Sterling Bancorp was purchased by Provident New York Bancorp for US$344 million. Provident New York Bancorp has announced its purchase of Sterling Bancorp through a stock deal amounting to US$344 million.

Cerberus Capital is now preparing to undertake an IPO of its German property assets. Private equity firm Cerberus Capital Management LP, led by Stephen Feinberg is now going full steam ahead with an initial public offering of its German retail property assets.

India, in order to raise funds to narrow the budget deficit, is selling off asset shareholdings in Indian corporations.

Billabong is currently priced at Aus$0.50, much lower than the estimated offer. Billabong International Ltd, the largest surf wear company in Australia, is being bidded out for as low as Aus$0.

Randstad purchases part of USG People's operations at Eur20 million. Randstad, the Dutch staffing firm has entered into an agreement to purchase part of USG People's European operations.

Bertelsmann would be selling off part of its shareholdings in the RTL Group for an estimated Eur1.5 billion.

France Telecom and Deutsche Telekom venture in the UK EE is planning strategic changes. EE, Britain's largest mobile operator, is now undertaking plans to prepare for its initial public offering.

Mitsui Corp, one of the world's leading chemical makers purchases Heraeus Dental for Eur450 million.

German media conglomerate Bertelsmann has said that it is making sale of a stake in RTL group. Germany's Bertelsmann has announced that it is planning to sell a stake in broadcasting company RTL Group worth as much as 1.

Randstad and USG People reached a deal in which the former will buy some of the latter's European operations for 20 million euros.