UPDATE 1-CanWest switches to bridge financing for Alliance

(Reuters) - CanWest, Canada's biggest media company, along with a
private-equity affiliate of Goldman Sachs have agreed to
pay C$53 a share to buy Alliance Atlantis, co-producer of the
hit "CSI: Crime Scene Investigation" TV show, and owner of
Canadian specialty-TV channels.




CanWest's AA Acquisition Corp., which will acquire
Alliance, has written commitments from its banking syndicate
for bridge financing to complete the deal, the companies said
in separate statements.


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CORRECTED - RLPC-Continental funds VDO buy with 13.5 bln euro loan

(Reuters) - The financing package, which funds the acquisition and
refinances existing debt, is being arranged by Citigroup and
Goldman Sachs, the source told Reuters Loan Pricing Corp.




Continental is acquiring Siemens VDO for 11.4 billion euros,
in a deal that will create one of the leading automotive
electronics suppliers.


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CEVA revises $1.4 bln high-yield note sale -lead

(Reuters) - All of the notes are available in euros and dollars. Price
guidance is due later on Thursday, with pricing expected early
next week, the bank said.




Credit Suisse, Goldman Sachs, Morgan Stanley, Bear Stearns,
UBS, JP Morgan and ABN AMRO are managing the sale.


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Infosys may announce European buy on Wednesday-TV

(Reuters) - A spokeswoman for Nasdaq-listed Infosys declined
comment.




Local media had earlier reported that Infosys, whose
customers include ABN AMRO , Goldman Sachs and
Airbus , was close to acquiring the finance and
accounting back-office services arm of Dutch consumer
electronics group Philips .


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REFILE-S&P slashes "AAA" ratings on some mortgage bonds

(Reuters) - Eight classes of mortgage bonds, including some issued by a
Goldman Sachs Group Inc. trust, were cut to "BBB" from
"AAA" as S&P applied its new assumptions, it said.




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Murdoch to be talk of Sun Valley media festival

(Reuters) - Participants will watch closely for any move by the 76-year-old chief executive of News Corp., including a sudden departure from the event, as a sign of a deal that would give him control of The Wall Street Journal, one of the world's most influential business media outlets.




News Corp. hired Allen & Co., the media industry's go-to bankers, to advise on the bid. Perhaps that is one reason why Dow Jones CEO Richard Zannino, a fixture at last year's Sun Valley but who hired Goldman Sachs, is not on the invitation list this year.


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UPATE 1-Validus sets IPO at 15.7 mln shares, $24-$26 each

(Reuters) - The Bermuda-based provider of reinsurance plans to sell
13.4 million shares, while stockholders plan to sell an
additional 2.2 million shares, according to an amended filing
with the U.S. Securities and Exchange Commission.




Goldman Sachs and Merrill Lynch are lead underwriters, the
filing said. Validus intends to list its stock on the New York
Stock Exchange under the symbol "VR" .


Read more at Reuters.com Government Filings News

Spanish Realtor Colonial May Pledge Assets on $9.7 Billion Loan Amid Slump

(Bloomberg) -- Inmobiliaria Colonial SA, Spain's
second-biggest realtor, may put up collateral because its bankers
can't attract enough investors to a 7.2 billion-euro ($9.7
billion) loan for the company, people involved in the deal said.

Goldman Sachs Group Inc., Royal Bank of Scotland Group Plc,
Calyon and Eurohypo AG, which have underwritten the sale, want
Colonial to pledge its 1.3 billion-euro stake in builder Fomento
de Construcciones & Contratas, said two people who declined to be
identified because the terms aren't set.


Read more at Bloomberg Bonds News

Goldman has a 5 percent stake in Invesco - filing

(Reuters) - A Goldman Sachs spokesman declined to comment beyond the
public disclosure of the stake. Invesco
was not immediately available for further comment.




Invesco had assets under management of about $491 billion
as of May 31.


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GM shares rise on Goldman Sachs upgrade

(Reuters) - "GM can make a compelling case to UAW members that material wage and benefit cuts are needed," Goldman Sachs analyst Robert Barry said in a research note. "And we suspect members and retirees are increasingly amenable to such cuts."




Barry also said that the "UAW pattern bargaining implies positive read across for Ford ."


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Goldman Sachs, Fidelity May Be Forced to Reduce Stakes in Indian Exchanges

(Bloomberg) -- Goldman Sachs Group Inc. and
Fidelity International Ltd. may be forced to pare their stakes
in India's biggest commodity exchanges should the government
push through a plan to cap investment.

The Reserve Bank of India may limit ownership in the
commodity bourses to 5 percent for a single investor, mirroring
rules set for stock exchanges, Yashwant Bhave, secretary at the
department of Consumer Affairs, said in a June 14 interview.


Read more at Bloomberg Emerging Markets News

US STOCKS-Wall St rallies on tamer inflation, Intel

(Reuters) - NEW YORK, June 15 - U.S. stocks climbed on Friday
on reassuring inflation news and fresh optimism about the tech
sector after an upgrade of bellwether Intel.




A 4.1 percent jump in the shares of Intel Corp.
triggered an advance in technology stocks after Goldman Sachs
raised its rating on the world's dominant chip maker, to "buy"
from "neutral." A flurry of deal news also lent support,
following a report that the New York Mercantile Exchange
was exploring a sale. Shares of the NYMEX, the world's
largest energy market, rose 2.9 percent.


Read more at Reuters.com Bonds News

US STOCKS-Futures rise on Intel upgrade; CPI on tap

(Reuters) - NEW YORK, June 15 - U.S. stock futures signaled a
higher open on Friday, with technology shares likely to
underpin gains after a broker upgrade of Intel Corp. ,
but investors were cautious ahead of key U.S. inflation data.




Intel shares jumped 2 percent in electronic trade after
Goldman Sachs raised its rating on the chipmaker, a component
of the Dow Jones industrial average , to "buy" from
"neutral."


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Wall Street Gets Boost From SEC Regulation, May Earn Another $4.4 Billion

(Bloomberg) -- Never mind that Wall Street's profit
growth in the second quarter probably was the worst in two
years. A new regulation relieving capital restraints may enable
the biggest U.S. securities firms to make the rest of 2007
exceptional for shareholders.

Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch &
Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos. have
the potential to earn $4.4 billion more annually as early as
next year by moving money out of safe investments into higher-
returning bets, said Dorothy Leas, a former treasurer at Paine
Webber Group Inc. and Cowen Group Inc. The earnings gain, which
would equal 14 percent of the New York-based firms' record
profits of 2006, follows a rule change that allows them to hold
less money in reserve for potential losses.


Read more at Bloomberg Currencies News

Rexam says eyeing Owens-Illinois plastics unit

(Reuters) - LONDON, June 8 - Britain's Rexam Plc , the world's biggest can maker, said on Friday it was in talks about buying the plastics division of U.S. packaging company Owens-Illinois Inc .



"An acquisition, if agreed, would only occur on conditions which meet Rexam's investment returns criteria and is likely to be funded from a combination of its Glass disposal proceeds, debt and an element of equity," Rexam said in a statement. On Jan. 12, Owens-Illinois, which had previously indicated it might sell its plastics packaging business, said it had hired Goldman Sachs to review strategic options for the unit including a possible sale.


Read more at Reuters.com Mergers News

UPDATE 1-Pogo Producing to sell Northrock for $2 billion

(Reuters) - Northrock, which includes properties located largely in
Alberta, Saskatchewan and the Northwest Territories of Canada,
produces about 29,000 barrels of oil equivalent per day. It had
about 706 estimated proven reserves as of December 31.




The deal is expected to close in the third quarter. Pogo
said Goldman Sachs Group and TD Securities Inc. would continue
to serve as its financial advisers as it explores other
strategic options.


Read more at Reuters.com Mergers News

Pogo Producing to sell Northrock for $2 billion

(Reuters) - The deal is expected to close in the third quarter. Pogo said Goldman Sachs Group and TD Securities Inc. would continue to serve as its financial advisers as it explores other strategic options.




Read more at Reuters.com Business News