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  • Decapping of commission in South AfricaDeneys Reitz Inc, Johannesburg
  • WorldCom is acquiring Intermedia, a US broadband communications company, for $6 billion. The deal gives WorldCom a 54% controlling interest in Digex, a provider of application services for internet-based businesses.
  • Dutch auction issuer bids find marketHouthoff Buruma, Amsterdam
  • Lovells is to open two Italian offices, in Milan and Rome, this month. In its first foray into the Italian market the firm has got off to a good start with the appointment of three partners from leading Italian firms, Pavia e Ansaldo and Gianni Origoni & Partners.
  • Liz Jones of Norton Rose, London, explains how Bristol & West became the first to securitize buy-to-let mortgages, and looks at how this innovative structure differs from traditional deals
  • Dresdner Bank is buying US investment bank Wasserstein Perella for $1.6 billion. Wasserstein is a well respected M&A boutique. Dresdner says it will combine its Dresdner Kleinwort Benson investment banking division with Wasserstein under the name Dresdner Kleinwort Wasserstein.
  • Rachel Robbins, JP Morgan
  • Linklaters is advising French wine and spirits company, Remy Cointreau, on the acquisition of Bols Royal Distilleries of the Netherlands. Remy Cointreau will acquire 100% of Bols Royal Distilleries for euro 510 million ($446 million), payable partly in cash and partly in Remy Cointreau shares. The combined company will have a stronger presence worldwide, particularly in central and eastern Europe where Bols is a market leader.
  • Laurie Adams
  • On September 6 the boards of Euroclear, the Brussels Stock Exchange (BXS) and the Amsterdam Stock Exchange (AEX) annouced the signing of a memorandum of understanding in relation to the proposed merger of the Belgian and Dutch central securities depositaries, CIK and Negicef respectively, into the Euroclear group.