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  • North America-Court of Appeal rules on dissenting shareholder rights on compulsory squeeze out – equal treatment prevails over equal opportunity
  • The new regulations on securitization in Italy allow for more flexible structuring of deals. Raffaele Rizzi of Baker & McKenzie, London explains how to match the right structure to the securitized assets
  • Europe-Increasing control on concentrations
  • UAE
    Middle East & Africa-Recovery of loan Interest
  • A consortium including British Gas and Shell has bought a $1 billion controlling stake (53%) in Gas de Sao Paulo, Brazil’s largest natural gas distributor*. This was the Brazilian government’s first privatization since the devaluation of the real in January. Gas de Sao Paulo serves around 300,000 mainly industrial customers in Sao Paulo, Brazil’s most populous state. The consortium’s bid was chosen in preference to several rival consortia, including one led by Enron and Agip of Italy.
  • Serge Durox of Coudert Frères, Paris, assesses the impact of new regulations on private placements and identifies the outstanding issues for prospective borrowers
  • The Capital Markets: Irish and International Laws and Regulations By Agnes Foy (Round Hall Sweet & Maxwell, 1998) Reviewed By Mark Walsh, Partner, Brown & Wood, London and New York*
  • Latin America-Brazilian natural gas company sold at a premium of 119%
  • Europe-Polish Zloty (PLN) to be fully convertible by the year 2000
  • Europe-Securities guidelines on the use of analysts’ reports