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In an emergency deal, authorized by the Treasury Department and the Fed, JPMorgan Chase bought the troubled fifth largest US investment bank Bear Stearns reaching worth of revised deal about $1, 2 Billion.

Investment Opportunity (AXcess News) Moscow - Russia's natural gas monopoly Gazprom has agreed to pay $13.1 billion to take over Roman Abramovich's Sibneft Oil Company as the Russian government is on a buying spree for assets that were sold off after the Soviet Union collapsed. The information of the deal was reported on Wednesday, Sept. 28.

by Dave Porter A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems for $11.3 billion, the largest buyout of a public company since 1989. If you would like to receive late breaking business news covered by AXcess News then you need to subscribe. Membership is free. Print This Page March 28, 2005 (AXcess News) A syndicate of seven private equity investment banking firms have agreed to buy SunGard Data Systems ( SDS) for $11.3 billion, the largest buyout of a public company since 1989.

Banc Of America Investment The acquisition of Sibneft will give President Putin's government control of as much as 30 percent of the crude oil pumped in Russia, the world's second-largest supplier, as prices stay near record highs. Gazprom already has the world's largest natural gas reserves and is the biggest foreign gas supplier to Europe. The deal will be Russia's biggest ever.

(AXcess News) Gazprom, the world' owned gas company, said talks between Gazprom CEO Alexei Miller and Turkmen President Saparmurat Niyazov to develop gas fields in Turkmenistan with the Central Asian state would continue and that existing agreements to market gas would be extended. Terms of the deal were not disclosed. "They discussed new forms of cooperation, not only for purchases of Turkmen gas by Gazprom but also the company's participation in gas production projects, " owned company said.

Banking Investment "The state is going to run the energy business in Russia for the foreseeable future," Chris Weafer, head of strategy at Alfa Bank in Moscow, said in an interview with the Bloomberg agency, before the accord was announced.

date results (nine months) for the U.S. for total VC investment were $16.3 billion versus $15.9 billion last year or a growth rate of 3 percent. For the life science sector, VC investment levels were $4.2 billion or about 26 percent of the total investment. This level compares to $4.1 billion for last year or a growth of about 2 percent. It appears that life science venture investing is picking up in the last part of 2005.

Investment Solution Strategic Gazprom will pay $3.80 a share for the 72.7 percent stake owned by Abramovich, 38, and Russia's richest man, and his partners, according to Bloomberg calculations based on a statement of the stake size and total price that was released by Gazprom in Moscow today. The government sold 51 percent of Sibneft for $100 million at the end of 1996 before it changed hands and ended up in Abramovich's control. It's not publicly known how much of Sibneft Abramovich owns personally and how much he paid for the shares. Gazprom earlier bought 3.02 percent of Sibneft through its banking unit, Gazprombank, according to today's statement.

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Investment Banking Services Gazprom didnt give details of how it is funding the purchase in the statement. Spokesman Sergei Kupriyanov said the company will be borrowing money, declining to be more specific. Meanwhile as MosNews reported, Gazprom is said to have secured a $12 billion credit package from a consortium of Western banks including ABN Amro, Dresdner Bank and others.

Bank Investment Russian authorities are tightening the state's grip on the energy industry and creating government-run companies big enough to compete with Exxon Mobil, British Petroleum and Royal Dutch/Shell. Buying Sibneft will more than quadruple Gazproms crude oil output to 1.17 million barrels a day. The Kremlin controls another 1.5 million barrels a day through state-owned Rosneft which acquired lucrative production asset Yuganskneftegaz at a forced state auction in December 2004. Combined, that's more oil than Kuwait sells.

Alternative Investment Russia's five-year oil boom is stalling after the government raised tax rates and used $28 billion in back-tax claims to dismantle Yukos Oil Company, the country's biggest oil exporter last year. Yukos' former chief executive, Mikhail Khodorkovsky, was jailed for nine years on charges that he calls retribution for his support of Putin's political opponents. "A final decision on Sibneft will almost certainly trigger the endgame for Yukos," Alfa Bank's Weafer said.

Online Investment Services Gazprom is expanding into oil after the government raised its stake to a majority in June. In addition to the crude oil production, Gazprom's oil-refining capacity will rise almost sixfold, including the Omsk plant, Russia's second-biggest refiner this year. Sibneft will bring about 910,000 barrels of daily oil production under Kremlin control, representing about $50 million a day in revenue.

Accompany Essential Investment Sibnefts reserves were priced at $6.13 a barrel at the end of 2004, compared with $5.40 for Lukoil, Russia's biggest oil company, according to Adam Landes at Renaissance Capital in London. Those figures are based on the companies' enterprise value, or market capitalization plus net debt, and the reserves are adjusted as needed to approximate SEC standards. Russian oil companies are cheap on that basis compared with international producers. Exxon Mobil, the world's biggest investor-owned oil company, is worth $20.05 a barrel.

Investment Company Gazprom Chief Executive Alexei Miller, tapped by Putin four years ago to run Russia's biggest company, told shareholders in June he plans to build the world's biggest energy supplier, from oil and gas to electricity. Miller, who worked for Putin in St. Petersburg in the 1990s, was installed by the president to restore government control of Gazprom. Miller wants to have a similar balance as companies such as Exxon Mobil, BP and Shell- the worlds three largest investor-owned oil companies- where oil output accounts for about 55 percent of total production, Miller said then. After this transaction, it will be about 11 percent oil and 89 percent gas.

Investment Management Solution Gazprom extracts about 545 billion cubic meters of gas a year, the equivalent of 9.8 million barrels a day of oil. The company plans to supply 190 billion cubic meters of gas to Western Europe by 2010, up from 145 billion expected this year.

Investment Management Services Putin, who told money managers in the Kremlin in 2003 he would end foreign ownership limits, is seeking to restore investor confidence after the government levied $28 billion in back-tax claims against Yukos. The government bans foreigners from buying Russian-traded shares in Gazprom, restricting them to Gazproms American depositary receipts, which are about 25 percent more expensive than the local stock. Total foreign ownership in the company is now capped at 20 percent.

Guide Investment Stock Russia's gas export monopoly also plans to swap assets with international partners such as Shell, Statoil and BASF to gain access to new markets. The government has told BP and Shell they need to work with Gazprom to export gas from fields being developed in East Siberia and off Russia's Pacific Coast as international companies seek to supply soaring demand in Asia.

Investment Manual Solution Souce: Mosnews

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