Time is right for RBS share sale, bankers and analysts say

LONDON, May 29 (Reuters) - The British government should go ahead and sell more shares in state-backed Royal Bank of Scotland, bankers and industry experts said, even though it would likely mean a big loss to taxpayers.

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D.C. airport bonds to lead holiday week in U.S. muni market

May 25 (Reuters) - Washington, D.C.'s airports authority will lead a holiday-shortened week in the U.S. municipal bond market, issuing $578 million in refunding bonds as it forges on with capital projects at the region's two main airports.

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Old Mutual gets rough ride over share bonus plan at AGM

May 25 (Reuters) - Old Mutual shareholders approved an employee share bonus plan on Friday, although the Anglo-South African financial services group faced a backlash over granting non-performance based awards to executives.

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UPDATE 1-Petra Diamonds says it urgently needs to raise $178 mln to cut debt

LONDON, May 24 (Reuters) - Mining firm Petra Diamonds said it aims to raise $178 million to help cut its debt burden, and warned it could run low on working capital and breach its debt covenants if shareholders do not back the proposed rights issue.

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UPDATE 1-Polyus expects 2018 gold output at top of forecast range

ST PETERSBURG, May 24 (Reuters) - Polyus, Russia's largest gold producer, said on Thursday 2018 production was likely to be at the upper end of its forecast range of 2.375-2.425 million troy ounces.

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Miner Petra Diamonds to raise $178 mln to cut debt, cope with strong rand

LONDON, May 24 (Reuters) - Mining firm Petra Diamonds said on Thursday it would raise $178 million from investors to cut debt after it was hobbled by a strong South African rand, delays in production, strikes and a confiscated consignment of diamonds.

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Ireland's Smurfit aims to see off takeover with Dutch acquisition

DUBLIN, May 24 (Reuters) - Smurfit Kappa has agreed to buy Dutch paper and recycling firm Reparenco for about 460 million euros ($539 million), the Irish packaging group said on Thursday, in its effort to see off a takeover bid from U.S. rival International Paper (IP).

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Kuwait Energy appoints adviser as it looks to sell Iraq asset - sources

DUBAI, May 20 (Reuters) - Kuwait Energy, an independent oil and gas company, has hired investment bank Perella Weinberg Partners (PWP) to advise it on options that could include selling all or part of its Block 9 asset in southern Iraq and a spin-off of Egyptian assets, sources familiar with the matter said.

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UPDATE 1-Scotiabank quits as primary dealer of UK government debt - DMO

LONDON, May 17 (Reuters) - Scotiabank has resigned as a primary dealer of British government debt, the Debt Management Office said on Thursday, the latest financial services firm to have given up the role in recent years.

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UPDATE 3-Mothercare to shut a third of UK stores in battle for survival

* Battered shares rise as much as 34 pct (Adds details of 2017-18 financial results, analyst comment, updates shares)

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Scotiabank quits as primary dealer of UK government debt - DMO

LONDON, May 17 (Reuters) - Scotiabank has resigned as a primary dealer of British government debt, the Debt Management Office said on Thursday.

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UPDATE 2-Mothercare plans store closures to revive sickly UK child

* Refinancing to provide 113.5 mln pounds of funding (Adds detail, chairman comments, shares)

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UPDATE 1-3i's full-year total return slips to $1.9 bln

LONDON, May 17 (Reuters) - Private equity firm 3i on Thursday posted a 24 percent total return on shareholders' opening funds in the year to end-March, helped by asset sales by its infrastructure arm.

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UPDATE 1-UK's Mothercare will close 50 more stores in survival plan, CEO to return

LONDON, May 17 (Reuters) - Britain's Mothercare, the struggling mother and baby products retailer, said on Thursday it would close 50 more stores as part of a survival plan that would also see it ask shareholders for 28 million pounds ($38 million) in an equity raise.

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UPDATE 3-SABB and Alawwal agree $5 bln merger to create Saudi's third largest bank

* Deal should make it easier for RBS to exit Alawwal stake -sources

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International Paper says it will not make hostile bid for Smurfit

* International Paper given June 6 deadline to launch hostile bid

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UPDATE 2-Alawwal and SABB to merge to create Saudi Arabia's third largest bank

DUBAI, May 16 (Reuters) - Saudi British Bank (SABB) and Alawwal Bank have agreed a merger that would create Saudi Arabia's third-biggest bank with assets of around $77 billion, the two banks said on Wednesday.

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UPDATE 1-Alawwal and SABB to merge to create Saudi Arabia's third largest bank

DUBAI, May 16 (Reuters) - Saudi British Bank (SABB) and Alawwal Bank have agreed a merger that would create Saudi Arabia's third-biggest bank with assets of around $77 billion, the two banks said on Wednesday.

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Alawwal and SABB to merge to create Saudi Arabia's third largest bank

DUBAI, May 16 (Reuters) - Saudi British Bank (SABB) and Alawwal Bank have agreed on a merger, Alawwal Bank said on Wednesday, in a deal that would create Saudi Arabia's third-biggest bank with assets of around $77 billion.

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UPDATE 3-UK draws record 37.8 bln stg investor demand for new 2071 bond

LONDON, May 15 (Reuters) - Britain received a record 37.8 billion pounds ($51 billion) of demand at the launch of a new bond maturing in 2071, showing continued strong investor appetite for British government debt.

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UPDATE 2-UK draws record 37 bln stg demand for new 2071 bond

LONDON, May 15 (Reuters) - Britain received record demand from investors at the launch of a new government bond which matures in 2071, as banks handling the sale took more than 37 billion pounds ($50 billion) of orders from investors.

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UPDATE 1-UK draws record 37 bln stg demand at launch of new 2071 bond

LONDON, May 15 (Reuters) - Investors placed a record 37 billion pounds ($50.2 billion) worth of orders on Tuesday for a new British government bond which will mature in 2071, one of the bookrunners on the deal said.

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UK 2071 gilt syndication draws over 27 bln stg in orders

LONDON, May 15 (Reuters) - Investors placed orders worth more than 27 billion pounds ($36.55 billion) at the launch of a new British government bond due to mature in October 2071, one of the bookrunners on the deal said on Tuesday.

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UK opens books on syndication of new 2071 gilt

LONDON, May 15 (Reuters) - Britain opened books on Tuesday for the sale via syndication of several billion pounds of a new gilt maturing in October 2071 with a coupon of 1.625 percent, one of the bookrunners on the deal said.

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UPDATE 1-Turkish discount grocer Sok raises $531 mln after cutting IPO price

ISTANBUL, May 14 (Reuters) - Turkish discount grocer Sok Marketler on Monday raised 2.3 billion lira ($531 million) in an initial public offering, after being forced to cut the price and extend the bookbuilding amid weakening demand for new listings.

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Hedge fund Caius says uncertainties remain on UniCredit notes

LONDON, May 11 (Reuters) - British hedge fund Caius Capital on Friday said "significant uncertainties" remained on the regulatory treatment of a complex financial instrument as UniCredit's best-quality capital, in a letter to the bank's CEO.

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RBS to consider appeals for indirect losses to businesses in its turnaround unit

LONDON, May 10 (Reuters) - Royal Bank of Scotland will set up an appeal process to consider claims for alleged consequential losses suffered by businesses in its Global Restructuring Group, a British lawmaker said on Thursday.

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UPDATE 1-Cyber security firm Avast falls in LSE's biggest debut of the year

LONDON, May 10 (Reuters) - Cyber security firm Avast shares were down 2.6 percent in early trade on Thursday in the London Stock Exchange's biggest debut in almost a year.

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Cyber security firm Avast down 3 pct in London debut

LONDON, May 10 (Reuters) - Cyber security firm Avast was down almost 3 percent in its debut on Thursday compared to its offer price of 250 pence in the biggest initial public offering (IPO) on the London Stock Exchange since July 2017.

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BRIEF-Cyber security firm Avast down 7 pence on IPO price of 250 pence in early trading

* CYBER SECURITY FIRM AVAST DOWN 7 PENCE ON IPO PRICE OF 250 PENCE IN EARLY TRADING Further company coverage: (Reporting by Dasha Afanasieva)

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UPDATE 1-Cyber security firm Avast poised to list at 250 pence at bottom of price range

LONDON, May 9 (Reuters) - Private equity-backed cyber security firm Avast is set to price its initial public offering at 250 pence a share, a bookrunner source on the deal said on Wednesday, at the bottom of a 250-270 pence price range set earlier.

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Cyber security firm Avast cuts IPO price guidance to 250-270p per share

LONDON, May 9 (Reuters) - Private equity-backed cyber security firm Avast reduced the expected price range for its landmark initial public offering to 250-270 pence a share on Wednesday, from an earlier range of 250-320 pence.

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UPDATE 2-Weak demand forces Springer Nature to cancel $3.2 bln float at last minute

* Science magazine publisher was due to float in Frankfurt on Wed

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Springer Nature cancels Frankfurt stock market listing

FRANKFURT, May 8 (Reuters) - Springer Nature, the publisher of science magazines Nature and Scientific American, has cancelled the 3.2 billion euros ($3.8 bln) stock market flotation planned for Wednesday due to weak investor demand.

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UPDATE 5-Japan's Takeda clinches $62 bln Shire deal as pharma M&A rolls on

* Deal expected to close in first half of 2019 (Adds ratings agency reaction, further details)

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British hedge fund Caius challenges capital treatment of UniCredit notes

LONDON/MILAN, May 8 (Reuters) - British hedge fund Caius Capital has asked the European Banking Authority (EBA) to open an investigation into the regulatory treatment of a complex financial instrument as UniCredit's core capital.

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UPDATE 1-Springer Nature IPO likely to be cheaper and smaller than original target

* Pricing expected later on Tuesday, trading to start Wednesday

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UPDATE 4-Japan's Takeda clinches $62 bln deal to buy drugmaker Shire

* Deal expected to close in first half of 2019 (Adds investor comment, more on past M&A, Breakingviews link)

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UK biotech firm Autolus joins CAR-T rush with Nasdaq IPO filing

LONDON, May 8 (Reuters) - Autolus Therapeutics, a small British company developing cell therapy treatments, is to join the swelling ranks of listed biotech companies using the new anti-cancer technology with a planned IPO on Nasdaq.

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UPDATE 3-Japan's Takeda clinches $62 bln deal to buy drugmaker Shire

* Takeda sees 6-7 percent reduction in global workforce (Adds further Takeda CEO quotes, more on drugs, shares)

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UPDATE 2-Japan's Takeda agrees $62 billion takeover of Shire

LONDON, May 8 (Reuters) - Takeda Pharmaceutical agreed to buy London-listed Shire for 45.3 billion pounds ($61.50 billion) on Tuesday after the Japanese company raised the amount of cash in its offer to $30.33 to secure a recommendation.

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Russia's TCS may issue new shares for potential acquisitions

MOSCOW, May 5 (Reuters) - Russian online financial services company TCS Group may increase its share capital by up to 5 percent which could be used to make potential future acquisitions, its spokeswoman said on Saturday.

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UPDATE 2-Vivo Energy, Vitol's Africa venture, floats with 2 billion pound valuation

LONDON, May 4 (Reuters) - Vivo Energy PLC launched on the London Stock Exchange on Friday with a valuation of nearly 2 billion pounds ($2.7 billion), the largest London IPO so far this year and the largest Africa-focused IPO in more than a decade.

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UPDATE 1-Vivo Energy, Vitol's Africa venture, floats with 2 billion pound valuation

May 4 (Reuters) - Vivo Energy PLC launched on the London Stock Exchange on Friday with a valuation of nearly 2 billion pounds ($2.7 billion), the largest London IPO of the year.

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UK DMO names banks for sale of 2071 gilt in mid-May

LONDON, May 4 (Reuters) - Britain's Debt Management Office has named a syndicate of banks to sell a new conventional gilt with a 2071 maturity date, with the sale in the week starting May 14.

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UPDATE 1-SLA flags possible capital return after Phoenix insurance deal

May 3 (Reuters) - Britain's Standard Life Aberdeen (SLA) said on Thursday it was considering the potential for a "substantial" return of capital to shareholders after it completes a deal to sell the bulk of its insurance business to Phoenix Group.

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Standard Life reiterates capital return plans after Phoenix deal

May 3 (Reuters) - Standard Life Aberdeen on Thursday said it was considering the potential for a "susbtantial" return of capital to shareholders after its deal to sell the bulk of its insurance business to Phoenix Group closes.

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France's Fonciere des Regions enters UK market in $1.2 bln hotels takeover deal

PARIS, May 3 (Reuters) - French property group Fonciere des Regions made its first foray into the British market on Thursday, in a deal to buy 14 upmarket hotels from Starwood Capital for 858 million pounds ($1.2 billion).

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BRIEF-Fonciere Des Regions to finance UK hotels takeover deal via capital increase

* To finance this transaction, Foncière des Murs, a subsidiary of Foncière des Régions, has in particular planned an increase of its share capital in the amount of c. €300 million, to be subscribed by all its major shareholders

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Neptune Energy increases bond offering to $550 mln

* Neptune Energy Bondco plc, a wholly-owned subsidiary of oil producer Neptune Energy Group Limited, announced on May 1 it has priced its offering of 6 5/8 pct senior notes (the “Offering”) in an aggregate principal amount of $550 million (the “Notes”)

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