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  • The European Commission has approved Bertelsmann's sale of its BMG Music Publishing business to Universal under the EC Merger Regulation.
  • Perusahaan Listrik Negara (PLN) has issued $1 billion in bonds, the largest corporate debt issue in Indonesia this year.
  • In a sign of a swing towards a more bearish market, new bond issuance is up 13% so far this year, according to the International Capital Markets Association (ICMA). The past few years have seen investors flock to ever more exotic products in search of higher margins, but the ICMA's latest figures could be evidence of a flight to quality in the debt markets.
  • Mayer Brown Rowe & Maw advised on the restructuring of Great Lakes Insurance, which closed last week.
  • Arthur M Mitchell, the general counsel of the Asian Development Bank (ADB), will join White & Case as senior counsel on September 3 2007.
  • Kraft Foods has hired Clifford Chance for its $7.2 billion cash offer to acquire the global biscuit business of Groupe Danone. If successful, Kraft Food will become Europe's largest biscuit producer.
  • Herbert Smith has advised Goldman Sachs as sole global co-ordinator and sponsor of the global offering of Delta Networks, a Taiwan-based manufacturer of networking products.
  • Rio Tinto and Alcan announced on July 12 an agreement for Rio Tinto to make an offer to acquire all of Alcan's outstanding common shares.
  • Yesterday saw the adoption of the European Commission's Jurisdictional Notice for merger control, with antitrust warehousing identified as an area for concern.
  • Despite fears over a lack of legal market reform, India has witnessed its largest-ever initial public offering (IPO) and equity offering from DLF and ICICI Bank, respectively.