Pernod Ricard SA has won an auction to acquire Sweden’s Vin & Sprit AB, with the global drinks giant beating out Fortune Brands Inc. of the U.S. to become the owner of the prized Absolut vodka brand, people familiar with the matter said.
The details of the winning bid weren’t immediately clear, but V&S, which is […]

The Federal Reserve will auction another 100 billion dollars in April, continuing its efforts to deal with the effects of a credit crisis, the U.S. central bank announced Friday.
Two auctions will be held, on April 7 and 21 respectively, and each offers 50 billion dollars, the Fed said in a press […]

A multibillion-dollar auction to privatize one of Brazil’s largest electrical power producers was canceled Tuesday after possible buyers suggested they wouldn’t offer the minimum bid, Sao Paulo state Gov. Jose Serra said.
Sao Paulo’s state government set the minimum bid to buy Companhia Energetica de Sao Paulo SA at 6.6 billion reals ($3.8 billion). But […]

Merrill Lynch & Co and Morgan Stanley were sued on Tuesday by clients accusing them of deceptively marketing auction rate securities.
The two separate lawsuits, filed in U.S. federal court in Manhattan, are seeking class action status.
Auction rate securities refers to a debt instrument (corporate or municipal bonds) with a long-term nominal maturity for which the […]

The Federal Reserve will auction $50 billion in 28-day credit on Monday through its Term Auction Facility (TAF), the central bank announced.
The Fed will accept bids Monday from 11 a.m. to 1 p.m. EDT. Auction results will be announced at 10 a.m. on March 25. Loans will settle on March 27 and mature on April […]

The sale of Somerfield is going ahead, defying speculation that the auction had been abandoned. Sources said Robert Tchenguiz, part-owner of the £2bn supermarket chain, is still hopeful a sale can be agreed.
The Co-operative group was thought to be the only bidder to have tabled an offer for the retailer before the first-round auction deadline […]

SALT LAKE CITY - Zions Bancorporation announced today that it successfully sold via an online auction $66,688,000 of one-year senior notes with a 5.00% coupon. Using the online platform at auctions.zionsdirect.com, a Web site owned and operated by Zions Direct, $2,000,000 in notes were sold to institutions and individuals participating in the auction. In addition, […]

EDF has organized an initial auction aimed at alternative electricity suppliers in France, covering basic electricity supply contracts, for a period of up to 15 years. This auction is in accordance with the decision of the French Competition Council.
EDF said that, overall, 12 companies took part in this initial auction which allowed five companies to […]

Oil and Natural Gas Corporation Ltd. (ONGC), the largest Oil & Gas Exploration and Production company in Asia achieved another first by becoming the only PSU to introduce SAP powered “Reverse Auction” process. Termed as “Live Action Cockpit” (LAC), the system will enable ONGC to collect and compare price and bid information of various suppliers […]

British private equity group Sovereign Capital is reported to have won the auction to buy World Class Learning Schools for around $75m. Sovereign wants to increase its presence in the Middle East, where it already runs a school in Qatar.