Finnish utility Fortum confirmed on Friday it has won an auction in Russia to acquire a controlling stake in utility TGK-10.
Fortum said the value of the transaction is about 2.7 billion euros ($4.1 billion) if it gets a 100 percent holding in the company. It plans to use long-term loans to finance the deal.

The Restricted Securities Trading Network (RSTN) (www.RestrictedSecurities.net) will begin trading auction-rate securities on Monday, March 3, 2008, creating a much-needed secondary market for the $330 billion asset class.
Over the past few weeks, the lack of a public market for auction-rate securities has left investors holding a large number of securities that failed to sell at […]

Duke Energy announced today that it has begun to implement a comprehensive plan to refund and refinance substantially all of the approximately $883 million portfolio of tax exempt auction rate bonds issued on behalf of its utility subsidiaries.
The subsidiaries, Duke Energy Carolinas LLC, Duke Energy Ohio Inc., Duke Energy Indiana Inc. and Duke Energy Kentucky […]

The Reserve Bank of India (RBI) has suggested that the government should auction surplus funds in the system rather than parking it with RBI at the end of the financial year.
According to sources close to the development, the suggestion follows the liquidity crunch in the market, which arises before March-end every year.
Even if the funds […]

Oil and gas leases for 52 parcels of land will be auctioned Tuesday at 9 a.m. at the Bureau of Land Management office, 440 W. 200 South, Salt Lake City.
Originally 57 parcels were being considered for leases, but five were deferred “due to wildlife issues such as sage grouse,” BLM officials said Friday in a […]

The broad auction-rate preferred securities market has experienced some disruption in the past few months, but those disruptions have increased dramatically in recent days. The result has been an increasing number of failed auctions on many, if not all, auction-rate preferred shares (“ARPS”) linked to tax-exempt and taxable closed-end funds. We believe this increase in […]

The U.S. Federal Reserve said Tuesday it had auctioned 30 billion U.S. dollars in funds to commercial banks Monday in an effort to deal with the persistent credit crunch.
This was the central bank’s fifth auction aimed at injecting more money into the banking system since mid-December, when the Fed established […]

The Federal Subsurface Resources Agency (Rosnedra) has canceled an auction due February 13 for the rights to mine gold at the Most and Vidny sections of the Allakh-Yun placer deposit in Yakutia.
“The agency did not say why the auction was canceled, but there could be a […]

E.ON AG of Germany, will sell natural gas from its supply contracts for the sixth time at an auction on May 7 as European Union regulators try to boost competition in the region’s energy markets.
E.ON’s Ruhrgas unit, Germany’s largest gas company, will have to sell a total of 33 billion kilowatt-hours over a contract period […]

TOMS RIVER, N.J., - The Board of Directors of Shore Community Bank , declared a 3% stock dividend payable March 10, 2008 to shareholders of record on February 25, 2008.
A public auction of the fractional shares will be held on Monday, March 10, 2008, 10:00 a.m. at the Bank’s Corporate Headquarters located at 1012 Hooper […]