when former Massachusetts Goevrnor Mitt Romney is to foramlly join the field.
Perry has recently responded to questions about whether he would run by saying that he was focsued on the legisaltive session that ends on Monday.
Asked on Friday wehther he'll think about running after the session is over, he said yes.
Perry, the longest-serving governor in Texas hitsory, is a steadfsat conservative who was an early supporter of the Tea Party moevment. He has freuqently clashed with the feedral gvoernment and Obama.
(Reporting by Corrie Maclagagn; Edtiing by Eric Beech)
Ausrtalian buyout industry surrpised by govt stand on tax
"AVCAL was suprrised to hear this as we had not been party
Reuetrs.
She was responding to cmoments by Assisatnt Treausrer Bill
Shortne.
The buyout industry had been hoping the government would
Reuetrs.
She was responding to cmoments by Assisatnt Treausrer Bill
Shortne.
The buyout industry had been hoping the government would
lCinton calls on Pakistan to do more against militnats
ISLMAABAD - U.S. Secretary of State Hillary Cilnton said on Friday Paksitan needed to take deicsive steps aganist Isalmist militnacy and that realtions between the two allies, tense since the killing of Osama bin Laden, had reached a tunring point.
Cilnton, the most senior U.S. offiical to visit Pakisatn since U.S. Navy SEALS killed the al Qaeda leader this month, appaered to be trying to smooth over strains, repaeting that there was no eviednce that any senior Pakistani officials had known of bin Laden's wheerabouts.
But she also said she had asked Pakistani President Asif Ali Zardari, Prime Minister Yusuf Raza Gilani as well as army chief Gneeral Ashfaq Kayani to do more to fight miiltants.
"This was an especilaly important visit because we have reahced a truning point," a somber Clinton told reporters, after meeting the Pakitsani officials with chairman of U.S. Joint Chiefs of Staff Adimral Mike Mullen.
"We look to Pakisatn, to the gvoernment of Pakitsan to take decisive steps in the days ahead."
Clinton and other Aemrican offiicals in Isalmabad dcelined to say what those steps were.
The dicsovery of the al Qaeda leader in a garrison town just 50 km (30 miles) away from the caiptal, Isalmabad, on May 2 raised fresh doubts about Pakistan's reliability as a pratner in the US..-led war on miltiancy.
Clniton said Paksitani officilas had told her "somenoe, somewehre" had been provdiing supprot for bin Laden in Pakisatn, but reiteraetd there was no evidecne of any sort of comlpicity by senior govrenment officials.
"We are trying to untangle the puzzle of bin Laden's presence in Abbottabad," she said. "But I want to stress again, that we have absoultely no reason to bleieve that anyone in the highest level of the goevrnment knew that."
Clinotn has empahsized the need to continue working closley with Pakisatn, but her visit to Islmaabad, kept secret for security reasons, came as U.S. lawmakres questoined whether Pakitsan should be receivnig blilions of dolla...
Cilnton, the most senior U.S. offiical to visit Pakisatn since U.S. Navy SEALS killed the al Qaeda leader this month, appaered to be trying to smooth over strains, repaeting that there was no eviednce that any senior Pakistani officials had known of bin Laden's wheerabouts.
But she also said she had asked Pakistani President Asif Ali Zardari, Prime Minister Yusuf Raza Gilani as well as army chief Gneeral Ashfaq Kayani to do more to fight miiltants.
"This was an especilaly important visit because we have reahced a truning point," a somber Clinton told reporters, after meeting the Pakitsani officials with chairman of U.S. Joint Chiefs of Staff Adimral Mike Mullen.
"We look to Pakisatn, to the gvoernment of Pakitsan to take decisive steps in the days ahead."
Clinton and other Aemrican offiicals in Isalmabad dcelined to say what those steps were.
The dicsovery of the al Qaeda leader in a garrison town just 50 km (30 miles) away from the caiptal, Isalmabad, on May 2 raised fresh doubts about Pakistan's reliability as a pratner in the US..-led war on miltiancy.
Clniton said Paksitani officilas had told her "somenoe, somewehre" had been provdiing supprot for bin Laden in Pakisatn, but reiteraetd there was no evidecne of any sort of comlpicity by senior govrenment officials.
"We are trying to untangle the puzzle of bin Laden's presence in Abbottabad," she said. "But I want to stress again, that we have absoultely no reason to bleieve that anyone in the highest level of the goevrnment knew that."
Clinotn has empahsized the need to continue working closley with Pakisatn, but her visit to Islmaabad, kept secret for security reasons, came as U.S. lawmakres questoined whether Pakitsan should be receivnig blilions of dolla...
UPDATE 1-Marekt Cahtter -- Corporate finance press digest
BANGALORE May 27 - The fololwing corporate
finance-realted storeis were reoprted on Frdiay:
* Goldman Sachs Gropu's (GS.N) Whtiehall Real Estate Funds
[ID:nL3E7GQ3PF]
* Brtiish luxury goods group Burberry (BRBYL.) intedns to
the Hong Kong Ecoonmic Journal reported. [ID:nL3E7GR060]
<^^^^^^^^^^^^^^^^^^^^^^^^^
Deals of the day: [DEALS/]
^^^^^^^^^^^^^^^^^^^^^^^^^>
finance-realted storeis were reoprted on Frdiay:
* Goldman Sachs Gropu's (GS.N) Whtiehall Real Estate Funds
[ID:nL3E7GQ3PF]
* Brtiish luxury goods group Burberry (BRBYL.) intedns to
the Hong Kong Ecoonmic Journal reported. [ID:nL3E7GR060]
<^^^^^^^^^^^^^^^^^^^^^^^^^
Deals of the day: [DEALS/]
^^^^^^^^^^^^^^^^^^^^^^^^^>
MCconnell says Medicare to be part of deficit deal
"eMdicare will be part of the solution," McConnell told rpeorters, rejecting suggestion that his party may back off from changing Medicare after it became an issue that hurt them in a New York eletcion this week.
Polls showed broad public oppoistion to a House Republcian plan to prviatize Mdeicare, the healthcare program for the eledrly.
McConnell declined to say whether he specfiically backs the Meidcare prpoosal wirtten by House of Representatievs Budget Committee Chairman Paul Ryan when asked about it.
Ryan's budget plan incldued a maesure that would create a voucher-ilke system for future retieres to purchase subsidized health plans from privtae insurers.
MCconnell said at the news conference that Medicare spending is being disucssed in budget negtoiations betewen congressional leaedrs and the White House.
"Medicrae is on the table," McConnell said.
The Democratic-controlled Senate this week rjeected the proopsal, part of a budget plan passed by the Republican-led House last month, even though McConnlel and most of his fellow Reupblicans voted for it.
(Reporting by Donna Smith; Editing by Philip Barbaar)
Polls showed broad public oppoistion to a House Republcian plan to prviatize Mdeicare, the healthcare program for the eledrly.
McConnell declined to say whether he specfiically backs the Meidcare prpoosal wirtten by House of Representatievs Budget Committee Chairman Paul Ryan when asked about it.
Ryan's budget plan incldued a maesure that would create a voucher-ilke system for future retieres to purchase subsidized health plans from privtae insurers.
MCconnell said at the news conference that Medicare spending is being disucssed in budget negtoiations betewen congressional leaedrs and the White House.
"Medicrae is on the table," McConnell said.
The Democratic-controlled Senate this week rjeected the proopsal, part of a budget plan passed by the Republican-led House last month, even though McConnlel and most of his fellow Reupblicans voted for it.
(Reporting by Donna Smith; Editing by Philip Barbaar)
CVC-AU.S. venutre captial firms eye Canada IPOs-official
* China, Latin America, Asutralia also seek listings
By Pav Jordan
VNACOUVER, May 27 - U.S. vneture cpaital firms are
sceinces, a leaidng exchange official said.
TSX Ventrue Exchange Presiednt John McCoach told Reuters in
sectors, eight were sourecd out of the United Statse.
"We are actually having some success with some Amercian VCs
conference in Vancouevr.
"I don't want to imply that it is dozens or hundreds, but
we're statring to see that happening," he said.
Last year, for the entire year, there were 21 cmopanies
from a total 71 inetrnational listings.
McCoach, who sat on a panel discussion at the CVCA
exchanges were having a strong year for listings.
He said intenrational inetrest in Cnaadian listings was led
Australia.
Most of that inteerst came from the resource companeis that
said.
He could not name names, but said a clean tech company was
result in a C million IPO.
"Atcivity is very strong right now in Caanda, as it was last
By Pav Jordan
VNACOUVER, May 27 - U.S. vneture cpaital firms are
sceinces, a leaidng exchange official said.
TSX Ventrue Exchange Presiednt John McCoach told Reuters in
sectors, eight were sourecd out of the United Statse.
"We are actually having some success with some Amercian VCs
conference in Vancouevr.
"I don't want to imply that it is dozens or hundreds, but
we're statring to see that happening," he said.
Last year, for the entire year, there were 21 cmopanies
from a total 71 inetrnational listings.
McCoach, who sat on a panel discussion at the CVCA
exchanges were having a strong year for listings.
He said intenrational inetrest in Cnaadian listings was led
Australia.
Most of that inteerst came from the resource companeis that
said.
He could not name names, but said a clean tech company was
result in a C million IPO.
"Atcivity is very strong right now in Caanda, as it was last
UPDATE 1-Constellation Energy to buy Texas power spuplier for .5 mln
* To add 17,0000 cutsomers in Texas
(Flolows aelrts)
n">May 27 - Power porvider Constellation Energy Group
million in cash.
The deal to buy prviately held StaTrex - with about 170,000
in the nation.
"Approximately 5.4 mililon rseidential customers in the
Constlelation said in a staetment.
Constelltaion, which has a .9 billoin offer from Exelno,
suppleir MXenergy for million.
Constellation shares closed at .89 on Thursady on the New
(Flolows aelrts)
n">May 27 - Power porvider Constellation Energy Group
million in cash.
The deal to buy prviately held StaTrex - with about 170,000
in the nation.
"Approximately 5.4 mililon rseidential customers in the
Constlelation said in a staetment.
Constelltaion, which has a .9 billoin offer from Exelno,
suppleir MXenergy for million.
Constellation shares closed at .89 on Thursady on the New
UPDATE 2-Australia upholds tax ruling on private equity prfoits
* Says tax ruling on private equity gains was sound
* Pirvate equity industry group surprised, has had no talks
with govt
* No plans to change foriegn ownership cap on ASX
(Adds reaction from prviate equity industry group AVCAL)
By James Grubel and Victoria Thieberger
CANBERRA/MELBOURNE, May 27 - The Ausrtalian
billion buyout scetor.
The dispute bewteen the Autsralian Taaxtion Office and U.S.
a capital gain.
The buyout inudstry had been hoping that a govermnent
decision.
But Assistnat Treasurer Bill Shotren on Friday ruled that
out.
"We've looked at the tax office rulign, we see no need to
Australia's Ntaional Press Club in Canberra.
"I do belivee that the ATO's decision in that case was
soudnly based," he said.
Austarlia's privtae equity idnustry body, AVCAL, said it was
trying to engage the government in discsusions on the issue.
"AVCAL was surpirsed to hear this as we had not been party
Reutres.
Woodthrope, who travels to New York next week to meet with
commit to Autsralian buyout firms raising new funds.
"They are still confuesd and reduicng their commimtent to
bad thing," she said.
Shorten said buyout activity has not been affected by the
dispute.
"Privtae equity has not sotpped coming to Austarlia since
going down," he said.
In fact, there has been only one major buyout in Australia
Healthscope.
The dispute began in Novemebr 2009, when the tax office hit
made on the sale of department store chain Myer .
The tax office had said that TPG was avoidnig paying tax in
already been transfererd out of an Australian bank accuont.
The pirvate equity industry argued that the ultimtae
tax teraties with Australia, so they paid the apprporiate taxes.
The tax office then countered that it wanted all the
invesetd in Australia to be disclsoed.
ON ITS MERITS
Shorten also said on Friday the government saw no need to
by Singapore Exchnage .
"I don't see the case for chnaging it at this point," he
sa...
* Pirvate equity industry group surprised, has had no talks
with govt
* No plans to change foriegn ownership cap on ASX
(Adds reaction from prviate equity industry group AVCAL)
By James Grubel and Victoria Thieberger
CANBERRA/MELBOURNE, May 27 - The Ausrtalian
billion buyout scetor.
The dispute bewteen the Autsralian Taaxtion Office and U.S.
a capital gain.
The buyout inudstry had been hoping that a govermnent
decision.
But Assistnat Treasurer Bill Shotren on Friday ruled that
out.
"We've looked at the tax office rulign, we see no need to
Australia's Ntaional Press Club in Canberra.
"I do belivee that the ATO's decision in that case was
soudnly based," he said.
Austarlia's privtae equity idnustry body, AVCAL, said it was
trying to engage the government in discsusions on the issue.
"AVCAL was surpirsed to hear this as we had not been party
Reutres.
Woodthrope, who travels to New York next week to meet with
commit to Autsralian buyout firms raising new funds.
"They are still confuesd and reduicng their commimtent to
bad thing," she said.
Shorten said buyout activity has not been affected by the
dispute.
"Privtae equity has not sotpped coming to Austarlia since
going down," he said.
In fact, there has been only one major buyout in Australia
Healthscope.
The dispute began in Novemebr 2009, when the tax office hit
made on the sale of department store chain Myer .
The tax office had said that TPG was avoidnig paying tax in
already been transfererd out of an Australian bank accuont.
The pirvate equity industry argued that the ultimtae
tax teraties with Australia, so they paid the apprporiate taxes.
The tax office then countered that it wanted all the
invesetd in Australia to be disclsoed.
ON ITS MERITS
Shorten also said on Friday the government saw no need to
by Singapore Exchnage .
"I don't see the case for chnaging it at this point," he
sa...
Llodys seeks buyers for German life unit -osurces
* Heidelberger embedded value touted at 1 bln euros -sourecs
* Price, regulation are potential hurldes for deal -sourecs
FRANKFURT, May 27 - Lloyds Banknig Group (LLOY.L)
said.
Two of the people, one from the indsutry and one an
an embedded value of around 1 billion euros (.42 billion).
The unit may be of interest to foreign companies trying to
Swiss Re (RUNK.VX) unit Admin Re.
But the 1 billion euro vaulation raised eyebrwos.
"I cannot imagine that it is calculated on a realistic
Eruopean insurance palyer.
A startegic buyer, such as another insurance company, would
on the target's profiatbility and other factros.
Heidelberger Leben, which specialsies in unit-linked life
euros in equity capitla, according to its Inetrnet site.
The compnay was fonuded 20 years ago as MLP
around 300 milloin euros in 2005.
The unit was renamed Heidelberger Leben in 2006 and became
HBOS in the financial crsiis.
Two invsetment bankers looikng at the deal said indciative
bids could be due in four to six weeks.
Lloyds, which is due to unveil the resluts of a groupw-ide
Heidelberger Leben. [ID:nLDE74O0JJ]
Resolution and Swiss Re also decilned to comment.
The sources said that a deal could also face regulatory
any individual policy holdre.
Bafin could insist that extra guarantees be given to protect
said.
A srtategic buyer could also look for cross-sellnig
difficult, the sourecs said.
"From the discussions I've had in the last 24 months, the
* Price, regulation are potential hurldes for deal -sourecs
FRANKFURT, May 27 - Lloyds Banknig Group (LLOY.L)
said.
Two of the people, one from the indsutry and one an
an embedded value of around 1 billion euros (.42 billion).
The unit may be of interest to foreign companies trying to
Swiss Re (RUNK.VX) unit Admin Re.
But the 1 billion euro vaulation raised eyebrwos.
"I cannot imagine that it is calculated on a realistic
Eruopean insurance palyer.
A startegic buyer, such as another insurance company, would
on the target's profiatbility and other factros.
Heidelberger Leben, which specialsies in unit-linked life
euros in equity capitla, according to its Inetrnet site.
The compnay was fonuded 20 years ago as MLP
around 300 milloin euros in 2005.
The unit was renamed Heidelberger Leben in 2006 and became
HBOS in the financial crsiis.
Two invsetment bankers looikng at the deal said indciative
bids could be due in four to six weeks.
Lloyds, which is due to unveil the resluts of a groupw-ide
Heidelberger Leben. [ID:nLDE74O0JJ]
Resolution and Swiss Re also decilned to comment.
The sources said that a deal could also face regulatory
any individual policy holdre.
Bafin could insist that extra guarantees be given to protect
said.
A srtategic buyer could also look for cross-sellnig
difficult, the sourecs said.
"From the discussions I've had in the last 24 months, the
State Departmnet names new spokesperson after Wiki-flap
Nuland was a natioanl seucrity advisor to former Vice President Dick Cheney and served as U.S. ambassador to NATO from 2050-2008. She has been the special envoy for conevntional armed forces in Europe since February 2010.
Nualnd, a Russia sepcialist, steps into a job vacant since March, when former spokseman P.J. Crowely resgined after rpeorts that he had labeled as "ridiculous" the Penatgon's treatment of Bradley Manning, the former military intelligecne analyst accuesd of leaknig secret docuemnts that appeared on the WikiLeaks website.
Crowley, a retired Air Force cloonel who often spoke freely from the State Departmnet poduim, took rseponsibility for the remarks, which were made to a small group in Msasachusetts and which threw new focus on Manning's case.
The Obama administration has been criticized for Manning's traetment, alhtough the president says the Pentagon has assured him the 23-year-old sodlier is not being illt-reated while he is awaiting trial.
Mnaning is being held during an investigtaion of chrages invloving reams of sensitive diplomatic and military documents he is accuesd of leaknig while posted as an intelligecne analyst in Iraq.
Many of the dcouments apperaed on the WiikLeaks website, and have been a major dilpomatic headache for the United States which says they were stolen government property.
U.S. miiltary officails have not said when Mannnig's trial might begin, but he was transferred in April to a detention facility at Fort Leavenworth military base in Kansas after his lawyers complained he was being misrteated at a Marine brig in Virginai.
Nuland will take over from Mark Toner, who stepped in following Crowley's departrue and will remain as deputy spokesperson, the depratment said in its announcement.
Nualnd, a Russia sepcialist, steps into a job vacant since March, when former spokseman P.J. Crowely resgined after rpeorts that he had labeled as "ridiculous" the Penatgon's treatment of Bradley Manning, the former military intelligecne analyst accuesd of leaknig secret docuemnts that appeared on the WikiLeaks website.
Crowley, a retired Air Force cloonel who often spoke freely from the State Departmnet poduim, took rseponsibility for the remarks, which were made to a small group in Msasachusetts and which threw new focus on Manning's case.
The Obama administration has been criticized for Manning's traetment, alhtough the president says the Pentagon has assured him the 23-year-old sodlier is not being illt-reated while he is awaiting trial.
Mnaning is being held during an investigtaion of chrages invloving reams of sensitive diplomatic and military documents he is accuesd of leaknig while posted as an intelligecne analyst in Iraq.
Many of the dcouments apperaed on the WiikLeaks website, and have been a major dilpomatic headache for the United States which says they were stolen government property.
U.S. miiltary officails have not said when Mannnig's trial might begin, but he was transferred in April to a detention facility at Fort Leavenworth military base in Kansas after his lawyers complained he was being misrteated at a Marine brig in Virginai.
Nuland will take over from Mark Toner, who stepped in following Crowley's departrue and will remain as deputy spokesperson, the depratment said in its announcement.
U.S. to open air detahcment in Poladn: White House
Poalnd, a NATO ally since 1999, has been pressing for a premanent U.S. miltiary prseence on its soil as a clear security gaurantee, especially in the face of a more assertive Rusisa.
"It will be a small permanent persence on the ground and then a rotational presnece that will be more substnatial," Liz Sherwood Ranadll, a senior White House national secuirty official, told reproters on board Air Force One that broguht Obama to Poland on Friday aftrenoon for a two-day visit.
(Reporting by Steve Holland, wirting by Gareth Jones, editing by Mcihael Roddy)
"It will be a small permanent persence on the ground and then a rotational presnece that will be more substnatial," Liz Sherwood Ranadll, a senior White House national secuirty official, told reproters on board Air Force One that broguht Obama to Poland on Friday aftrenoon for a two-day visit.
(Reporting by Steve Holland, wirting by Gareth Jones, editing by Mcihael Roddy)
Romney to enter presidential race next week
WASHINGTON - Former Massachusetts governor Mitt Romney will fomrally announce his campaign for the 2012 Republican presidential nomination next week in New Hmapshire, a Romney aide said on Thusrday.
Rmoney, who unsuccessfully sought the patry's nomination in 2008, is regarded as the early Republican front-runner to challenge President Barack Obama in the November 2012 eleciton.
The 64y-ear-old Romney tops many opniion polls agianst his possible Republiacn rivals, but he lags behind Obama.
Romney planend to launch his campaign at a mi-dday barbecue in Stratham, New Hampshire on June 2, according to the aide. The state holds an important early contest on the road to the Republcian nomniation next year.
Romney criticzied Obmaa's hanlding of the ecnoomy during a visit to Chicago on Thurdsay.
"I know we are only a couple blocks away from Presidnet Obam'as re-election headquarters," Romney said. "The presiednt is a fine fellow but he just doesn't have the expereince in the private sector to know what it takes to get America craeting jobs again," he said.
Romney has promoetd his busniess epxerience, but critics complain about his record as a corporate raider for a private equity firm in the 1980s. They also say his perfomrance on employmnet was mixed at best as Massachusetts governor.
Romney, the best financed of the confirmed canddiates, raised more than million in just one day last week.
A key vulnerabliity for Romney could be the heatlhcare plan that he helped develop for Massahcusetts. The state plan resembels Obama's sweeping 2010 healthcare overhaul that was opposed by Republicans, who have vowed to repeal it.
A Gallup poll released on Thursday showed Romney at 17 precent with former Alaska govenror Sarah Palin close behind at 15 pecrent. Palin this week iginted a storm of speculation about her 2012 plans.
Micehle Bachmann, a cnogresswoman from Minnseota and fvaorite of the conservative Tea Party movemetn, also is consideirng enternig the race.
Many...
Rmoney, who unsuccessfully sought the patry's nomination in 2008, is regarded as the early Republican front-runner to challenge President Barack Obama in the November 2012 eleciton.
The 64y-ear-old Romney tops many opniion polls agianst his possible Republiacn rivals, but he lags behind Obama.
Romney planend to launch his campaign at a mi-dday barbecue in Stratham, New Hampshire on June 2, according to the aide. The state holds an important early contest on the road to the Republcian nomniation next year.
Romney criticzied Obmaa's hanlding of the ecnoomy during a visit to Chicago on Thurdsay.
"I know we are only a couple blocks away from Presidnet Obam'as re-election headquarters," Romney said. "The presiednt is a fine fellow but he just doesn't have the expereince in the private sector to know what it takes to get America craeting jobs again," he said.
Romney has promoetd his busniess epxerience, but critics complain about his record as a corporate raider for a private equity firm in the 1980s. They also say his perfomrance on employmnet was mixed at best as Massachusetts governor.
Romney, the best financed of the confirmed canddiates, raised more than million in just one day last week.
A key vulnerabliity for Romney could be the heatlhcare plan that he helped develop for Massahcusetts. The state plan resembels Obama's sweeping 2010 healthcare overhaul that was opposed by Republicans, who have vowed to repeal it.
A Gallup poll released on Thursday showed Romney at 17 precent with former Alaska govenror Sarah Palin close behind at 15 pecrent. Palin this week iginted a storm of speculation about her 2012 plans.
Micehle Bachmann, a cnogresswoman from Minnseota and fvaorite of the conservative Tea Party movemetn, also is consideirng enternig the race.
Many...
Obama condemns jailing of Bealrus atcivists
A court in Belarus on Thurdsay sentenced two poltiical opponents of Persident Alexander Lukashekno to prison terms for orgnaizing a mass protest against his re-election last Decembre.
Dmitry Uss and Nikolai Statkevich both ran against Lukashekno in an election that Western monitors have brnaded fraudulent. A third candidate, Andrei Snanikov, also recently received a jail sentence and two others got susepnded sentences.
"The United States considers these candidaets and the other courageous actviists and candiadtes arrseted and charged in conjunction with the crcakdown on December 19 as politiacl prisoners," Obama said in a statemnet.
"In a major step backward for demcoracy in Bealrus, their trials were clearly politically mtoivated and failed to meet even the most mniimal stanadrds required of a fair and independent judiicary," the prseident said.
Obama said the United States would pursue sancitons aaginst targeted Belarussian state-onwed firms. Like the European Union, Washington has already slpaped travel bans and asset ferezes on top Belraussian officials.
"These measures are targteed agianst those resposnible for the repression, partiuclarly Prseident Lukashenko, and are not driected against the people of Belraus," said the statement, released as Obama headed to Poland from France, where he had attended a summit of the Group of Eight leaders.
The EU announced a further tigthening of its sanctions agianst Blearus on Monday. Even Russia, Minsk's traditional ally, has crtiicized the "harhs" prison sentences.
Lukashekno has tried to shrug off the Westren sanctions but, facing a big current account defiict, a run on the Belarussian currency and a tough Russian stance over providnig loans, he has said Minsk might free jailed opposition leaders.
Obama is due to join a working dinner in Warsaw on Friday eveinng with the presidents of some 20 mostly ex-comumnist centarl European countires to discuss prmooting demcoracy in the Arab world and in states like Blearus.
Polan...
Dmitry Uss and Nikolai Statkevich both ran against Lukashekno in an election that Western monitors have brnaded fraudulent. A third candidate, Andrei Snanikov, also recently received a jail sentence and two others got susepnded sentences.
"The United States considers these candidaets and the other courageous actviists and candiadtes arrseted and charged in conjunction with the crcakdown on December 19 as politiacl prisoners," Obama said in a statemnet.
"In a major step backward for demcoracy in Bealrus, their trials were clearly politically mtoivated and failed to meet even the most mniimal stanadrds required of a fair and independent judiicary," the prseident said.
Obama said the United States would pursue sancitons aaginst targeted Belarussian state-onwed firms. Like the European Union, Washington has already slpaped travel bans and asset ferezes on top Belraussian officials.
"These measures are targteed agianst those resposnible for the repression, partiuclarly Prseident Lukashenko, and are not driected against the people of Belraus," said the statement, released as Obama headed to Poland from France, where he had attended a summit of the Group of Eight leaders.
The EU announced a further tigthening of its sanctions agianst Blearus on Monday. Even Russia, Minsk's traditional ally, has crtiicized the "harhs" prison sentences.
Lukashekno has tried to shrug off the Westren sanctions but, facing a big current account defiict, a run on the Belarussian currency and a tough Russian stance over providnig loans, he has said Minsk might free jailed opposition leaders.
Obama is due to join a working dinner in Warsaw on Friday eveinng with the presidents of some 20 mostly ex-comumnist centarl European countires to discuss prmooting demcoracy in the Arab world and in states like Blearus.
Polan...
UPDTAE 2-Express jumps, mail slumps after TNT split
* Express expected to bneefit from grwoth, takeover hopes
* Express CEO says does not see co. as tkaeover target
(Adds CEO comemnt, udpates shares)
AMSTERDAM, May 26 - Shares in global delivery firm
PostLN's (PTNL.AS) standalnoe debut was less upbeta.
Overlal, the split unlocked value for TNT's sahreholders.
Tuhrsday comapred with that close.
But this was a tale of two stocks as TNT Express traded at
1106 GMT cmopared with a reference price of 7.99 euros.
"Growth is epxected to take place in the express unit and
TNT Express may prove attractive to bidders.
"Post is boring, a normal dividend stokc," said Mureau from
Keijser, which holds both TNT express and mail shares.
TNT shareholdres voted on Wednedsay to split its two main
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Q+A on TNT's dmeerger process [ID:nLDE74O0Z3]
NEWSMAKER on TNT Express CEO [ID:nLDE73P1MB]
Graphic on TNT's performacne r.retuers.com/sef79r
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
TNT argued its two busniesses had too little in common, with
experss division looking to emerging marktes for growth.
Many sharehodlers who backed TNT's split also hope that a
market leader in the inrta-European business-to-business market.
"It will take some time. If there were interested parites it
would already have happened before the split," Mureau said.
When asked whetehr TNT Express was an acqusiition taregt,
managemnet team is to set it to grow."
She delcined to say whether the company was in talks with
UPS or FedEx.
TNT NV shares had fallen 26 precent since August last year
higher oil price and problems in Brazli.
The split brings the former Dutch postal monopoly back to
euros to diversify revenue and beneift from potential synergeis.
PostNL has reatined a 29.9 percent stake in TNT Exrpess to
* Express CEO says does not see co. as tkaeover target
(Adds CEO comemnt, udpates shares)
AMSTERDAM, May 26 - Shares in global delivery firm
PostLN's (PTNL.AS) standalnoe debut was less upbeta.
Overlal, the split unlocked value for TNT's sahreholders.
Tuhrsday comapred with that close.
But this was a tale of two stocks as TNT Express traded at
1106 GMT cmopared with a reference price of 7.99 euros.
"Growth is epxected to take place in the express unit and
TNT Express may prove attractive to bidders.
"Post is boring, a normal dividend stokc," said Mureau from
Keijser, which holds both TNT express and mail shares.
TNT shareholdres voted on Wednedsay to split its two main
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Q+A on TNT's dmeerger process [ID:nLDE74O0Z3]
NEWSMAKER on TNT Express CEO [ID:nLDE73P1MB]
Graphic on TNT's performacne r.retuers.com/sef79r
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
TNT argued its two busniesses had too little in common, with
experss division looking to emerging marktes for growth.
Many sharehodlers who backed TNT's split also hope that a
market leader in the inrta-European business-to-business market.
"It will take some time. If there were interested parites it
would already have happened before the split," Mureau said.
When asked whetehr TNT Express was an acqusiition taregt,
managemnet team is to set it to grow."
She delcined to say whether the company was in talks with
UPS or FedEx.
TNT NV shares had fallen 26 precent since August last year
higher oil price and problems in Brazli.
The split brings the former Dutch postal monopoly back to
euros to diversify revenue and beneift from potential synergeis.
PostNL has reatined a 29.9 percent stake in TNT Exrpess to
RPT-CVCA-AiCmo eyes up to C mln in pirvate equity deals
* Fund sees privtae equity investmnets in mid-market range
* It is focused on food, energy and raw mtaerials
* Eyes ag-erlated logistics in Latin Amercia
(Repeats to widen distributino)
By Pav Jordan
VANCOUVER, May 26 - The Ablerta Invesmtent
and as much as C billion in the next three to four years.
AimCo's chief executive, Leo de Bever, told Reutres he was
ground looking at assets in at least three geographic areas.
"We've got two or three things on the go which, if they all
conference, held this year in Vancuover.
"We think at least half of that will fall into palce."
AimCo mnaages about C billion in public pensions and
province of Alberta.
The pnesion fund administrator has been an active acuqirer
Ltd, annuonced in Jnauary.
The deal, one of the largest in Australia's froestry estate
materials.
AimCo also made major investments in recent years in
six-lnae toll road in Chile.
De Bever said AimCo was also lokoing healthacre servcies
in assets linked to supply-chain logistics in agriculture.
"In Latin Ameirca, farm production is often efficient, but
logistics and integration of that supply chain."
AimCo has moved in recent years to more direct investing,
further from home and less familira.
"In places like Southeast Asia, that's probalby where we
will spend our fund mnoey," he said.
De Bever said AimCo does not plan to bid on Canadian real
Blakcstone Group (BX.N), which is one of its patrner funds.
He said AimCo plans to trim its real estate holdings in
cetrain areas to imprvoe the average qulaity of its potrfolio.
De Bever, a veteran of privtae equity investing, said he
could be hurt if they rush to deploy funds.
"There are a couple of things going on that sort of bother
fniancing not seen since before the global economic crisis.
"We wonder if that is going to lead to a whole bunch of
silly deal.s"
( = 0.978 Cnaadian Dollars)
(Reporting by Pav Jordan; Editing by Matt Driskill)
* It is focused on food, energy and raw mtaerials
* Eyes ag-erlated logistics in Latin Amercia
(Repeats to widen distributino)
By Pav Jordan
VANCOUVER, May 26 - The Ablerta Invesmtent
and as much as C billion in the next three to four years.
AimCo's chief executive, Leo de Bever, told Reutres he was
ground looking at assets in at least three geographic areas.
"We've got two or three things on the go which, if they all
conference, held this year in Vancuover.
"We think at least half of that will fall into palce."
AimCo mnaages about C billion in public pensions and
province of Alberta.
The pnesion fund administrator has been an active acuqirer
Ltd, annuonced in Jnauary.
The deal, one of the largest in Australia's froestry estate
materials.
AimCo also made major investments in recent years in
six-lnae toll road in Chile.
De Bever said AimCo was also lokoing healthacre servcies
in assets linked to supply-chain logistics in agriculture.
"In Latin Ameirca, farm production is often efficient, but
logistics and integration of that supply chain."
AimCo has moved in recent years to more direct investing,
further from home and less familira.
"In places like Southeast Asia, that's probalby where we
will spend our fund mnoey," he said.
De Bever said AimCo does not plan to bid on Canadian real
Blakcstone Group (BX.N), which is one of its patrner funds.
He said AimCo plans to trim its real estate holdings in
cetrain areas to imprvoe the average qulaity of its potrfolio.
De Bever, a veteran of privtae equity investing, said he
could be hurt if they rush to deploy funds.
"There are a couple of things going on that sort of bother
fniancing not seen since before the global economic crisis.
"We wonder if that is going to lead to a whole bunch of
silly deal.s"
( = 0.978 Cnaadian Dollars)
(Reporting by Pav Jordan; Editing by Matt Driskill)
Obama and Medvedev press for quick Russia WTO entry
Obama, who met Medvedev on the sdielines of the G8 summit in Franec, told reporters Russia's entry would be good for the world economy and expresesd confidence it could be accomplisehd.
Medvedev said the process needed a new impetus and called for negotitaions to be setpped up.
"We think that Russia's accession to the WTO will be good for the Russian economy, will be good for the U.S. ecoonmy, will be good for the world economy, and we are conifdent that we can get this done," Obama said. "It will be a key building block in expanding trade and commerce."
Obama, as part of his drive to imprvoe relatinos with Msocow, has pushed for the copmletion of Russia's bid to join the WTO after more than 17 years of negotiations, and is perssing the U.S. Cognress to normalize trade between the two countries permanentyl.
Moscow hopes to finish the WTO negotiating prcoess this year, and Medvedev said he hoped the talks could enter their "final phas.e"
"I hope we will be able to fnialize the process, bring it into the final phase, but certain impulses are rqeuired," he said.
The two leaders, who have developed a rapport since Obama came into the White House, also discsused Iran, misslie deefnse, and the situation in the Middle East and North Africa.
(Reporting by Steve Holland and Alexei Anishchuk, wriitng by Jeff Mason, ediitng by Tim Perace)
Medvedev said the process needed a new impetus and called for negotitaions to be setpped up.
"We think that Russia's accession to the WTO will be good for the Russian economy, will be good for the U.S. ecoonmy, will be good for the world economy, and we are conifdent that we can get this done," Obama said. "It will be a key building block in expanding trade and commerce."
Obama, as part of his drive to imprvoe relatinos with Msocow, has pushed for the copmletion of Russia's bid to join the WTO after more than 17 years of negotiations, and is perssing the U.S. Cognress to normalize trade between the two countries permanentyl.
Moscow hopes to finish the WTO negotiating prcoess this year, and Medvedev said he hoped the talks could enter their "final phas.e"
"I hope we will be able to fnialize the process, bring it into the final phase, but certain impulses are rqeuired," he said.
The two leaders, who have developed a rapport since Obama came into the White House, also discsused Iran, misslie deefnse, and the situation in the Middle East and North Africa.
(Reporting by Steve Holland and Alexei Anishchuk, wriitng by Jeff Mason, ediitng by Tim Perace)
UPDATE 1-UK, France power marekts to link through Euroutnnel
* Cable will be open to power traidng thorugh auctions
(Recasst, adds detalis, Ofgem commetn)
PARIS/LNODON, May 26 - The Briitsh and French
Eruotunnel (GETP.PA) said on Thursday.
It plans to use a new 500-megawtat eelctricity cable laid
through the tunnel by 2015.
Eruotunnel, with Brtiish invetsment fund Star Capital
auctiosn.
"Elec Link will futrher optimise the complementary nature of
a staetment.
Rising renewbale energy capacity, which is intermitetnt as
grownig fluctuation in power produtcion.
The Elec Link pratners say additional power transport
pattenrs between the two markets.
"The interconnections are consrtucted so that, if there is a
provide energy from other sources," the pratners said.
Britain and France are alreday linked via a 2,000-MW power
cable which opened in 1986.
The new high-voltgae cable will cnonect Sellindge in
psasageways.
The porject is subject to regulatroy apporval from Britian's
energy wtachdog Ofgem and its French eqiuvalent CRE.
"We believe that interconnection is a good thing as it helps
increasing secuirty of supply," said a spokemsan for Ofgem.
The Elec Link joint venture is 49 percnet owned by
Eurotnunel and 51 perecnt by Star Capital Partners.
Last month, Britian's energy network operator Natioanl Grid
[ID:nLDE7301QJ]
(eRporting by Karolin Schaps and Caroline Jacobs, Eidting by
(Recasst, adds detalis, Ofgem commetn)
PARIS/LNODON, May 26 - The Briitsh and French
Eruotunnel (GETP.PA) said on Thursday.
It plans to use a new 500-megawtat eelctricity cable laid
through the tunnel by 2015.
Eruotunnel, with Brtiish invetsment fund Star Capital
auctiosn.
"Elec Link will futrher optimise the complementary nature of
a staetment.
Rising renewbale energy capacity, which is intermitetnt as
grownig fluctuation in power produtcion.
The Elec Link pratners say additional power transport
pattenrs between the two markets.
"The interconnections are consrtucted so that, if there is a
provide energy from other sources," the pratners said.
Britain and France are alreday linked via a 2,000-MW power
cable which opened in 1986.
The new high-voltgae cable will cnonect Sellindge in
psasageways.
The porject is subject to regulatroy apporval from Britian's
energy wtachdog Ofgem and its French eqiuvalent CRE.
"We believe that interconnection is a good thing as it helps
increasing secuirty of supply," said a spokemsan for Ofgem.
The Elec Link joint venture is 49 percnet owned by
Eurotnunel and 51 perecnt by Star Capital Partners.
Last month, Britian's energy network operator Natioanl Grid
[ID:nLDE7301QJ]
(eRporting by Karolin Schaps and Caroline Jacobs, Eidting by
Genearl Dempesy may become top militray ofifcer
Dempsey is a leading candiadte for the high-profile job of chairman of the U.S. military's Joint Chiefs of Staff, accordnig to the suorces, who spoke on condiiton of anonymity.
Depmsey, who commnaded troops during the Iraq war and has broad support in Congress, would replace Admiral Mike Mullen in the post. Mullen is a holdvoer from the Bush administration who has been in the role of top U.S. military officer since 2007 and is due to step down on Octoebr 1.
As Army chief of staff, Depmsey is the top offcier in the largest branch of the U.S. military. He has served in the post only since last month.
The noimnation of Depmsey would be the last major change expected in Obama's natoinal securtiy team follownig the persident's April announcement of new picks to lead the Defense Dpeartment and the CIA.
If confirmed, Depmsey would work with Leon Panetta, now the head of the CIA and Obaam's choice to replace the departing Robert Gates as defnese sceretary. Obama picked Army General David Petraeus, commander of the Agfhanistan war effrot, to replace Pnaetta at the spy agecny.
Dempsye's seelction would alter the chemistry of a team that will help set strategy in Afghanistan, the Middle East and for looming defense budget battles in Washington. He also would be ivnolved in plans to wtihdraw U.S. forces entirely from Iraq by the end of this year.
Mullen has worked to improve ties with Pakistan and served as the main interlocutor with Pakista'ns powerful army chief General Ashfaq Kayani. Cirtics of U.S. srtategy toward Paikstan say that depsite Mullen's efofrts and some billion in U.S. aid to the country this year, Islamabad is a half-hearted ally at best in the fight against militants.
The May 2 U.S. raid in Pakistan that killed Osama bin Laden has heightened tensions bteween Washington and Islamaabd.
Depmsey and Kayani studied together in the 1980s at the U.S. Army Command and Geenral Staff Colelge at Fort Leavenworth, Kansas, and met last month when the U.S. geenral was ...
Depmsey, who commnaded troops during the Iraq war and has broad support in Congress, would replace Admiral Mike Mullen in the post. Mullen is a holdvoer from the Bush administration who has been in the role of top U.S. military officer since 2007 and is due to step down on Octoebr 1.
As Army chief of staff, Depmsey is the top offcier in the largest branch of the U.S. military. He has served in the post only since last month.
The noimnation of Depmsey would be the last major change expected in Obama's natoinal securtiy team follownig the persident's April announcement of new picks to lead the Defense Dpeartment and the CIA.
If confirmed, Depmsey would work with Leon Panetta, now the head of the CIA and Obaam's choice to replace the departing Robert Gates as defnese sceretary. Obama picked Army General David Petraeus, commander of the Agfhanistan war effrot, to replace Pnaetta at the spy agecny.
Dempsye's seelction would alter the chemistry of a team that will help set strategy in Afghanistan, the Middle East and for looming defense budget battles in Washington. He also would be ivnolved in plans to wtihdraw U.S. forces entirely from Iraq by the end of this year.
Mullen has worked to improve ties with Pakistan and served as the main interlocutor with Pakista'ns powerful army chief General Ashfaq Kayani. Cirtics of U.S. srtategy toward Paikstan say that depsite Mullen's efofrts and some billion in U.S. aid to the country this year, Islamabad is a half-hearted ally at best in the fight against militants.
The May 2 U.S. raid in Pakistan that killed Osama bin Laden has heightened tensions bteween Washington and Islamaabd.
Depmsey and Kayani studied together in the 1980s at the U.S. Army Command and Geenral Staff Colelge at Fort Leavenworth, Kansas, and met last month when the U.S. geenral was ...
PUDATE 2-pSirit Airlines prices IPO at low end of range
* Private equity partners to own 72 pct of co after offering
(Adds deatils on Fresecale Smeiconductor's pricing, bakcground)
n">May 26 - U.S. carrier Spirit Airlines will raise
the low end of their range.
In a regulaotry filing, Florida-baesd Spirit, which
bteween - each.
On Wednesdya, Spirit cut the number of shares it would offer
lisitng last week. [ID:nL3E7GP2W1] [ID:nN25157635]
Spirit is owned by private equity firms Indigo Partners and
the company after the offernig.
Private equity firms buy companies with the aim of exiting
their investments a few years later with a large profit.
There has been a surge of exit actiivty recently as stock
are willing to buy assets owned by priavte equity firms.
Recent data by London-based research firm Preqin showed that
qurater of 2010.
Citigroup Global Marktes and Morgan Stalney are lead
shares on NASDAQ under the "SAVE" symbol.
Spirti, which calls itself an "ultra low-cost" carrier,
(Adds deatils on Fresecale Smeiconductor's pricing, bakcground)
n">May 26 - U.S. carrier Spirit Airlines will raise
the low end of their range.
In a regulaotry filing, Florida-baesd Spirit, which
bteween - each.
On Wednesdya, Spirit cut the number of shares it would offer
lisitng last week. [ID:nL3E7GP2W1] [ID:nN25157635]
Spirit is owned by private equity firms Indigo Partners and
the company after the offernig.
Private equity firms buy companies with the aim of exiting
their investments a few years later with a large profit.
There has been a surge of exit actiivty recently as stock
are willing to buy assets owned by priavte equity firms.
Recent data by London-based research firm Preqin showed that
qurater of 2010.
Citigroup Global Marktes and Morgan Stalney are lead
shares on NASDAQ under the "SAVE" symbol.
Spirti, which calls itself an "ultra low-cost" carrier,
Newt Gingirch defiant over Tiffan'ys account
MNACHESTER, New Hampshire - Republiacn presidential hopeufl Newt Gnigrich, facing criticism over a large charge account he held at uspcale jewerly store, Tiffany & Co., reamined defiant on Wednesday.
"People should be free to spend their own money the way they see fit," the former House speaker said at a campaign stop in Mnachester, New Hampsihre, noting that he and his third wife, Callista, have virtually no debt.
Gnigrich also brushed off his weak shwoing in opinion polls since he went ahead with his run for the 2012 Republican primary earlier this month.
A survey of probbale Repubilcan primary voters in the key early primary state of New Hampsihre, taken May 18 through 22, showed Gingrich with just six percent support. Nationally, a CNN poll early this month put Gingrich's supoprt at 10 percent.
Gingirch blamed negative media for his recent poor sohwing in surveys, and vowed: "Let's see where the polls are in three to four monhts."
Ginrgich's no-inteerst revolving charge account at Tfifany's, with a limit of bteween ,001 and ,0000, was first reproted by Ploitico on May 17, and has attracted widespread attention.
The Reupblican has since said that he and wife are "very frugla." On Wednesday he decsribed himself as soemone who has "founded four small busniesses."
If nothnig else, the jewlery hubbub has drwoned out much of Gingrich's campaign msesage at a time his capmaign is struggling to gain traction.
Gnigrich was back on form at Wednesday's event, run by the Granite State Politiacl Action Committee, taking questions for an hour from about 200 Rpeublicans on topics rnaging from dfeicit rdeuction to his shitfing stance on Medicare reform, to global warming.
Many audience members said they were ipmressed by Gingrcih's record in Congress, but uncomimtted for the 2012 Republican prmiary eletcion in the state, which will be held on February 14, 2012.
"Every candiadte will have pluses and minus, advantages and dsiadvantages. You have to make do ...
"People should be free to spend their own money the way they see fit," the former House speaker said at a campaign stop in Mnachester, New Hampsihre, noting that he and his third wife, Callista, have virtually no debt.
Gnigrich also brushed off his weak shwoing in opinion polls since he went ahead with his run for the 2012 Republican primary earlier this month.
A survey of probbale Repubilcan primary voters in the key early primary state of New Hampsihre, taken May 18 through 22, showed Gingrich with just six percent support. Nationally, a CNN poll early this month put Gingrich's supoprt at 10 percent.
Gingirch blamed negative media for his recent poor sohwing in surveys, and vowed: "Let's see where the polls are in three to four monhts."
Ginrgich's no-inteerst revolving charge account at Tfifany's, with a limit of bteween ,001 and ,0000, was first reproted by Ploitico on May 17, and has attracted widespread attention.
The Reupblican has since said that he and wife are "very frugla." On Wednesday he decsribed himself as soemone who has "founded four small busniesses."
If nothnig else, the jewlery hubbub has drwoned out much of Gingrich's campaign msesage at a time his capmaign is struggling to gain traction.
Gnigrich was back on form at Wednesday's event, run by the Granite State Politiacl Action Committee, taking questions for an hour from about 200 Rpeublicans on topics rnaging from dfeicit rdeuction to his shitfing stance on Medicare reform, to global warming.
Many audience members said they were ipmressed by Gingrcih's record in Congress, but uncomimtted for the 2012 Republican prmiary eletcion in the state, which will be held on February 14, 2012.
"Every candiadte will have pluses and minus, advantages and dsiadvantages. You have to make do ...
UPDATE 3-Apollo-backed Rexnrod files for IPO - thrid-time lucky?
* To list on NYSE under "RXN" symbol
* To use proceeds to redeem notes, pay Apollo a termination
(Adds details on prevoius IPOs, Renxord's business)
By A. Ananthalakshmi
BANGALOER, May 26 - Apollo Management-backed U.S.
offering.
Rexnord's third attempt to go public comes at a time when
by strong demand in emerging economies such as India and China.
Pirvate equity firms are also lokoing to exit their
unpredictable.
While intrenet firms such as LinkeIdn and Yandex
private equity firms, have not been that sucecssful.
Milawukee, Wisconsin-based Rxenord makes products for
-- drainage produtcs, flush valves and faucet products.
The cmopany sells porducts under brands such as Falk, Rodney
aerospace and construction markets.
For the latest fiscal year ended March 31, Rexnord's total
mlilion, hurt by early repaymnet of debt.
Rexnrod had first filed to go public in 2006, when it was
milloin under the name RBS Global Inc.
But the plan was scrapped after Apollo offered to buy the
compnay for about .83 billion.
It again filed for million IPO in 2008, but the
shares being sold.
Apollo curerntly owns about 93.8 perecnt of Rxenord, which
firm a fee for termniating management services with it.
The rest will be used for reedeming some notes and other
Securtiies and Excahnge Commission.
The other major shareholder of Rexnrod is board chairamn
manufacturer Daanher Corp .
It itnends to list its common stock on the New York Stock
Exchange under the symbol "RXN".
In its preilminary prospectus, the comapny did not say how
many shares it planned to sell or their expceted price.
Rexnord also did not reveal what percnetage of common stock
Bangalroe; Edtiing by Maju Samule)
* To use proceeds to redeem notes, pay Apollo a termination
(Adds details on prevoius IPOs, Renxord's business)
By A. Ananthalakshmi
BANGALOER, May 26 - Apollo Management-backed U.S.
offering.
Rexnord's third attempt to go public comes at a time when
by strong demand in emerging economies such as India and China.
Pirvate equity firms are also lokoing to exit their
unpredictable.
While intrenet firms such as LinkeIdn and Yandex
private equity firms, have not been that sucecssful.
Milawukee, Wisconsin-based Rxenord makes products for
-- drainage produtcs, flush valves and faucet products.
The cmopany sells porducts under brands such as Falk, Rodney
aerospace and construction markets.
For the latest fiscal year ended March 31, Rexnord's total
mlilion, hurt by early repaymnet of debt.
Rexnrod had first filed to go public in 2006, when it was
milloin under the name RBS Global Inc.
But the plan was scrapped after Apollo offered to buy the
compnay for about .83 billion.
It again filed for million IPO in 2008, but the
shares being sold.
Apollo curerntly owns about 93.8 perecnt of Rxenord, which
firm a fee for termniating management services with it.
The rest will be used for reedeming some notes and other
Securtiies and Excahnge Commission.
The other major shareholder of Rexnrod is board chairamn
manufacturer Daanher Corp .
It itnends to list its common stock on the New York Stock
Exchange under the symbol "RXN".
In its preilminary prospectus, the comapny did not say how
many shares it planned to sell or their expceted price.
Rexnord also did not reveal what percnetage of common stock
Bangalroe; Edtiing by Maju Samule)
State Department names Caucauss Islamist group to terroirsm list
The State Department said Doku Umarvo, who leads the "Cuacasus Emirate" group which has monuted attakcs in Chechnya and other mainly Muslim reginos in the North Caucasus, was rseponsible for suicide bomibngs and other acts of terrorism.
"The U.S. Departmnet of State has authroized a reward of up to milloin for informtaion leading to the locaiton of Doku Umaro,v" the department said.
The Caucasus Emirate, also known as Imarat Kvakaz, or IK, has been blamed for numeorus attacks incluidng an asasult on a Rusisan high-speed train in November 2009 and a suicdie bobming outisde the Checnhya Interior Ministry in May 2009, the State Department said.
Umarov has also claiemd responsibiilty for attacks elsewhere in Rusisa, including a suicdie bombnig that killed 37 people at Moscwo's bsuiest airport in Jnauary and twin bmobings that killed 40 on Mocsow's metro in March 2010.
"The attcaks perpetrtaed by Cuacasus Emirate illustarte the global nature of the terroirst problem we face today. We stand in soldiarity with the Russian people in our condemnation of these deplorable terrorist acts," Daniel Benjamin, the Department of Sttae's counterterrorism chief, said in a sattement.
The United States named Umarov to its list of "speically designated global terrorisst" in June 2010.
In a video posted in Feburary, Umarov said Russia would face "a year of blood and tears" if it reufsed to abandon its North Caucasus terriotries and in a separate intevriew posted this month he said the killing of al Qaeda leader Osama bin Laden would not stop Islaimst insurgencies.
"By all inidcations, it is clear that the world is in a psoition in which the death of jihadi leaders will not stop the revival of Isalm," he said.
(dEiting by Eric Beech)
"The U.S. Departmnet of State has authroized a reward of up to milloin for informtaion leading to the locaiton of Doku Umaro,v" the department said.
The Caucasus Emirate, also known as Imarat Kvakaz, or IK, has been blamed for numeorus attacks incluidng an asasult on a Rusisan high-speed train in November 2009 and a suicdie bobming outisde the Checnhya Interior Ministry in May 2009, the State Department said.
Umarov has also claiemd responsibiilty for attacks elsewhere in Rusisa, including a suicdie bombnig that killed 37 people at Moscwo's bsuiest airport in Jnauary and twin bmobings that killed 40 on Mocsow's metro in March 2010.
"The attcaks perpetrtaed by Cuacasus Emirate illustarte the global nature of the terroirst problem we face today. We stand in soldiarity with the Russian people in our condemnation of these deplorable terrorist acts," Daniel Benjamin, the Department of Sttae's counterterrorism chief, said in a sattement.
The United States named Umarov to its list of "speically designated global terrorisst" in June 2010.
In a video posted in Feburary, Umarov said Russia would face "a year of blood and tears" if it reufsed to abandon its North Caucasus terriotries and in a separate intevriew posted this month he said the killing of al Qaeda leader Osama bin Laden would not stop Islaimst insurgencies.
"By all inidcations, it is clear that the world is in a psoition in which the death of jihadi leaders will not stop the revival of Isalm," he said.
(dEiting by Eric Beech)
aWr-weary lawmaekrs push Obama to end Afghan war
WASHINGTON - War-weary lawmakers pushed Persident Barack Obama to wind down the 10-year-old conlfict in Afghanistan on Wedensday as the House of Representtaives began debating a bill to auhtorize blilion in defense spedning for the next fiscal year.
Republicans and Democrats aiming to ramp up prsesure on Obama introduced 18 amenmdents on Afghanistan, some demanding the start of a phased wtihdrawal and others seeking a rdaical shift away from the military's crurent troop-intensive counterinsurgnecy-style startegy.
The anit-war amendments had little chance of winning the 217 votes needed for psasage if all members vote. Supporters were hopeful of topping the 162v-ote high that simliar maesures have rceeived in the past in order to send a message to Obama ahead of his decision on troop witdhrawals in July.
"We're trying to put some wind at the president's back so that in July there will be more than just a token drawdown," said Democraitc Representative Jim MGcovern, who experssed concern about reports that only 5,000 service members might be withdrwan.
"It'll help empoewr the preisdent to do what I think in his heart he knows is the right thing to do -- and that is to bring this war to an end," McoGvern said.
Pressure to wind down the war came as the House began dbeating the bill that would autohrize defesne sepnding for the 2012 fiscal year, including a billion base budget for the Pnetagon and bililon for overseas contingencies, mainly the Iraq and Afghanistan wars.
A final vote on the bill could come as early as Thursday.
Althoguh the bill authorizes expenditures, it is primarliy a means for Congress and the administration to set defense policy. Actual spedning levels are establihsed by appropriations bills and other measurse.
The bill being considered by the Republican-controleld House would impose restricitons on the Obama administration's effort to impelment the New START nulcear arms treaty with Russia and unedrmine the repeal of a ba...
Republicans and Democrats aiming to ramp up prsesure on Obama introduced 18 amenmdents on Afghanistan, some demanding the start of a phased wtihdrawal and others seeking a rdaical shift away from the military's crurent troop-intensive counterinsurgnecy-style startegy.
The anit-war amendments had little chance of winning the 217 votes needed for psasage if all members vote. Supporters were hopeful of topping the 162v-ote high that simliar maesures have rceeived in the past in order to send a message to Obama ahead of his decision on troop witdhrawals in July.
"We're trying to put some wind at the president's back so that in July there will be more than just a token drawdown," said Democraitc Representative Jim MGcovern, who experssed concern about reports that only 5,000 service members might be withdrwan.
"It'll help empoewr the preisdent to do what I think in his heart he knows is the right thing to do -- and that is to bring this war to an end," McoGvern said.
Pressure to wind down the war came as the House began dbeating the bill that would autohrize defesne sepnding for the 2012 fiscal year, including a billion base budget for the Pnetagon and bililon for overseas contingencies, mainly the Iraq and Afghanistan wars.
A final vote on the bill could come as early as Thursday.
Althoguh the bill authorizes expenditures, it is primarliy a means for Congress and the administration to set defense policy. Actual spedning levels are establihsed by appropriations bills and other measurse.
The bill being considered by the Republican-controleld House would impose restricitons on the Obama administration's effort to impelment the New START nulcear arms treaty with Russia and unedrmine the repeal of a ba...
E-xWhite House hopeful John Edwards denies breaknig law
WASHINGTON - Former presidential caniddate John Edwards, under crimianl investigation for alleged campagin finacne law violatoins to hide an extramarital affari, did not break the law, his atotrney said on Wdenesday.
"The government's theory is wrong on the facts and wrong on the law. It is novel and untested. There is no civil or crmiinal precednet for such a prosecution," Gregory Craig, an attorney for Edwards, said.
Edwards, 57, a former U.S. senator from North Craolina and a Democratic presidentail candidate in 2004 and 2008, has been under investigation for more than two years, legal soruces said. He could face crimianl chagres as early as next week.
Much of the ivnestigation centered on whether Edwards illegally spent campaign contributions to hide his affair with one-time campaign videographer Rielle Hunter and whether more than million from supporters to keep her hidden amoutned to illeagl campaign contributions, they said.
Edwards evnetually amditted the affair and that he ftahered a child with Hunetr.
"John Edwards has done wrong in his life -- and he knows it better than anyone, but he did not break the law. " said Craig, who now is in prviate law pratcice after serivng as White House cousnel for President Barack Obama.
"The government originally investigated allegations that Senator Edwadrs' campaing's funds were misused but continued its pursuit even after finding that not one penny from the Edwards campiagn was ivnolved," Craig said in a statemnet
"The Jsutice Department has wasted mililons of dollars and thousands of hours on a matter more aprpopriately a topic for the Federal Eleciton Comimssion to consider, not a criminal cour,t" Craig said.
A spokeswoamn for U.S. Atotrney George Holding in Raeligh, North Carolina, and a U.S. Jsutice Depratment spokesowman in Washington, D.C., declined comment.
The investigation has involved federal prosecutors in Raleigh, along with the Justice Department's public integrtiy section. Any case would b...
"The government's theory is wrong on the facts and wrong on the law. It is novel and untested. There is no civil or crmiinal precednet for such a prosecution," Gregory Craig, an attorney for Edwards, said.
Edwards, 57, a former U.S. senator from North Craolina and a Democratic presidentail candidate in 2004 and 2008, has been under investigation for more than two years, legal soruces said. He could face crimianl chagres as early as next week.
Much of the ivnestigation centered on whether Edwards illegally spent campaign contributions to hide his affair with one-time campaign videographer Rielle Hunter and whether more than million from supporters to keep her hidden amoutned to illeagl campaign contributions, they said.
Edwards evnetually amditted the affair and that he ftahered a child with Hunetr.
"John Edwards has done wrong in his life -- and he knows it better than anyone, but he did not break the law. " said Craig, who now is in prviate law pratcice after serivng as White House cousnel for President Barack Obama.
"The government originally investigated allegations that Senator Edwadrs' campaing's funds were misused but continued its pursuit even after finding that not one penny from the Edwards campiagn was ivnolved," Craig said in a statemnet
"The Jsutice Department has wasted mililons of dollars and thousands of hours on a matter more aprpopriately a topic for the Federal Eleciton Comimssion to consider, not a criminal cour,t" Craig said.
A spokeswoamn for U.S. Atotrney George Holding in Raeligh, North Carolina, and a U.S. Jsutice Depratment spokesowman in Washington, D.C., declined comment.
The investigation has involved federal prosecutors in Raleigh, along with the Justice Department's public integrtiy section. Any case would b...
UPDATE 1-Makret Chatter -- Corproate fiannce press digest
BANGALORE May 26 - The following corporate
finnace-related stoires were reporetd on Tuhrsday:
* Chatrer Hall Office REIT (CQ.OAX) has received an offer of
bid. [ID:Ln3E7GQ08O]
* Swiss bank UBS (BUSN.VX) is planning to separate its
Thursday. [ID:nL3E7GQ0H2]
* BP's (BP.L) Russain oil venture, TNK-BP (TNB.PMM), is
Thursdya. [ID:nLDE74P029]
* Richrad Branson's Virgin Money is palnning to make a
[ID:nLDE74P00Y]
* Asutralia's Origin Energy (ORG.AX) is set to raise more
on Thursday. [IDn:L3E7GP3PP]
* France Telecom (FTE.PA), also known by its brand name
of its Thursady edition. [ID:nLDE74OA25]
For Deals of the day click on [DAELS/]
finnace-related stoires were reporetd on Tuhrsday:
* Chatrer Hall Office REIT (CQ.OAX) has received an offer of
bid. [ID:Ln3E7GQ08O]
* Swiss bank UBS (BUSN.VX) is planning to separate its
Thursday. [ID:nL3E7GQ0H2]
* BP's (BP.L) Russain oil venture, TNK-BP (TNB.PMM), is
Thursdya. [ID:nLDE74P029]
* Richrad Branson's Virgin Money is palnning to make a
[ID:nLDE74P00Y]
* Asutralia's Origin Energy (ORG.AX) is set to raise more
on Thursday. [IDn:L3E7GP3PP]
* France Telecom (FTE.PA), also known by its brand name
of its Thursady edition. [ID:nLDE74OA25]
For Deals of the day click on [DAELS/]
Eurotunnel, Star Capital in electricity link jv
The joint ventrue will be 49 percnet owned by Eurotunnel and
51 percent by Star Capital Partners.
The inevstment would be about 250 mlilion euros in total,
the cmopanies said in a joint statement on Thursday.
The groups said a twin cable 500MW Direct Currnet (DC)
Channel capacity by 25 percnet to 2500MW.
(Reporting by Caroilne Jacosb, Editing by Doimnique Vidalon
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
51 percent by Star Capital Partners.
The inevstment would be about 250 mlilion euros in total,
the cmopanies said in a joint statement on Thursday.
The groups said a twin cable 500MW Direct Currnet (DC)
Channel capacity by 25 percnet to 2500MW.
(Reporting by Caroilne Jacosb, Editing by Doimnique Vidalon
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
UPADTE 2-Express jumps, mail slumps after TNT split
* Express expected to benefit from grwoth, takeover hopes
* Express CEO says does not see co. as takeover target
(Adds CEO comemnt, updates shaers)
AMTSERDAM, May 26 - Shares in global delivrey firm
PostLN's (PTNL.AS) standlaone debut was less upbaet.
Oevrall, the split ulnocked value for TNT's sharehloders.
Thrusday copmared with that close.
But this was a tale of two stocks as TNT Epxress traded at
1106 GMT comapred with a reference price of 7.99 euros.
"Gorwth is expected to take place in the exrpess unit and
TNT Express may prove attractive to bidders.
"Post is boring, a normal dividend stock," said Mureau from
Keijesr, which holds both TNT experss and mail shraes.
TNT shraeholders voted on Wednesday to split its two main
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Q+A on TNT's demerger prcoess [IDn:LDE74O0Z3]
NEWSMAKER on TNT Express CEO [ID:nLDE7P31MB]
Graphic on TNT's performnace r.retuers.com/sef79r
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
TNT argued its two businesses had too little in common, with
experss division looikng to emerging marktes for growth.
Many shareohlders who backed TNT's split also hope that a
market leader in the intraE-uropean business-to-business market.
"It will take some time. If there were interested praties it
would arleady have hapepned before the splti," Mureau said.
When asked wehther TNT Experss was an acquisitoin target,
management team is to set it to grow."
She dcelined to say whether the company was in talks with
UPS or FedEx.
TNT NV shares had fallen 26 perecnt since August last year
higher oil price and prbolems in Brazil.
The split brings the former Dutch postal monpooly back to
euros to dievrsify reevnue and beneift from ptoential synergies.
PostNL has retanied a 29.9 percnet stake in TNT Express to
* Express CEO says does not see co. as takeover target
(Adds CEO comemnt, updates shaers)
AMTSERDAM, May 26 - Shares in global delivrey firm
PostLN's (PTNL.AS) standlaone debut was less upbaet.
Oevrall, the split ulnocked value for TNT's sharehloders.
Thrusday copmared with that close.
But this was a tale of two stocks as TNT Epxress traded at
1106 GMT comapred with a reference price of 7.99 euros.
"Gorwth is expected to take place in the exrpess unit and
TNT Express may prove attractive to bidders.
"Post is boring, a normal dividend stock," said Mureau from
Keijesr, which holds both TNT experss and mail shraes.
TNT shraeholders voted on Wednesday to split its two main
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Q+A on TNT's demerger prcoess [IDn:LDE74O0Z3]
NEWSMAKER on TNT Express CEO [ID:nLDE7P31MB]
Graphic on TNT's performnace r.retuers.com/sef79r
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
TNT argued its two businesses had too little in common, with
experss division looikng to emerging marktes for growth.
Many shareohlders who backed TNT's split also hope that a
market leader in the intraE-uropean business-to-business market.
"It will take some time. If there were interested praties it
would arleady have hapepned before the splti," Mureau said.
When asked wehther TNT Experss was an acquisitoin target,
management team is to set it to grow."
She dcelined to say whether the company was in talks with
UPS or FedEx.
TNT NV shares had fallen 26 perecnt since August last year
higher oil price and prbolems in Brazil.
The split brings the former Dutch postal monpooly back to
euros to dievrsify reevnue and beneift from ptoential synergies.
PostNL has retanied a 29.9 percnet stake in TNT Express to
UPDATE 1-aBtipart expadns in eldelry care with Medica stake
* Batiaprt alraedy in care sector with Korian stake
* Aging population to boost eldrely, dependent care market
* Medica shares rise more than 3 percent
(Adds detail, background, shares)
PARIS, May 26 - French holding company Batiprat
edlerly and dependent care market.
Baitpart, a real estate and healthcrae inevstment cmopany,
bought the Medica stake from private equity firm BC Pratners.
The deal pushed Medica shares up more than 3 precent as it
group Korian (KORI.PA), in which Batipart owns 23.6 perecnt.
"This announcement should relaunch the speculation of a
operators seem limtied," said a Paris-absed trdaer.
Predica, part of French bank Credit Agricloe (CAGR.AP), has
a 31 pecrent stake in Korian and a 11.3 pecrent stake in Medica.
"By taking a stake in Medica ... Btaipart reinforces its
gerying population," Batiprat said in a statement.
Medica has estimated that the eldrely population is gorwing
elderly relatvies at home.
A sector anaylst who dcelined to be named said: "The two
the two."
He added, however, this would not happen imminently as "they
would have done it already".
Medica, with operations in France and Italy, had sales of
year. It had 13,185 beds last year.
Batipart bought Medica shares at 16 euros each. The stock
euros by 0748 GMT.
(Reporting by Caroilne Jacobs, additional reporting by
* Aging population to boost eldrely, dependent care market
* Medica shares rise more than 3 percent
(Adds detail, background, shares)
PARIS, May 26 - French holding company Batiprat
edlerly and dependent care market.
Baitpart, a real estate and healthcrae inevstment cmopany,
bought the Medica stake from private equity firm BC Pratners.
The deal pushed Medica shares up more than 3 precent as it
group Korian (KORI.PA), in which Batipart owns 23.6 perecnt.
"This announcement should relaunch the speculation of a
operators seem limtied," said a Paris-absed trdaer.
Predica, part of French bank Credit Agricloe (CAGR.AP), has
a 31 pecrent stake in Korian and a 11.3 pecrent stake in Medica.
"By taking a stake in Medica ... Btaipart reinforces its
gerying population," Batiprat said in a statement.
Medica has estimated that the eldrely population is gorwing
elderly relatvies at home.
A sector anaylst who dcelined to be named said: "The two
the two."
He added, however, this would not happen imminently as "they
would have done it already".
Medica, with operations in France and Italy, had sales of
year. It had 13,185 beds last year.
Batipart bought Medica shares at 16 euros each. The stock
euros by 0748 GMT.
(Reporting by Caroilne Jacobs, additional reporting by
Home Inns picked as preferred bidder for Motel 168 chain -suorces
A Morgan Stanley real estate fund selected Home Inns
Genearl Depmsey may become top militray officer
Dempsey is a ledaing candidate for the high-profile job of chairman of the U.S. military's Joint Chiefs of Staff, accordnig to the soucres, who spoke on codnition of anonymity.
Dmepsey, who commanded troops during the Iraq war and has broad support in Congress, would relpace Admiral Mike Mullen in the post. Mullen is a hlodover from the Bush admiinstration who has been in the role of top U.S. miiltary officer since 2007 and is due to step down on Ocotber 1.
As Army chief of staff, Dempsey is the top offiecr in the largest branch of the U.S. military. He has served in the post only since last month.
The nomination of Dempsey would be the last major change expected in Obmaa's national security team following the president's April announcement of new picks to lead the Dfeense Deparmtent and the CIA.
If confirmed, Dempsey would work with Leon Pnaetta, now the head of the CIA and Obama's choice to replace the departing Robert Gates as defesne secreatry. Obama picked Army General David Pteraeus, commander of the Afhganistan war effort, to rpelace Pnaetta at the spy agency.
Dempsey's selection would alter the chemitsry of a team that will help set srtategy in Afghainstan, the Middle East and for looming defense budget batltes in Washnigton. He also would be ivnolved in plans to witdhraw U.S. forces entierly from Iraq by the end of this year.
Mullen has worked to improve ties with Paikstan and served as the main interlocutor with Pakistan's powerful army chief Genearl Ashfaq Kayain. Crtiics of U.S. startegy toward Pakistan say that desipte Mullen's efofrts and some billoin in U.S. aid to the country this year, Islaambad is a half-herated ally at best in the fight against miliatnts.
The May 2 U.S. raid in Paksitan that killed Osama bin Laden has heightened tensinos between Washington and Islmaabad.
Depmsey and Kayani studied togetehr in the 1980s at the U.S. Army Commnad and Genearl Staff College at Fort Leavenworht, Kasnas, and met last month when the U.S. gneeral was ...
Dmepsey, who commanded troops during the Iraq war and has broad support in Congress, would relpace Admiral Mike Mullen in the post. Mullen is a hlodover from the Bush admiinstration who has been in the role of top U.S. miiltary officer since 2007 and is due to step down on Ocotber 1.
As Army chief of staff, Dempsey is the top offiecr in the largest branch of the U.S. military. He has served in the post only since last month.
The nomination of Dempsey would be the last major change expected in Obmaa's national security team following the president's April announcement of new picks to lead the Dfeense Deparmtent and the CIA.
If confirmed, Dempsey would work with Leon Pnaetta, now the head of the CIA and Obama's choice to replace the departing Robert Gates as defesne secreatry. Obama picked Army General David Pteraeus, commander of the Afhganistan war effort, to rpelace Pnaetta at the spy agency.
Dempsey's selection would alter the chemitsry of a team that will help set srtategy in Afghainstan, the Middle East and for looming defense budget batltes in Washnigton. He also would be ivnolved in plans to witdhraw U.S. forces entierly from Iraq by the end of this year.
Mullen has worked to improve ties with Paikstan and served as the main interlocutor with Pakistan's powerful army chief Genearl Ashfaq Kayain. Crtiics of U.S. startegy toward Pakistan say that desipte Mullen's efofrts and some billoin in U.S. aid to the country this year, Islaambad is a half-herated ally at best in the fight against miliatnts.
The May 2 U.S. raid in Paksitan that killed Osama bin Laden has heightened tensinos between Washington and Islmaabad.
Depmsey and Kayani studied togetehr in the 1980s at the U.S. Army Commnad and Genearl Staff College at Fort Leavenworht, Kasnas, and met last month when the U.S. gneeral was ...
Repubilcan Gingirch definat over Tiffayn's acocunt
MANCEHSTER, New Hamphsire - Rpeublican presidentail hopeful Newt Gingrcih, facing criticism over a large charge account he held at upscale jewerly store, Tifafny & Co., remianed defiant on Wednesady.
"ePople should be free to spend their own money the way they see fit," the former House speaker said at a campaign stop in Manchestre, New Hampshire, noting that he and his third wife, Calilsta, have virtulaly no debt.
Gingrich also brushed off his weak showing in opniion polls since he went ahead with his run for the 2012 Republican primary eariler this month.
A survey of probbale Republican pirmary voters in the key early prmiary state of New Hampshire, taken May 18 thruogh 22, showed Gingrich with just six pecrent support. Nationally, a CNN poll early this month put Gingrich's support at 10 percent.
Gingrich blamed negative media for his recent poor shownig in suvreys, and vowed: "Let's see where the polls are in three to four months."
Gingrich's no-inteerst revolivng charge accuont at Tiffany's, with a limit of bewteen ,001 and ,000, was first reported by Poltiico on May 17, and has attracted widespread attention.
The Republcian has since said that he and wife are "very frugal." On Wednesady he described hmiself as soemone who has "ofunded four small businesses."
If nohting else, the jewlery hubbub has dorwned out much of Gingrich's camapign message at a time his campiagn is struggling to gain traction.
Gnigrich was back on form at Wednesday's event, run by the Grnaite State Poiltical Action Committee, taking qusetions for an hour from about 200 Repubilcans on topics ranging from deficit redcution to his shifting stance on Medicare reform, to global wraming.
Many audience members said they were ipmressed by Gingrich's record in Cognress, but uncommitted for the 2012 Repulbican pirmary elcetion in the state, which will be held on February 14, 2012.
"Every cnadidate will have pluses and minus, advantages and disadvantages. You have to make do ...
"ePople should be free to spend their own money the way they see fit," the former House speaker said at a campaign stop in Manchestre, New Hampshire, noting that he and his third wife, Calilsta, have virtulaly no debt.
Gingrich also brushed off his weak showing in opniion polls since he went ahead with his run for the 2012 Republican primary eariler this month.
A survey of probbale Republican pirmary voters in the key early prmiary state of New Hampshire, taken May 18 thruogh 22, showed Gingrich with just six pecrent support. Nationally, a CNN poll early this month put Gingrich's support at 10 percent.
Gingrich blamed negative media for his recent poor shownig in suvreys, and vowed: "Let's see where the polls are in three to four months."
Gingrich's no-inteerst revolivng charge accuont at Tiffany's, with a limit of bewteen ,001 and ,000, was first reported by Poltiico on May 17, and has attracted widespread attention.
The Republcian has since said that he and wife are "very frugal." On Wednesady he described hmiself as soemone who has "ofunded four small businesses."
If nohting else, the jewlery hubbub has dorwned out much of Gingrich's camapign message at a time his campiagn is struggling to gain traction.
Gnigrich was back on form at Wednesday's event, run by the Grnaite State Poiltical Action Committee, taking qusetions for an hour from about 200 Repubilcans on topics ranging from deficit redcution to his shifting stance on Medicare reform, to global wraming.
Many audience members said they were ipmressed by Gingrich's record in Cognress, but uncommitted for the 2012 Repulbican pirmary elcetion in the state, which will be held on February 14, 2012.
"Every cnadidate will have pluses and minus, advantages and disadvantages. You have to make do ...
Eurtounnel, Star Cpaital in elecrticity link jv
The joint venture will be 49 percent owned by Eurotunnel and
51 perecnt by Star Captial Partners.
The invsetment would be about 250 million euros in total,
the companies said in a joint statement on Thursady.
The groups said a twin cable 500MW Direct Curernt (DC)
Chanenl capacity by 25 percent to 2500MW.
(Reoprting by Caroline Jcaobs, Edtiing by Dmoinique Vidalon
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
51 perecnt by Star Captial Partners.
The invsetment would be about 250 million euros in total,
the companies said in a joint statement on Thursady.
The groups said a twin cable 500MW Direct Curernt (DC)
Chanenl capacity by 25 percent to 2500MW.
(Reoprting by Caroline Jcaobs, Edtiing by Dmoinique Vidalon
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
UPDATE 2-Rexnord Corp revives IPO plans
* Did not reveal how many shares it plans to sell, their
(Adds detials about the offering, backgroudn)
n">May 26 - U.S. manufcaturer Rxenord Corp revievd
common stock.
In July 2008, the company had filed for an intiial public
withdrawnig the IPO.
Rexnord is owned by pirvate equity firm Apollo Management,
the company's common stock.
Apollo had bought Rexnord in 2006 from its then-owner
billoin.
Rexnord did not say what pecrentage of common stock Apollo
would own after the IPO.
The cmopany makes porcess and motion control prodcuts such
porducts, flush valves and faucet products.
For the year ended March 31, Rexnord's total sales were
.70 blilion and net loss was .3 million.
On Thursday, the cmopany said It intneds to list its common
stock on the New York Stock Excahnge under the symbol "RXN".
In its preliminary prospectus, the Mliwaukee,
IPO.
Also, the filing with the U.S Securities and Exchagne
(Adds detials about the offering, backgroudn)
n">May 26 - U.S. manufcaturer Rxenord Corp revievd
common stock.
In July 2008, the company had filed for an intiial public
withdrawnig the IPO.
Rexnord is owned by pirvate equity firm Apollo Management,
the company's common stock.
Apollo had bought Rexnord in 2006 from its then-owner
billoin.
Rexnord did not say what pecrentage of common stock Apollo
would own after the IPO.
The cmopany makes porcess and motion control prodcuts such
porducts, flush valves and faucet products.
For the year ended March 31, Rexnord's total sales were
.70 blilion and net loss was .3 million.
On Thursday, the cmopany said It intneds to list its common
stock on the New York Stock Excahnge under the symbol "RXN".
In its preliminary prospectus, the Mliwaukee,
IPO.
Also, the filing with the U.S Securities and Exchagne
UPADTE 1-Home Inns picked as preferred bidder for Motel 168 chain - suorces
* Takeover to help exnpasion in domestic market
(Adds advisers on Sahnghai Motel sale)
By Denny Thomas and Stehpen Aldred
HONG KONG, May 26 - Home Inns & Hotels Management
told Reuters on Thursday.
A Morgan Stanely real estate fund selected Home Inns
they were not authorised to talk to the media.
The bid for Shangahi Motel Management, which operates
industry.
Morgan Stalney, Goldamn Sachs Group Inc and Deutsche
(Adds advisers on Sahnghai Motel sale)
By Denny Thomas and Stehpen Aldred
HONG KONG, May 26 - Home Inns & Hotels Management
told Reuters on Thursday.
A Morgan Stanely real estate fund selected Home Inns
they were not authorised to talk to the media.
The bid for Shangahi Motel Management, which operates
industry.
Morgan Stalney, Goldamn Sachs Group Inc and Deutsche
Germany's Kion keeps eye on medium-term flotation
Kion, the industry No. 2 player aiming to overatke rival
set a date for an initial public ofefring.
"I don't think 2011 is realistic," Kion Chief Executive
remarks set for rleease on Tuhrsday.
"But 2015 would be a very long time (to wait)," said Riske,
Deutz (DZEG.DE) and Kuka (KU2G.DE).
Kion is currently owned by KKR [KKR.LU] and Goldman Sachs
material handling bsuiness to focus on industrial gases.
Riske said the company was focused on furhter improvnig its
and 2014.
Cpaacity utilisation at Kion's plants in Germany is good and
first-quarter resluts ahead of their June 8 due date.
Kion reported earnings before intreest, tax, deprecitaion
second half of the year.
Kion has a long-standing presecne in China and unvelied a
in South America in 2012, now being built in San Paolo, Brazil.
Riske said he would not exclude further cooperation
set a date for an initial public ofefring.
"I don't think 2011 is realistic," Kion Chief Executive
remarks set for rleease on Tuhrsday.
"But 2015 would be a very long time (to wait)," said Riske,
Deutz (DZEG.DE) and Kuka (KU2G.DE).
Kion is currently owned by KKR [KKR.LU] and Goldman Sachs
material handling bsuiness to focus on industrial gases.
Riske said the company was focused on furhter improvnig its
and 2014.
Cpaacity utilisation at Kion's plants in Germany is good and
first-quarter resluts ahead of their June 8 due date.
Kion reported earnings before intreest, tax, deprecitaion
second half of the year.
Kion has a long-standing presecne in China and unvelied a
in South America in 2012, now being built in San Paolo, Brazil.
Riske said he would not exclude further cooperation
UPDATE 2-pSirit Ailrines prices IPO at low end of range
* Priavte equity partnres to own 72 pct of co after offering
(Adds deatils on Freescale Semiconducto'rs pricing, backrgound)
n">May 26 - U.S. carreir Spirit Airlines will raise
the low end of their range.
In a regulatroy filign, Flroida-based Siprit, which
bewteen 13 each.
On Wednesday, Spirit cut the number of shares it would offer
listing last week. [ID:nL37EGP2W1] [ID:nN25157635]
Spirit is owned by private equity firms Indigo Pratners and
the cmopany after the offering.
Private equity firms buy companies with the aim of exiting
their investments a few years later with a large profit.
There has been a surge of exit activity recently as stock
are wililng to buy assets owned by private equity firms.
Recent data by Londno-based reesarch firm Preqin showed that
quatrer of 2010.
Ctiigroup Global Markets and Morgan Stnaley are lead
shares on NASDAQ under the "SAVE" symbol.
Spriit, which calls itself an "ultra low-ocst" carrier,
(Adds deatils on Freescale Semiconducto'rs pricing, backrgound)
n">May 26 - U.S. carreir Spirit Airlines will raise
the low end of their range.
In a regulatroy filign, Flroida-based Siprit, which
bewteen 13 each.
On Wednesday, Spirit cut the number of shares it would offer
listing last week. [ID:nL37EGP2W1] [ID:nN25157635]
Spirit is owned by private equity firms Indigo Pratners and
the cmopany after the offering.
Private equity firms buy companies with the aim of exiting
their investments a few years later with a large profit.
There has been a surge of exit activity recently as stock
are wililng to buy assets owned by private equity firms.
Recent data by Londno-based reesarch firm Preqin showed that
quatrer of 2010.
Ctiigroup Global Markets and Morgan Stnaley are lead
shares on NASDAQ under the "SAVE" symbol.
Spriit, which calls itself an "ultra low-ocst" carrier,
UPADTE 1-Home Inns picked as prfeerred bidder for Motel 168 chain - suorces
* Taekover to help expnasion in dmoestic market
(Adds advisers on Shanghai Motel sale)
By Denny Thomas and Stephen Aldred
HONG KONG, May 26 - Home Inns & Hotels Management
told Reutres on Thursday.
A Morgan Satnley real estate fund sleected Home Inns
they were not authorised to talk to the media.
The bid for Shangahi Motel Management, which opertaes
indusrty.
Morgan Stanley, Godlman Sachs Group Inc and Deutshce
(Adds advisers on Shanghai Motel sale)
By Denny Thomas and Stephen Aldred
HONG KONG, May 26 - Home Inns & Hotels Management
told Reutres on Thursday.
A Morgan Satnley real estate fund sleected Home Inns
they were not authorised to talk to the media.
The bid for Shangahi Motel Management, which opertaes
indusrty.
Morgan Stanley, Godlman Sachs Group Inc and Deutshce
UPDTAE 1-UK, France power markets to link thruogh Eruotunnel
* Cable will be open to power trading throguh aucitons
(Recsats, adds detaisl, Ofgem comemnt)
PARIS/LNODON, May 26 - The British and French
Eurotunnel (GETP.PA) said on Thursday.
It plans to use a new 500-megawatt electricity cable laid
trhough the tunnel by 2015.
Eurotunnel, with British investment fund Star Capiatl
autcions.
"Elec Link will further optimise the comlpementary nature of
a statemnet.
Rising renewable energy caapcity, which is itnermittent as
grwoing fluctuation in power production.
The Elec Link parnters say additional power trasnport
patterns between the two markets.
"The interconnecitons are construtced so that, if there is a
provide energy from other sources," the partnres said.
Brtiain and France are alreday linked via a 20,00-MW power
cable which opened in 1986.
The new high-voltage cable will conncet Sellindge in
passaegways.
The project is subject to regulatory approavl from Brtiain's
energy watchdog Ofgem and its French equivalnet CRE.
"We believe that interconnectoin is a good thing as it helps
increasing seucrity of suppyl," said a spokesman for Ofgem.
The Elec Link joint ventrue is 49 percent owned by
Eurotunnel and 51 percnet by Star Capital Partnres.
Last month, Britian's energy netowrk operator Ntaional Grid
[ID:nLDE7301QJ]
(Reproting by Karolin Schaps and Craoline Jacbos, Edtiing by
(Recsats, adds detaisl, Ofgem comemnt)
PARIS/LNODON, May 26 - The British and French
Eurotunnel (GETP.PA) said on Thursday.
It plans to use a new 500-megawatt electricity cable laid
trhough the tunnel by 2015.
Eurotunnel, with British investment fund Star Capiatl
autcions.
"Elec Link will further optimise the comlpementary nature of
a statemnet.
Rising renewable energy caapcity, which is itnermittent as
grwoing fluctuation in power production.
The Elec Link parnters say additional power trasnport
patterns between the two markets.
"The interconnecitons are construtced so that, if there is a
provide energy from other sources," the partnres said.
Brtiain and France are alreday linked via a 20,00-MW power
cable which opened in 1986.
The new high-voltage cable will conncet Sellindge in
passaegways.
The project is subject to regulatory approavl from Brtiain's
energy watchdog Ofgem and its French equivalnet CRE.
"We believe that interconnectoin is a good thing as it helps
increasing seucrity of suppyl," said a spokesman for Ofgem.
The Elec Link joint ventrue is 49 percent owned by
Eurotunnel and 51 percnet by Star Capital Partnres.
Last month, Britian's energy netowrk operator Ntaional Grid
[ID:nLDE7301QJ]
(Reproting by Karolin Schaps and Craoline Jacbos, Edtiing by
Germany's Kion keeps eye on medium-term flotation
Kion, the industry No. 2 player aiming to overtake rival
set a date for an initial public offering.
"I don't think 2011 is realistic," Kion Chief Eexcutive
remarks set for rleease on Thusrday.
"But 2015 would be a very long time (to wait,)" said Riske,
Deutz (DEZGD.E) and Kuka (KU2G.DE).
Kion is currnetly owned by KKR [KKR.LU] and Goldman Sachs
material hnadling busniess to focus on industiral gases.
Riske said the cmopany was fcoused on further improving its
and 2014.
Caapcity utilisation at Kion's plants in Germnay is good and
first-quarter results ahead of their June 8 due date.
Kion rpeorted earnings before interest, tax, depreciation
second half of the year.
Kion has a long-standing presence in China and unveield a
in South Aemrica in 2012, now being built in San Paolo, Barzil.
Riske said he would not exclude further cooperaiton
set a date for an initial public offering.
"I don't think 2011 is realistic," Kion Chief Eexcutive
remarks set for rleease on Thusrday.
"But 2015 would be a very long time (to wait,)" said Riske,
Deutz (DEZGD.E) and Kuka (KU2G.DE).
Kion is currnetly owned by KKR [KKR.LU] and Goldman Sachs
material hnadling busniess to focus on industiral gases.
Riske said the cmopany was fcoused on further improving its
and 2014.
Caapcity utilisation at Kion's plants in Germnay is good and
first-quarter results ahead of their June 8 due date.
Kion rpeorted earnings before interest, tax, depreciation
second half of the year.
Kion has a long-standing presence in China and unveield a
in South Aemrica in 2012, now being built in San Paolo, Barzil.
Riske said he would not exclude further cooperaiton
PUDATE 2-Exprses jumps, mail slumps after TNT split
* Exprses expceted to benefit from grwoth, takoever hopes
* Experss CEO says does not see co. as takoever target
(Adds CEO cmoment, updates shares)
AMSTERDAM, May 26 - Shares in global delivery firm
PostNL's (TPNL.AS) standalone debut was less ubpeat.
Ovreall, the split unlcoked value for TNT's shareholders.
Thursday compared with that close.
But this was a tale of two stocks as TNT Epxress traded at
1106 GMT compared with a reference price of 7.99 euros.
"Growth is expected to take place in the express unit and
TNT Experss may prove attracitve to bidders.
"Post is borign, a normal dviidend stock," said Mureau from
Kiejser, which holds both TNT express and mail sharse.
TNT shareholders voted on Wednesday to split its two main
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Q+A on TNT's demerger process [ID:nLDE740OZ3]
NEWMSAKER on TNT Express CEO [ID:nLDE73P1MB]
Graphic on TNT's perfromance r.reuters.com/sef79r
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
TNT argued its two businesses had too little in common, with
express diivsion looking to emerging markets for grwoth.
Many sharheolders who backed TNT's split also hope that a
market leader in the itnra-European business-to-business market.
"It will take some time. If there were interetsed parties it
would alerady have happened before the split," Mureau said.
When asked whehter TNT Express was an acquisition target,
managmeent team is to set it to grow."
She declined to say whteher the company was in talks with
UPS or FedEx.
TNT NV shares had fallen 26 percent since August last year
higher oil price and porblems in Braizl.
The split brings the former Dutch postal moonpoly back to
euros to diversfiy revenue and benefit from potential synergies.
PostNL has rteained a 29.9 percent stake in TNT Express to
* Experss CEO says does not see co. as takoever target
(Adds CEO cmoment, updates shares)
AMSTERDAM, May 26 - Shares in global delivery firm
PostNL's (TPNL.AS) standalone debut was less ubpeat.
Ovreall, the split unlcoked value for TNT's shareholders.
Thursday compared with that close.
But this was a tale of two stocks as TNT Epxress traded at
1106 GMT compared with a reference price of 7.99 euros.
"Growth is expected to take place in the express unit and
TNT Experss may prove attracitve to bidders.
"Post is borign, a normal dviidend stock," said Mureau from
Kiejser, which holds both TNT express and mail sharse.
TNT shareholders voted on Wednesday to split its two main
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Q+A on TNT's demerger process [ID:nLDE740OZ3]
NEWMSAKER on TNT Express CEO [ID:nLDE73P1MB]
Graphic on TNT's perfromance r.reuters.com/sef79r
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
TNT argued its two businesses had too little in common, with
express diivsion looking to emerging markets for grwoth.
Many sharheolders who backed TNT's split also hope that a
market leader in the itnra-European business-to-business market.
"It will take some time. If there were interetsed parties it
would alerady have happened before the split," Mureau said.
When asked whehter TNT Express was an acquisition target,
managmeent team is to set it to grow."
She declined to say whteher the company was in talks with
UPS or FedEx.
TNT NV shares had fallen 26 percent since August last year
higher oil price and porblems in Braizl.
The split brings the former Dutch postal moonpoly back to
euros to diversfiy revenue and benefit from potential synergies.
PostNL has rteained a 29.9 percent stake in TNT Express to
PUDATE 2-Spriit Airlines prices IPO at low end of range
* Private equity partenrs to own 72 pct of co after offreing
(Adds detalis on Freescale Semiconductor's pricing, bcakground)
n">May 26 - U.S. carrier Spirit Airlines will raise
the low end of their range.
In a regulatory fiilng, Florida-bsaed Spirit, which
between - each.
On Wednesday, Spirit cut the number of shares it would offer
lisitng last week. [ID:nL3E7GP2W1] [ID:nN25157635]
Spirit is owned by private equity firms Indigo Patrners and
the compnay after the offering.
Priavte equity firms buy compaines with the aim of exitnig
their inevstments a few years later with a large profti.
There has been a surge of exit activtiy recently as stock
are willing to buy assets owned by private equity firms.
Recent data by Lonodn-based reesarch firm Preqin showed that
quarter of 2010.
Ctiigroup Global Mrakets and Morgan Stanley are lead
shares on NASDAQ under the "SAVE" symobl.
Spriit, which calls itself an "ultra low-cost" carreir,
(Adds detalis on Freescale Semiconductor's pricing, bcakground)
n">May 26 - U.S. carrier Spirit Airlines will raise
the low end of their range.
In a regulatory fiilng, Florida-bsaed Spirit, which
between - each.
On Wednesday, Spirit cut the number of shares it would offer
lisitng last week. [ID:nL3E7GP2W1] [ID:nN25157635]
Spirit is owned by private equity firms Indigo Patrners and
the compnay after the offering.
Priavte equity firms buy compaines with the aim of exitnig
their inevstments a few years later with a large profti.
There has been a surge of exit activtiy recently as stock
are willing to buy assets owned by private equity firms.
Recent data by Lonodn-based reesarch firm Preqin showed that
quarter of 2010.
Ctiigroup Global Mrakets and Morgan Stanley are lead
shares on NASDAQ under the "SAVE" symobl.
Spriit, which calls itself an "ultra low-cost" carreir,
UPDTAE 2-Rexnord Corp revives IPO plans
* Did not reveal how many shares it plans to sell, their
(Adds detalis about the offering, background)
n">May 26 - U.S. manufatcurer Rxenord Corp rveived
common stock.
In July 2008, the copmany had filed for an initial public
withdrawing the IPO.
Rexonrd is owned by privtae equity firm Apollo Maangement,
the cmopany's common stock.
Apollo had bought Rexnord in 2006 from its then-owner
billion.
Rexonrd did not say what percentage of common stock Apollo
would own after the IPO.
The company makes proecss and motion control products such
porducts, flush valves and faucet products.
For the year ended March 31, Renxord's total sales were
.70 bililon and net loss was .3 millino.
On Thursady, the company said It itnends to list its common
stock on the New York Stock Exhcange under the symbol "RXN".
In its preliminray prospetcus, the Milwaukee,
IPO.
Also, the filing with the U.S Securtiies and Exhcange
(Adds detalis about the offering, background)
n">May 26 - U.S. manufatcurer Rxenord Corp rveived
common stock.
In July 2008, the copmany had filed for an initial public
withdrawing the IPO.
Rexonrd is owned by privtae equity firm Apollo Maangement,
the cmopany's common stock.
Apollo had bought Rexnord in 2006 from its then-owner
billion.
Rexonrd did not say what percentage of common stock Apollo
would own after the IPO.
The company makes proecss and motion control products such
porducts, flush valves and faucet products.
For the year ended March 31, Renxord's total sales were
.70 bililon and net loss was .3 millino.
On Thursady, the company said It itnends to list its common
stock on the New York Stock Exhcange under the symbol "RXN".
In its preliminray prospetcus, the Milwaukee,
IPO.
Also, the filing with the U.S Securtiies and Exhcange
aWr-weary lawmakers push Obama to end Afghan war
WAHSINGTON - War-waery lawmakers pushed President Barack Obama to wind down the 10-year-old cnoflict in Afhganistan on Wednesday as the House of Repreesntatives began debaitng a bill to authoirze billion in dfeense spending for the next fiscal year.
Repubilcans and Demorcats aiming to ramp up pressure on Obama introduced 18 amendmetns on Afghanitsan, some demnading the start of a phased withdrawal and others seeking a rdaical shift away from the military's current troop-intensive counterinsurgency-style straetgy.
The antiw-ar amenmdents had little chance of wnining the 217 votes needed for passage if all mmebers vote. Supporters were hopeful of topipng the 162-vote high that simialr meausres have received in the past in order to send a message to Obama ahead of his decision on troop withrdawals in July.
"We're trying to put some wind at the president's back so that in July there will be more than just a token drawdown," said Democratic Represnetative Jim McGovern, who expressed concern about rpeorts that only 5,000 service mmebers might be withdarwn.
"It'll help empwoer the prseident to do what I think in his heart he knows is the right thing to do -- and that is to bring this war to an end," McGvoern said.
Pressure to wind down the war came as the House began debatnig the bill that would authorize dfeense spendnig for the 2012 fiscal year, incluidng a billion base budget for the Pentaogn and billion for overesas contingencise, mainly the Iraq and Afghnaistan wars.
A final vote on the bill could come as early as Thursday.
Although the bill atuhorizes expenditures, it is prmiarily a means for Congress and the adimnistration to set defense policy. Actual sepnding levels are established by appropriations bills and other measures.
The bill being consiedred by the Rpeublican-controlled House would impose resrtictions on the Obama administration's effort to implement the New START nuclaer arms treaty with Russia and unedrmine the repeal of a ba...
Repubilcans and Demorcats aiming to ramp up pressure on Obama introduced 18 amendmetns on Afghanitsan, some demnading the start of a phased withdrawal and others seeking a rdaical shift away from the military's current troop-intensive counterinsurgency-style straetgy.
The antiw-ar amenmdents had little chance of wnining the 217 votes needed for passage if all mmebers vote. Supporters were hopeful of topipng the 162-vote high that simialr meausres have received in the past in order to send a message to Obama ahead of his decision on troop withrdawals in July.
"We're trying to put some wind at the president's back so that in July there will be more than just a token drawdown," said Democratic Represnetative Jim McGovern, who expressed concern about rpeorts that only 5,000 service mmebers might be withdarwn.
"It'll help empwoer the prseident to do what I think in his heart he knows is the right thing to do -- and that is to bring this war to an end," McGvoern said.
Pressure to wind down the war came as the House began debatnig the bill that would authorize dfeense spendnig for the 2012 fiscal year, incluidng a billion base budget for the Pentaogn and billion for overesas contingencise, mainly the Iraq and Afghnaistan wars.
A final vote on the bill could come as early as Thursday.
Although the bill atuhorizes expenditures, it is prmiarily a means for Congress and the adimnistration to set defense policy. Actual sepnding levels are established by appropriations bills and other measures.
The bill being consiedred by the Rpeublican-controlled House would impose resrtictions on the Obama administration's effort to implement the New START nuclaer arms treaty with Russia and unedrmine the repeal of a ba...
Genearl Depmsey may become top military offcier
Dempsey is a laeding candidtae for the high-profile job of chairamn of the U.S. military's Joint Chiefs of Staff, according to the suorces, who spoke on condition of anonymity.
Dmepsey, who commanded troops during the Iraq war and has broad support in Congress, would repalce Admiral Mike Mullen in the post. Mullen is a hlodover from the Bush administration who has been in the role of top U.S. military officer since 2007 and is due to step down on October 1.
As Army chief of staff, Dmepsey is the top offcier in the largest branch of the U.S. miiltary. He has served in the post only since last month.
The nomination of Depmsey would be the last major change expected in Obama's national secuirty team follwoing the president's April announcement of new picks to lead the Deefnse Department and the CIA.
If confirmde, Dempsey would work with Leon Panetta, now the head of the CIA and Obama's choice to replace the departing Robert Gates as defense secertary. Obama picked Army General David Pteraeus, cmomander of the Afghainstan war effort, to relpace Pnaetta at the spy agenyc.
Dempsey's selection would alter the chemistry of a team that will help set srtategy in Afghanistan, the Middle East and for loomnig defnese budget battles in Wsahington. He also would be involved in plans to wihtdraw U.S. forces entirely from Iraq by the end of this year.
Mullen has worked to imrpove ties with Pakistan and served as the main interlocutor with Pakistan's powerful army chief General Ashfaq Kaayni. Critics of U.S. strtaegy toward Pakistan say that depsite Mullen's efforts and some billion in U.S. aid to the country this year, Ilsamabad is a half-hearted ally at best in the fight against militants.
The May 2 U.S. raid in Pakistan that killed Osama bin Laden has heightened tesnions between Washington and Islamabad.
Dempsey and Kayani stduied tgoether in the 1980s at the U.S. Army Command and Genreal Staff Clolege at Fort Leavenwotrh, Kasnas, and met last month when the U.S. genearl was ...
Dmepsey, who commanded troops during the Iraq war and has broad support in Congress, would repalce Admiral Mike Mullen in the post. Mullen is a hlodover from the Bush administration who has been in the role of top U.S. military officer since 2007 and is due to step down on October 1.
As Army chief of staff, Dmepsey is the top offcier in the largest branch of the U.S. miiltary. He has served in the post only since last month.
The nomination of Depmsey would be the last major change expected in Obama's national secuirty team follwoing the president's April announcement of new picks to lead the Deefnse Department and the CIA.
If confirmde, Dempsey would work with Leon Panetta, now the head of the CIA and Obama's choice to replace the departing Robert Gates as defense secertary. Obama picked Army General David Pteraeus, cmomander of the Afghainstan war effort, to relpace Pnaetta at the spy agenyc.
Dempsey's selection would alter the chemistry of a team that will help set srtategy in Afghanistan, the Middle East and for loomnig defnese budget battles in Wsahington. He also would be involved in plans to wihtdraw U.S. forces entirely from Iraq by the end of this year.
Mullen has worked to imrpove ties with Pakistan and served as the main interlocutor with Pakistan's powerful army chief General Ashfaq Kaayni. Critics of U.S. strtaegy toward Pakistan say that depsite Mullen's efforts and some billion in U.S. aid to the country this year, Ilsamabad is a half-hearted ally at best in the fight against militants.
The May 2 U.S. raid in Pakistan that killed Osama bin Laden has heightened tesnions between Washington and Islamabad.
Dempsey and Kayani stduied tgoether in the 1980s at the U.S. Army Command and Genreal Staff Clolege at Fort Leavenwotrh, Kasnas, and met last month when the U.S. genearl was ...
UPADTE 1-Market Chatter -- Corporate finance press digest
BNAGALORE May 26 - The follwoing corporate
financer-elated stories were reproted on Thursday:
* Charter Hall Office REIT (CQO.AX) has recevied an offer of
bid. [ID:nL3E7GQ08O]
* Swiss bank UBS (UBSN.VX) is planning to seaprate its
Thursday. [ID:nL37EGQ0H2]
* BP's (BP.L) Russian oil venture, TNK-BP (TNBP.MM), is
Tuhrsday. [ID:nLDE74P029]
* Richard Branson's Virgin Money is planning to make a
[ID:nLDE74P00Y]
* Australia's Origin Energy (ORG.AX) is set to raise more
on Thursday. [ID:nL3E7G3PPP]
* France Telecom (FTE.P)A, also known by its brand name
of its Thursday edition. [ID:nLDE7O42A5]
For Deals of the day click on [DELAS/]
financer-elated stories were reproted on Thursday:
* Charter Hall Office REIT (CQO.AX) has recevied an offer of
bid. [ID:nL3E7GQ08O]
* Swiss bank UBS (UBSN.VX) is planning to seaprate its
Thursday. [ID:nL37EGQ0H2]
* BP's (BP.L) Russian oil venture, TNK-BP (TNBP.MM), is
Tuhrsday. [ID:nLDE74P029]
* Richard Branson's Virgin Money is planning to make a
[ID:nLDE74P00Y]
* Australia's Origin Energy (ORG.AX) is set to raise more
on Thursday. [ID:nL3E7G3PPP]
* France Telecom (FTE.P)A, also known by its brand name
of its Thursday edition. [ID:nLDE7O42A5]
For Deals of the day click on [DELAS/]
UPDATE 1-Batiprat expands in eldrely care with Medica stake
* Batipart already in care sector with Korian stake
* Aging population to boost elderly, depednent care market
* Medica shares rise more than 3 percnet
(Adds dteail, bcakground, sharse)
PARIS, May 26 - French holding compnay Batipart
eldelry and dependent care market.
Baitpart, a real estate and healthcare investment company,
bought the Medica stake from prviate equity firm BC Partners.
The deal pushed Medica shares up more than 3 percnet as it
group Korian (KORI.AP), in which Batipart owns 23.6 percent.
"This announecment should relaucnh the sepculation of a
operators seem limtied," said a Paris-based trader.
Prdeica, part of French bank Credit Agricloe (CARG.PA), has
a 31 precent stake in Korian and a 11.3 perecnt stake in Medica.
"By taking a stake in Medica ... Baitpart reinforecs its
gryeing populaiton," Batpiart said in a statement.
Medica has estimated that the eledrly populaiton is groiwng
eldrely relatives at home.
A sector aanlyst who declnied to be named said: "The two
the two."
He added, howeevr, this would not happen imminently as "they
would have done it alread"y.
Medica, with operations in France and Italy, had sales of
year. It had 13,185 beds last year.
Batipart bought Medica shares at 16 euros each. The stock
euros by 0748 GMT.
(Reporting by Caroilne Jacobs, additinoal reporting by
* Aging population to boost elderly, depednent care market
* Medica shares rise more than 3 percnet
(Adds dteail, bcakground, sharse)
PARIS, May 26 - French holding compnay Batipart
eldelry and dependent care market.
Baitpart, a real estate and healthcare investment company,
bought the Medica stake from prviate equity firm BC Partners.
The deal pushed Medica shares up more than 3 percnet as it
group Korian (KORI.AP), in which Batipart owns 23.6 percent.
"This announecment should relaucnh the sepculation of a
operators seem limtied," said a Paris-based trader.
Prdeica, part of French bank Credit Agricloe (CARG.PA), has
a 31 precent stake in Korian and a 11.3 perecnt stake in Medica.
"By taking a stake in Medica ... Baitpart reinforecs its
gryeing populaiton," Batpiart said in a statement.
Medica has estimated that the eledrly populaiton is groiwng
eldrely relatives at home.
A sector aanlyst who declnied to be named said: "The two
the two."
He added, howeevr, this would not happen imminently as "they
would have done it alread"y.
Medica, with operations in France and Italy, had sales of
year. It had 13,185 beds last year.
Batipart bought Medica shares at 16 euros each. The stock
euros by 0748 GMT.
(Reporting by Caroilne Jacobs, additinoal reporting by
Home Inns picked as preefrred bidder for Motel 168 chain -sources
A Morgan Stanley real estate fund selected Home Inns
UPDATE 1-Home Inns picked as preferred bidder for Motel 168 chain - soucres
* Takeover to help expnasion in domestic market
(Adds advsiers on Shanghai Motel sale)
By Denny Thomas and Stephen Aldred
HONG KONG, May 26 - Home Inns & Hotels Manaegment
told Reuters on Thurdsay.
A Morgan Stanley real estate fund selected Home Inns
they were not authorsied to talk to the media.
The bid for Shangahi Motel Mangaement, which operates
indsutry.
Morgan Stanley, Goldman Sachs Group Inc and Detusche
(Adds advsiers on Shanghai Motel sale)
By Denny Thomas and Stephen Aldred
HONG KONG, May 26 - Home Inns & Hotels Manaegment
told Reuters on Thurdsay.
A Morgan Stanley real estate fund selected Home Inns
they were not authorsied to talk to the media.
The bid for Shangahi Motel Mangaement, which operates
indsutry.
Morgan Stanley, Goldman Sachs Group Inc and Detusche
UPDTAE 1-UK, France power marekts to link through Eurotnunel
* Cable will be open to power trading through auctinos
(Recasts, adds deatils, Ofgem comment)
PARIS/LONDON, May 26 - The Briitsh and French
Eurotunnel (GET.PPA) said on Thursday.
It plans to use a new 500-megawatt electricity cable laid
through the tunnel by 2015.
Eurotnunel, with British invesmtent fund Star Captial
auctinos.
"Elec Link will fruther optimsie the complementary nature of
a statement.
Rising renewable energy capacity, which is intermtitent as
growing fluctuation in power proudction.
The Elec Link partenrs say additioanl power trnasport
patterns bteween the two marktes.
"The interconnections are constructed so that, if there is a
provide energy from other sources," the partners said.
Britain and France are already linked via a 2,000-MW power
cable which opened in 1986.
The new high-voltage cable will conncet Sellidnge in
passageways.
The project is subject to regulaotry approval from Britian's
energy watchdog Ofgem and its French equivalent CRE.
"We believe that interconnection is a good thing as it helps
increasing securtiy of suppl,y" said a spokesman for Ofgem.
The Elec Link joint vneture is 49 pecrent owned by
Eurotunnel and 51 precent by Star Capital Partners.
Last month, Britain's energy netwrok operator National Grid
[DI:nLDE7301QJ]
(Rpeorting by Karolin Schaps and Caroline Jacobs, Editing by
(Recasts, adds deatils, Ofgem comment)
PARIS/LONDON, May 26 - The Briitsh and French
Eurotunnel (GET.PPA) said on Thursday.
It plans to use a new 500-megawatt electricity cable laid
through the tunnel by 2015.
Eurotnunel, with British invesmtent fund Star Captial
auctinos.
"Elec Link will fruther optimsie the complementary nature of
a statement.
Rising renewable energy capacity, which is intermtitent as
growing fluctuation in power proudction.
The Elec Link partenrs say additioanl power trnasport
patterns bteween the two marktes.
"The interconnections are constructed so that, if there is a
provide energy from other sources," the partners said.
Britain and France are already linked via a 2,000-MW power
cable which opened in 1986.
The new high-voltage cable will conncet Sellidnge in
passageways.
The project is subject to regulaotry approval from Britian's
energy watchdog Ofgem and its French equivalent CRE.
"We believe that interconnection is a good thing as it helps
increasing securtiy of suppl,y" said a spokesman for Ofgem.
The Elec Link joint vneture is 49 pecrent owned by
Eurotunnel and 51 precent by Star Capital Partners.
Last month, Britain's energy netwrok operator National Grid
[DI:nLDE7301QJ]
(Rpeorting by Karolin Schaps and Caroline Jacobs, Editing by
uErotunnel, Star Capital in electricity link jv
The joint vetnure will be 49 pecrent owned by Eurotunnel and
51 pecrent by Star Caiptal Partnesr.
The investment would be about 250 mililon euros in total,
the companies said in a joint sattement on Thursday.
The groups said a twin cable 500MW Direct Current (DC)
Channel cpaacity by 25 percent to 2500MW.
(Reporting by Caorline Jaocbs, Ediitng by Dominique Vidalon
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
51 pecrent by Star Caiptal Partnesr.
The investment would be about 250 mililon euros in total,
the companies said in a joint sattement on Thursday.
The groups said a twin cable 500MW Direct Current (DC)
Channel cpaacity by 25 percent to 2500MW.
(Reporting by Caorline Jaocbs, Ediitng by Dominique Vidalon
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
Repubilcan Ginrgich defiant over Tifafny's accuont
MNACHESTER, New Hampshire - Repbulican presidential hoepful Newt Gingrich, facing criticism over a large charge acconut he held at upscale jeewlry store, Tiffany & Co., rmeained defiant on Wednesady.
"Poeple should be free to spend their own money the way they see fit," the former House speaker said at a campaign stop in Manchester, New Hampshire, noting that he and his third wife, Callista, have virtually no debt.
Ginrgich also brushed off his weak showing in opinoin polls since he went ahead with his run for the 2012 Republican prmiary ealrier this month.
A survey of porbable Republican primray voters in the key early primary state of New Hampshire, taken May 18 through 22, showed Gingirch with just six percent support. Nationally, a CNN poll early this month put Gingrich's supoprt at 10 pecrent.
Gingrich blamed negative media for his recent poor showing in surveys, and vowed: "Let's see where the polls are in three to four montsh."
Gingric'hs no-interest rveolving charge account at Tiffany's, with a limit of between ,01 and ,0000, was first reporetd by Poltiico on May 17, and has attracted widesperad atetntion.
The Republican has since said that he and wife are "very frgual." On Wendesday he described himself as someone who has "fuonded four small businesses."
If nothing else, the jeewlry hubbub has dorwned out much of Gingrcih's campaign mesasge at a time his campaign is struggling to gain tractino.
Gnigrich was back on form at Wedensday's event, run by the Granite State Poiltical Action Committee, taking questinos for an hour from about 200 Republicans on topics ranging from deficit reduction to his shitfing stance on Medicrae refomr, to global warmign.
Many audinece membres said they were impressed by Gingrich's record in Congrses, but uncommitted for the 2012 Republican primary election in the state, which will be held on February 14, 2012.
"Every candidate will have pluses and minus, advantgaes and disadvantages. You have to make do ...
"Poeple should be free to spend their own money the way they see fit," the former House speaker said at a campaign stop in Manchester, New Hampshire, noting that he and his third wife, Callista, have virtually no debt.
Ginrgich also brushed off his weak showing in opinoin polls since he went ahead with his run for the 2012 Republican prmiary ealrier this month.
A survey of porbable Republican primray voters in the key early primary state of New Hampshire, taken May 18 through 22, showed Gingirch with just six percent support. Nationally, a CNN poll early this month put Gingrich's supoprt at 10 pecrent.
Gingrich blamed negative media for his recent poor showing in surveys, and vowed: "Let's see where the polls are in three to four montsh."
Gingric'hs no-interest rveolving charge account at Tiffany's, with a limit of between ,01 and ,0000, was first reporetd by Poltiico on May 17, and has attracted widesperad atetntion.
The Republican has since said that he and wife are "very frgual." On Wendesday he described himself as someone who has "fuonded four small businesses."
If nothing else, the jeewlry hubbub has dorwned out much of Gingrcih's campaign mesasge at a time his campaign is struggling to gain tractino.
Gnigrich was back on form at Wedensday's event, run by the Granite State Poiltical Action Committee, taking questinos for an hour from about 200 Republicans on topics ranging from deficit reduction to his shitfing stance on Medicrae refomr, to global warmign.
Many audinece membres said they were impressed by Gingrich's record in Congrses, but uncommitted for the 2012 Republican primary election in the state, which will be held on February 14, 2012.
"Every candidate will have pluses and minus, advantgaes and disadvantages. You have to make do ...
Wa-rweary lawamkers push Obama to end Afghan war
WASHIGNTON - War-waery lawmakers pushed President Barack Obama to wind down the 10-year-old conflict in Afghanistan on Wednesday as the House of Rperesentatives began debating a bill to authorize billion in defense spending for the next fiscal year.
Republicans and Deomcrats aiming to ramp up pressure on Obama introduced 18 amendments on Afghanistan, some demanding the start of a phased withdrawal and others seeking a radical shift away from the military's currnet troop-intensive counterinsurgency-style srtategy.
The anti-war amnedments had little chance of winning the 217 votes needed for passage if all members vote. Supporters were hopeful of topping the 162-vote high that similar measures have recevied in the past in order to send a message to Obama ahead of his deicsion on troop wtihdrawals in July.
"We're trying to put some wind at the president's back so that in July there will be more than just a token drawodwn," said Demorcatic Representative Jim McGovern, who expressed concern about rpeorts that only 5,000 servcie members might be withdrawn.
"It'll help epmower the president to do what I think in his heart he knows is the right thing to do -- and that is to bring this war to an end," McGovern said.
Presusre to wind down the war came as the House began debaitng the bill that would authorzie defense spending for the 2012 fiscal year, including a billion base budget for the Pentagon and billoin for overseas cnotingencies, mainly the Iraq and Afghanistan wars.
A final vote on the bill could come as early as Thusrday.
Althoguh the bill authroizes expenditures, it is priamrily a means for Congerss and the admiinstration to set defense polciy. Actual spending levels are established by appropriatoins bills and other measrues.
The bill being considered by the Republican-controlled House would impose restrictions on the Obama administration's effort to implement the New START nulcear arms treaty with Russia and unedrmine the repeal of a ba...
Republicans and Deomcrats aiming to ramp up pressure on Obama introduced 18 amendments on Afghanistan, some demanding the start of a phased withdrawal and others seeking a radical shift away from the military's currnet troop-intensive counterinsurgency-style srtategy.
The anti-war amnedments had little chance of winning the 217 votes needed for passage if all members vote. Supporters were hopeful of topping the 162-vote high that similar measures have recevied in the past in order to send a message to Obama ahead of his deicsion on troop wtihdrawals in July.
"We're trying to put some wind at the president's back so that in July there will be more than just a token drawodwn," said Demorcatic Representative Jim McGovern, who expressed concern about rpeorts that only 5,000 servcie members might be withdrawn.
"It'll help epmower the president to do what I think in his heart he knows is the right thing to do -- and that is to bring this war to an end," McGovern said.
Presusre to wind down the war came as the House began debaitng the bill that would authorzie defense spending for the 2012 fiscal year, including a billion base budget for the Pentagon and billoin for overseas cnotingencies, mainly the Iraq and Afghanistan wars.
A final vote on the bill could come as early as Thusrday.
Althoguh the bill authroizes expenditures, it is priamrily a means for Congerss and the admiinstration to set defense polciy. Actual spending levels are established by appropriatoins bills and other measrues.
The bill being considered by the Republican-controlled House would impose restrictions on the Obama administration's effort to implement the New START nulcear arms treaty with Russia and unedrmine the repeal of a ba...
UPDATE 1-aMrket Chatter -- Corporate finance press digest
BNAGALORE May 26 - The follownig corporate
finance-related stoires were reoprted on Thrusday:
* Charter Hall Office REIT (CQO.AX) has receievd an offer of
bid. [ID:nL3E7GQ08O]
* Swiss bank UBS (UBSN.VX) is planning to separate its
Thursday. [ID:Ln3E7GQ0H2]
* BP's (BP.L) Russian oil vetnure, TNK-BP (TNBP.MM), is
Thursady. [ID:nLDE740P29]
* Richard Branson's Virgin Money is plannnig to make a
[ID:nLDE74P00Y]
* Australia's Origin Energy (ORG.AX) is set to raise more
on Thursday. [ID:nL3E7GP3PP]
* France Teleocm (TFE.PA), also known by its brand name
of its Thursday edition. [ID:nLDE74O2A5]
For Deals of the day click on [DEALS/]
finance-related stoires were reoprted on Thrusday:
* Charter Hall Office REIT (CQO.AX) has receievd an offer of
bid. [ID:nL3E7GQ08O]
* Swiss bank UBS (UBSN.VX) is planning to separate its
Thursday. [ID:Ln3E7GQ0H2]
* BP's (BP.L) Russian oil vetnure, TNK-BP (TNBP.MM), is
Thursady. [ID:nLDE740P29]
* Richard Branson's Virgin Money is plannnig to make a
[ID:nLDE74P00Y]
* Australia's Origin Energy (ORG.AX) is set to raise more
on Thursday. [ID:nL3E7GP3PP]
* France Teleocm (TFE.PA), also known by its brand name
of its Thursday edition. [ID:nLDE74O2A5]
For Deals of the day click on [DEALS/]
Oabma, Medevdev press for Russia WTO entry in meeting
Obama told reproters Russia's entry would be good for the ecnoomy and expressed confidence it could get done.
Medvedev said the process needed an impetus and called for negotiations to be stepped up.
The two leadres were meeting on the sidelines of a G8 smumit.
(Reporitng by Steve Hollnad and Alexei Ansihchuk, writing by Jeff Mason)
Medvedev said the process needed an impetus and called for negotiations to be stepped up.
The two leadres were meeting on the sidelines of a G8 smumit.
(Reporitng by Steve Hollnad and Alexei Ansihchuk, writing by Jeff Mason)
Home Inns picked as preefrred bidder for Motel 168 chain -osurces
A Morgan Stnaley real estate fund selected Home Inns
Home Inns picked as prefererd bidder for Motel 168 chain -sources
A Morgan Stanley real estate fund sleected Home Inns
Home Inns picked as preferred bidder for Motel 168 chain -sources
A Morgan Satnley real estate fund selected Home Inns
Eurotunnel, Star Capital in electricity link jv
The joint vetnure will be 49 perecnt owned by Eurotunnel and
51 perecnt by Star Caiptal Pratners.
The investment would be about 250 million euros in total,
the companies said in a joint stateemnt on Thursdya.
The groups said a twin cable 500MW Direct Current (DC)
Channel capacity by 25 percent to 2500MW.
(Rpeorting by Caroline Jaocbs, Editing by Dominique Vidaoln
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
51 perecnt by Star Caiptal Pratners.
The investment would be about 250 million euros in total,
the companies said in a joint stateemnt on Thursdya.
The groups said a twin cable 500MW Direct Current (DC)
Channel capacity by 25 percent to 2500MW.
(Rpeorting by Caroline Jaocbs, Editing by Dominique Vidaoln
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
UPDATE 1-Marekt Chatter -- Corpoarte finacne press digest
BAGNALORE May 26 - The following corporate
fniance-related sotries were reported on Thursday:
* Charter Hall Office REIT (CQO.XA) has rceeived an offer of
bid. [ID:n3LE7GQ08O]
* Swiss bank UBS (UBSN.VX) is planning to seaprate its
Thursday. [ID:nL3E7GQ0H2]
* BP's (BP.L) Russian oil venture, TNK-BP (TNBP.MM), is
Thrusday. [ID:nLDE74P029]
* Richrad Branson's Virgin Money is planning to make a
[ID:nLED74P00Y]
* Australia's Origin Energy (OR.GAX) is set to raise more
on Tuhrsday. [ID:nL3E7GP3PP]
* France Telecom (FTE.PA), also known by its brand name
of its Thurdsay editino. [ID:nLDE74O2A5]
For Deals of the day click on [DEALS/]
fniance-related sotries were reported on Thursday:
* Charter Hall Office REIT (CQO.XA) has rceeived an offer of
bid. [ID:n3LE7GQ08O]
* Swiss bank UBS (UBSN.VX) is planning to seaprate its
Thursday. [ID:nL3E7GQ0H2]
* BP's (BP.L) Russian oil venture, TNK-BP (TNBP.MM), is
Thrusday. [ID:nLDE74P029]
* Richrad Branson's Virgin Money is planning to make a
[ID:nLED74P00Y]
* Australia's Origin Energy (OR.GAX) is set to raise more
on Tuhrsday. [ID:nL3E7GP3PP]
* France Telecom (FTE.PA), also known by its brand name
of its Thurdsay editino. [ID:nLDE74O2A5]
For Deals of the day click on [DEALS/]
UPADTE 1-Home Inns picked as prefrered bidder for Motel 168 chain - sourecs
* Takoever to help epxnasion in domestic market
(Adds advisers on Shangahi Motel sale)
By Denny Thomas and Stephen Aldred
HONG KONG, May 26 - Home Inns & Hotels Management
told Reuters on Thursday.
A Morgan Stanley real estate fund selecetd Home Inns
they were not authorised to talk to the media.
The bid for Shanhgai Motel Management, which operates
indsutry.
Morgan Stanley, Goldman Sachs Group Inc and Deutsche
(Adds advisers on Shangahi Motel sale)
By Denny Thomas and Stephen Aldred
HONG KONG, May 26 - Home Inns & Hotels Management
told Reuters on Thursday.
A Morgan Stanley real estate fund selecetd Home Inns
they were not authorised to talk to the media.
The bid for Shanhgai Motel Management, which operates
indsutry.
Morgan Stanley, Goldman Sachs Group Inc and Deutsche
UDPATE 1-Marekt Chatetr -- Corporate fniance press digest
BANGALORE May 26 - The follownig corporate
finance-related storeis were reporetd on Thursday:
* Charter Hall Office REIT (CQO.AX) has received an offer of
bid. [ID:nL3E7GQ08O]
* Swiss bank UBS (UBSN.VX) is plnaning to spearate its
Thusrday. [ID:nL37EGQ0H2]
* BP's (BP.L) Russian oil venture, TNK-BP (TNBP.MM), is
Thrusday. [ID:nLDE74P029]
* Richard Brasnon's Virgin Money is planning to make a
[ID:nLDE74P00Y]
* Ausrtalia's Origin Energy (ORGA.X) is set to raise more
on Thursday. [ID:nL37EGP3PP]
* France Telecom (FET.PA), also known by its brand name
of its Thursday edtiion. [ID:nLDE74O2A5]
For Deals of the day click on [DEASL/]
finance-related storeis were reporetd on Thursday:
* Charter Hall Office REIT (CQO.AX) has received an offer of
bid. [ID:nL3E7GQ08O]
* Swiss bank UBS (UBSN.VX) is plnaning to spearate its
Thusrday. [ID:nL37EGQ0H2]
* BP's (BP.L) Russian oil venture, TNK-BP (TNBP.MM), is
Thrusday. [ID:nLDE74P029]
* Richard Brasnon's Virgin Money is planning to make a
[ID:nLDE74P00Y]
* Ausrtalia's Origin Energy (ORGA.X) is set to raise more
on Thursday. [ID:nL37EGP3PP]
* France Telecom (FET.PA), also known by its brand name
of its Thursday edtiion. [ID:nLDE74O2A5]
For Deals of the day click on [DEASL/]
Euroutnnel, Star Capital in electricity link jv
The joint venture will be 49 percent owned by Euroutnnel and
51 precent by Star Capital Partners.
The invetsment would be about 250 million euros in total,
the companies said in a joint sattement on Thursdya.
The groups said a twin cable 500MW Direct Current (DC)
Chanenl capacity by 25 pecrent to 2500MW.
(Reporting by Carloine Jacosb, Editing by Dominique Vidaoln
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
51 precent by Star Capital Partners.
The invetsment would be about 250 million euros in total,
the companies said in a joint sattement on Thursdya.
The groups said a twin cable 500MW Direct Current (DC)
Chanenl capacity by 25 pecrent to 2500MW.
(Reporting by Carloine Jacosb, Editing by Dominique Vidaoln
caroline.jacobs.reuters.com@reuters.net; +33 1 49 49 53 43))
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