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  • Serge Durox of Coudert Frères, Paris, assesses the impact of new regulations on private placements and identifies the outstanding issues for prospective borrowers
  • Europe-Polish Zloty (PLN) to be fully convertible by the year 2000
  • Europe-Internet transactions may be conducted by use of The Dankort
  • US firm Curtis, Mallet-Prevost, Colt & Mosle is opening an office in Stamford, Connecticut. The firm hopes to build on its corporate and litigation work. George Kahale, firm managing partner, comments: “Stamford is a growing area with a lot of corporate activity, several firms have offices there.”
  • On April 23 1999, the Commission approved the takeover of Bankers Trust Corporation by Deutsche Bank.
  • The Capital Markets: Irish and International Laws and Regulations By Agnes Foy (Round Hall Sweet & Maxwell, 1998) Reviewed By Mark Walsh, Partner, Brown & Wood, London and New York*
  • The UK’s General Electric Company (GEC) is buying Fore Systems, a Pittsburgh-based Internet equipment supplier. GEC recently agreed to sell its defence business to British Aerospace and is now concentrating on building up its telecoms and Internet capabilities. This acquisition follows GEC’s purchase of US telecoms company, Reltec.
  • Swiss pharmaceuticals company Novartis is selling its Wasa crispbread unit to Italy’s Barilla Alimentare. The Italian food company is paying Sfr475 million ($315 million) including debt. The deal is part of Novartis’s move to refocus its consumer health division.
  • Pillsbury Madison & Sutro, a San Francisco firm, has lost its executive director, a substantial group of compensation and benefits lawyers, and has had to fire another nine partners.
  • Nicholas Moller of Baker & McKenzie, Sydney, formerly of Siam Niti Law Office, Thailand explains how to set up effective security structures for Thai projects