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Article: This Month: News - Merrill Lynch Carbon Deal.
- Article from:
- The Banker
- Article date:
- April 1, 2007
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Copyright informationCOPYRIGHT 2007 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New York-based Merrill Lynch has taken a minority stake and provided debt financing to the Russian Carbon Fund, a Dutch company, for a deal understood to be worth $200m. The transaction will secure the US investment bank a foothold in the carbon trading and emissions reductions market in Russia and the Commonwealth of Independent States.
Citi has launched a $14bn bid for Nikko Cordial, Japan's third largest broker, following an accounting scandal that led to a downturn in business and an executive shake-up. The deal would be the largest foreign takeover of a Japanese company. Mizuho Financial Group has decided to tender its 4.8% stake in Nikko to Citi, Reuters reported, ...