Cultor aikoo myyd leipomotoimintansa

Article Abstract:

Finland's Cultor plans to sell its bakery operations. However, negotiations are not yet underway. Cultor wishes to concentrate on food and feed improvements. Bakery operations account for under 20% of Cultor turnover and profit. The refining value of improvements is high, thus they are more profitable than bread. Cultor is negotiating on purchase of two improvement companies. Cultor does not expect Fazer to be interested in Cultor's Vaasa Bakeries. Moreover, Cultor bakery operations are not expected to be divided among several buyers. Fazer says their interest towards Vasa Bakeries is rather weak. Their operations are highly overlapping, thus joining them would seem unnecessary.

Comment:

Plans to sell its bakery operations but negotiations are not yet underway

Retail Bakeries, Retail Bakeries (Mfg & Sales), Bakeries, Cultor Ltd.

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Konkurssi-Kansan helmi myyd n Saksaan

Article Abstract:

Finnish Kansa International Corporation, KCI, will sell the American insurance company Clarendon to German Hannover Re Group. According to a press release by the German company, the purchasing price is USD 500mn. The receivership of Kansa admits that the sale of Clarendon has been discussed with Hannover Re Group. However, no agreement has yet been signed. According to receiver Pekka Jaatinen, the deal may be finalized in spring 1999 the latest. KCI owns approx. half of Clarendon, thus, the assets of Kansa bankrupt's estate will increase by over FIM 1bn (USD 183mn) due to the deal.

Comment:

Will sell the American insurance company Clarendon to German Hannover Re Group

United States, Acquisitions & mergers, Foreign operations, Germany, Insurance, Insurance Carriers and Related Activities, Reinsurance, Reinsurance Carriers, HANNOVER Ruckversicherungs-AG, Kansa International Corp.

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Suomi aikoo korottaa IMF:lle osoitettua j senosuuttaan

Article Abstract:

The Board of the Bank of Finland has decided to increase Finland's membership share of IMF from FIM 6,240mn (USD 1,177mn) to FIM 9,150mn. The final decision will be made the Parliament. The increase comes as a general revision. Finland's share has last been increased ten years ago. The money is not included in the state budget as they are shown as membership share off the accounts of Bank of Finland. According to the Bank of Finland, the increase is necessary as there are several new members in the IMF. The increase is not related to the financial crises in Asia or Russia.

Comment:

Decides to increase Finland's membership share of IMF from FMk6,240 mil to FMk9,150 mil

Commercial Banks, Commercial Banking, Use of Funds, Bank of Finland

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