Denizbank has entered into an agreement to acquire the Turkish consumer businesses of Citibank. Denizbank A. S. of Turkey was recently acquired by Sberbank, a state controlled bank of Russia late last year.
Merchant banks
Citigroup's Credit Card Unit Subject to Competing Bids
Citigroup's units now being sought for acquisition by three different banks. The three largest private sector banks in Brazil have made offers to purchase Citigroup's credit card and consumer financing unit in Brazil.
WorldPay Gets US$1.08 Billion Loan Equivalent
WorldPay was able to raise US$1.08 billion loan equivalent for dividend and debt payment purposes. WorldPay, the payment processing company from Great Britain, has announced the success in its raising of a GBP700 million or US$1.
Delay in Hudson City-M&T Deal Ruling Expected
Concerns about money laundering and violations of the Bank Secrecy Act hold back M&T Bank's purchase of Hudson City Bancorp Inc.
Hub International Up for Sale
Hub International is being sold off by owners Apax Partners and Morgan Stanley. Apax Partners, the buyout firm and the private equity unit of Morgan Stanley is now in the process of exploring the sale of Hub International, the insurance brokerage firm based out of Chicago.
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Pramerica rates and structure allows for newer and better collateralized loan obligations to be utilized in the market.
The recent decline of an offer and its sudden stop in its search for a partner has put Gleacher in deeper issues moving forward.
Nomos Bank would offer a dollar denominated Eurobond through a roadshow. The Russian financial institution Nomos Bank is one of the few banks in Russia listed in the country's stock exchange.
Telecom Italia's investors meet to discuss future moves Telecom Italia SpA's stockholders are meeting today to discuss its future moves on votes to be made at the annual shareholders meeting of the largest phone company of Italy.
Using bailout funds, Russian state owned banks create new business for its benefit. State controlled Russian investment banks of President Vladimir Putin are bullying foreign competitors out of the market, as they are buoyed by a bailout from its Russian tycoon cartel.
A US$3 million loan was granted by Square 1 for the expansion goals of SteadyMed. Square 1 Bank has announced it has opened a US $3 million term loan credit facility to SteadyMed Therapeutics.
Mitsubishi UFJ Finance Group is in discussion to acquire US commercial property loans from Deutsche Bank.
The merger of the National Bank of Greece and its subsidiary NFG Eurobank is suspended until further notice.
China's big banks are not providing more credit to small and microsized firms. According to a researcher, the big banks of China are not lending more to the smallest firms.
