An auction for a 50.9% stake in Moscow electric power trader Mosenergosbyt was won Wednesday by unknown firm Korporativno-trustoviye proyekty, which paid 11.3 bln rubles ($478 mln), Russia’s electricity monopoly said.
The controlling stake, which was sold at the starting price, was contested by two bidders, Unified Energy System of Russia (UES) said.
Mosenergobyt supplies electric power […]

Western Asset Premier Bond Fund (NYSE:WEA) today announced actions that would restructure the Fund’s leverage and provide liquidity to holders of its auction rate preferred shares (“ARPS”) on terms and conditions management and the Board of the Fund believe are in the best interests of both the common and preferred shareholders of the Fund. This […]

KINGSTON, Pa - DIAMOND GLASS announced today that in response to requests from potential bidders for additional time to conduct due diligence it agreed to extend for two weeks all deadlines for submitting bids and participating in the auction. Under the new schedule, letters of intent will be due on June 10, bids will be […]

HOUSTON - The Oil & Gas Asset Clearinghouse (”The Clearinghouse”), a leading provider of acquisition and divestiture services for oil and gas properties, announced that it sold more than $92 Million in properties at its Hybrid auction held April 16th in Houston. The Clearinghouse offered 223 lots at this Selective Offering(TM), including many higher-valued, notable […]

Auto-parts supplier Plastech Engineered Products Inc. plans to auction off its main businesses and is negotiating a sale of its interiors business to rival parts maker Johnson Controls Inc.
Plastech is asking the U.S. Bankruptcy Court in Detroit to approve bidding rules and set a June 16 auction.

The Brazilian government has auctioned the Jirau hydroelectric power plant, to be built on the Madeira River in the State of Rondônia.
The auction was won by the Sustainable Energy of Brazil consortium, composed of Suez (50.1%), Camargo Corrêa (9.9%), Eletrosul (20%), and Chesf (20%).
The group’s proposal was R$ 71.40/MWh (US$ 43.39 /MWh), 21.6% below the […]

VALLEY FORGE, Pa - PJM Interconnection’s recently completed Reliability Pricing Model (RPM) auction produced a large increase in generation and demand resources and a lower price than the last auction. Results of the auction for the planning year, June 2011 through May 2012, were posted today. This auction was the first that included a full […]

Royal Bank of Scotland’s £7bn ($13.6bn) auction for its UK insurance business has received a lukewarm response from potential buyers, with Warren Buffett’s Berkshire Hathaway pulling out of the bidding and there are doubts over the level of interest from Germany’s Allianz.
RBS has targeted eight potential trade buyers, including American International Group, Allstate and Travelers […]

NEW YORK - TFS Energy, LLC, a leading interdealer broker and a subsidiary of Compagnie Financière Tradition, today announced its US weather derivatives division completed a Dutch auction for Madison, WI and Cedar Rapids, IA, on behalf of a client who was looking to offset its risk. Offers were solicited for cumulative average temperature calls […]

Americas Watchdog is offering to help all victims of the auction rate securities scandal. The group has termed the auction rate securities debacle, “the single worst case of fraud in US history”. Why is this the biggest case of fraud in US history? Over 100,000 US citizens were told by their name brand US bank, […]