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  • Can we please get off the merry-go-round? Replacing the FSA will solve nothing about UK regulation
  • Approximately $15 billion of existing debt of the Cemex Group has been refinanced by a committee of lenders involving more than 50 banks.
  • The approval of a restructuring scheme for IMO Carwash that favours senior lenders has been declared a precedent for junior lenders to fear. But the real point of the verdict is the valuation
  • Allen & Overy has advised Lloyds Banking Group on the sale of Insight Investment Management to Bank of New York Mellon for £235 million ($389 million).
  • Cleary Gottlieb Steen & Hamilton is representing French advertising group Publicis Groupe in its $530 million acquisition of digital advertising agency Razorfish from Microsoft.
  • The German government’s plan to take over potentially insolvent banks threatens contracts with foreign institutions, and could limit the funding that struggling banks can access
  • Chinese state-owned enterprise Sinochem is being advised by Freshfields Bruckhaus Deringer with regard to its £531 million ($879 million) recommended cash acquisition of Emerald Energy.
  • Ignacio Suarez Anzorena is joining the international arbitration group at Chadbourne & Park from Clifford Chance.
  • Davis Polk & Wardwell advised Morgan Stanley on its repurchase of Temporary Asset Relief Programme (Tarp) warrants for $950 million.
  • Allen & Overy has advised the Indonesian state on an issuance of $374 million samurai bonds. This is the first sovereign samurai to receive a guarantee; this was provided by JBic. JBic was counselled by Nishimura & Asahi while Marsinih Martoatmodjo Iskandar Kusdihardjo provided assistance to the sovereign issuer.