Region - Central and Eastern Europe
Sberbank’s Troika deal approved
Sberbank’s acquisition of investment bank Troika Dialog has closed, creating the largest universal bank in Russia.
Crisis continues with sovereign downgrades
This week has seen continued uncertainty in Europe’s financial markets following the downgrade of several European governments’ credit ratings by Standard & Poor’s and ongoing worries about a looming default from Greece.
Standard & Poor’s decision to downgrade sovereigns including France, Austria, Italy, Spain and Portugal, and the subsequent downgrade of the EFSF, the eurozone bailout fund, highlighted concerns over politicians’ attempts to get their fiscal houses in order. “It’s difficult to quibble with S&P’s reasoning for its actions,” said Chris Scicluna, head of economic research at Daiwa Capital Markets.
Telekom Srbija secures new funds
Serbian telecoms company receives €470mn from 19 banks.
Troika Dialog hires Safonov
Russian bank names new head of fixed income, currencies and commodities.
Salans links with Turkish firm
Law firm strikes partnership agreement with Istanbul’s BASEAK.
Emirates Islamic Bank to issue US$500mn sukuk
Bank opens order book following investor meetings last week.
Euro fund raises EUR3bn
EFSF sees strong demand for bond to boost Ireland and Portugal assistance.
Temasek hires UBS CFO
John Cryan joins Singaporean investment firm as European president.
Carlyle buys Turkish education stake
Asset manager takes 48% of private schools operator.
Renaissance buys Eastern European fund
Griffin acquisition adds German-speaking market to portfolio.
Eurozone recession to deepen - Goldmans
Pressures should lead to “a more concrete policy agreement”, say analysts.
EIB appoints new president
German minister Werner Hoyer replaces Philippe Maystadt after 12 years.
UniCredit confirms rights issue
Shares fall as Italian bank announces details of discounted €7.5bn deal.
