Article: This Month: News - Merrill Lynch Carbon Deal.

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, ...

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