France cancels sale of CFF to consortium

Article Abstract:

Credit Foncier de France has seen its proposed sale be shelved by the French government that places the future of the state-owned mortgage bank into uncertainty. The planned sale to a consortium led by General Motors Acceptance Corp. is part of a privatization of the bank. CFF's delay into a sale comes as the government is making preparations for a much larger divestiture of a portion of its interest in Credit Lyonnais in 1999. GMAC spokesperson Terry Sullivan said the consortium expressed disappointment on the decision by the French government. France intends to place CFF under restructuring before placing it again on the sales block in 1999.

Comment:

Seen proposed sale be shelved by the French government that places the future of the state-owned mortgage bank into uncertainty

Mortgage Bankers & Brokers, Mortgage and Nonmortgage Loan Brokers, Article, Credit Foncier de France S.A.

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Vivendi's U.S. filter deal stirs up water business

Article Abstract:

Vivendi SA acknowledged that it has reached an agreement to acquire US Filter Corp. in a cash transaction worth $6.2 billion. The deal will give Vivendi a competitive edge over its rivals. The deal was also the largest corporate acquisition in the US by a French firm. The water-supply and water-treatment business in the US is the largest in the world with an estimated $80 billion to $90 billion in revenues a year.

Comment:

Vivendi to acquire US Filter in cash transaction worth $6.2 billion

United States, Acquisitions & mergers, Water Supply and Irrigation Systems, Foreign operations, Water Treatment, Water utilities, Mergers, acquisitions and divestments, Abstract, United States Filter Corp., Vivendi S.A.

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