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Steve Forbes

Top deals of the Day - Bids, Mergers & Acquisitions

The following bids, mergers, acquisitions and disposals were reported on Monday including Forbes, Axel Springer, MidCap Financial LLC, Goldman Sachs and others.

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Monte Paschi

Senior executive at Monte Paschi's biggest shareholder quits job over stake sale plan

Giorgio Olivato, vice chairman of a foundation that is Monte Paschi's largest shareholder, has resigned from office for unknown reasons. Sources, however, said that Olivato opposed the foundation's plan to sell its stake in the Italian bank.

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European Central Bank

ECB reduces amount of banks' crisis loan payments but urges them to pay next week

The European Central Bank's attempt to reduce the excess liquidity levels of banks in the financial system had prompted the central bank to call on banks it had loaned to repay its debts at a reduced rate.

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Sberbank CEO Herman Gref

OAO Sberbank undergoes structural changes to improve

OAO Sberbank, under the leadership of CEO Herman Gref, had undergone layoffs as well as transitions to become one of the top banks in Europe, with interests in Eastern Europe and Turkey.

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Bank of America Merrill Lynch

BofA nearing settlement with Freddie Mac

A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.

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Telefonica's building in central Madrid

Top deals of the day - mergers & acquisitions

The following bids, mergers, acquisitions and disposals were reported on Monday.

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Dubai Financial Area

Eman Mansour to open new investment banking firm

Dubai would be host to Eman Mansour's latest investment banking endeavor.

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Nitro Circus

Nitro Circus merges with touring company

Extreme athletics showcase Nitro Circus announced it would become one with the touring company that helped produce its live programs.

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Euro

EU seeking creation of bank to oversee banks in the EU

Germany's coalition government formalized a measure to provide funds and expertise for a European bank to manage the loan agreements and if necessitated, closure of banks.

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Deutsche Bank

Deutsche Bank loan issue overshadowed by new agreements

Deutsche Bank AG said that new rules would not foster business but in the past week alone it had agreed on a couple of business related loans.

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UBS AG Logo

UBS AG to pay back Swiss National Bank for bailout fund value

The Stability Fund was created as part of the bailout package of UBS AG and now, it was time for the bank to pay back the fund under a given formula.

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Etisalat

Banks avoid financial backing for Etisalat over letter of support issued for subsidiary

Two of the most active banks in the Gulf region, Standard Chartered and Citigroup Inc have decided not to support Etisalat's loan for the acquisition of Maroc Telecom.

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BNP Paribas SA

Poland's market rife with takeovers

The latest takeover bid was submitted by BNP Paribas SA for BGZ Bank in the Polish market that had seen mega million takeover deals in its banking industry.

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ING Groep Nv

ING Groep NV says capital buffers sufficient for ECB testing

Regulatory authorities are reviewing the capital buffers ING Groep NV for real estate financial loans prior to ECB testing to be conducted.

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Lloyds Banking Group

Lloyds Banking Group conducts internal inquiry

An internal inquiry is to be conducted by Lloyds Banking Group as to its foreign currency trading operations after being advised by the Financial Conduct Authority to review its processes and report irregularities.

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