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PRESS DIGEST- Financial Times - Aug 14
August 13, 2014 / 11:19 PM / 3 years ago

PRESS DIGEST- Financial Times - Aug 14

Aug 14 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.


Russian steelmaker Evraz raises $425m from European lenders


Saga takes majority stake in rival in first deal since flotation


Bill Ackman plans to raise $4 bln by listing new investment vehicle


U.S. biotech InterMune appoints advisers in face of takeover bids


European companies slam Chinese antitrust probes


African Minerals considering future of its executive chairman



Russian steelmaker Evraz Plc has managed to raise a $425 million loan from a syndicate of European banks - an indication that some Western banks are continuing to lend money in the country, despite mounting concerns over the prospect of toughening international sanctions.

Saga Plc, a UK travel and insurance company specialising in the over 50s, has bought a majority stake in online holiday packages provider Destinology, marking its first acquisition since the company went public earlier this year.

William Ackman has dropped hints that the billionaire investor will look to raise about $4 billion by listing a new investment vehicle on the London Stock Exchange, adopting a strategy other hedge fund titans such as Daniel Loeb and Alan Howard have used in the past.

Biotechnology company InterMune Inc has appointed Centerview Partners and Goldman Sachs Group Inc as financial advisers to help the orphan drugmaker prepare for possible takeover bids from larger sector rivals, sources say.

European companies have lashed out against the Chinese government renewed attempt to crackdown on alleged violations of the country’s anti-monopoly law, with Beijing-based European Chamber of Commerce in China saying that officials have unfairly targeted foreign firms and have subjected them to “intimidation tactics”.

African Minerals Ltd’s board is considering replacing Executive Chairman Frank Timis and said it will strengthen its governance, after the iron ore miner had to launch on internal probe into whether Timis benefited from a $50 million payment he authorised. (Reporting by Esha Vaish in Bangalore; Editing by Lisa Shumaker)

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