According to the Financial Times, Severn Trent, a water and sewage utility, is now the target of a takeover bid by OMERS and the Kuwaiti Investment Authority.

Alcorn Gold would be known as Cosco Capital when its IPO pushes through. Cosco Capital is planning to make a share offer worth at least US$500 million in order to improve its liquidity and free float as it comes out of a recent conglomerate restructuring program.

Citi hires Ben Story, former head of Deutsche Bank. Former Deutsche Bank head Ben Story has been appointed by Citigroup to become head of UK Investment Banking and Brokerage.

Deutsche Bank and Mainfirst would conduct pre-IPO private placement sales of Evonik shares. Deutsche Bank and Mainfirst, two major investment banks are in the process of placing up to 2% of the shares in Evonik, the Germany based chemical company.

Deutsche Bank faces one of the many trading day cases in court. Back in October 2008, Alexander Vik went to the London office of Deutsche Bank AG to meet with account managers regarding his Sebastian Holdings Inc investment fund.

Deutsche Bank loan creates REMIC to become a bond for market purposes. Deutsche Bank's loan facility to Five Ten Capital, an asset manager based in California, will be facilitating the creation of a REO-to-rental bond.

In a move to bolster investment banking projects, Deutsche Bank removes three supervisory board members and replaces them with known advocates of investment banking.

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.

Mitsubishi UFJ Finance Group is in discussion to acquire US commercial property loans from Deutsche Bank.

News and developments in Asia private equity from Reuters News for the week ending May 25. News and developments in Asia private equity from Reuters News for the week ending May 25.