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  • Sep. 11, 2012, 9:56 AM

    More on Morgan Stanley Smith Barney (MSSB): A portion of the purchase will be carried out imminently, but maybe of most interest is neither company taking chances with MSSB's valuation 3 years out. Morgan (MS) has until June 2015 to purchase the final 35% from Citi (C) at the same $13.5B valuation. (PR)

    | Sep. 11, 2012, 9:56 AM
  • Sep. 11, 2012, 9:43 AM

    Morgan Stanley (MS) finalizes its deal to buy the rest of Morgan Stanley Smith Barney from Citigroup (C) no later than June 1, 2015 at an implied valuation of $13.5B, reports Reuters. The price seemingly represents a victory for Morgan, which bid $9B against Citi's $22B offer. A 3rd party appraiser recently finished its evaluation.

    | Sep. 11, 2012, 9:43 AM
  • Sep. 10, 2012, 7:32 AM
    A consultant's report is likely to value Morgan Stanley Smith Barney at about $15B, reports the NYPost, roughly halfway-in-between the $22B the seller (C) thought it was worth and the $9B value the buyer (MS) placed on it. Morgan's integration of its sales force with Citi's has been less than smooth.
    | Sep. 10, 2012, 7:32 AM
  • Aug. 29, 2012, 5:59 AM

    Morgan Stanley (MS) and Citigroup (C) have delayed setting a valuation for their Smith Barney brokerage JV from this week until Sept. 10. The postponement comes as the banks squabble over MS's purchase of a 14% stake from Citigroup; the latter values its 49% holding in the JV at $11B, while MS's bid represents 40% of that estimate. Perella Weinberg has been brought to help settle the dispute.

    | Aug. 29, 2012, 5:59 AM | 8 Comments
  • Aug. 7, 2012, 5:08 AM
    Citigroup (C) could take a charge of $3.2B-$6B on a writedown of its Smith Barney joint venture with Morgan Stanley (MS), analysts reckon. The lower estimate comes from Portales Partners and the higher one from Barclays. Citigroup and Morgan Stanley have hired Perella Weinberg to decide the value of a 14% stake in the JV that Citigroup is selling to Morgan Stanley.
    | Aug. 7, 2012, 5:08 AM | 1 Comment
  • Jul. 25, 2012, 7:08 AM

    Citigroup (C) and Morgan Stanley (MS) hire Perella Weinberg to appraise the value of Morgan Stanley Smith Barney. Citigroup, still holding a 49% stake and planning to sell more, values the brokerage at about $22B. Not surprisingly, Morgan - the buyer - sees a far lower value, reportedly $9B. (previous)

    | Jul. 25, 2012, 7:08 AM | 2 Comments
  • Jun. 28, 2012, 5:41 AM

    Veolia Environnement (VE) agrees to sell 90% of its regulated water unit in the U.K. for £1.24B ($1.92B) to Rift Acquisitions, a JV between Prudential (PUK) and Morgan Stanley (MS). The sale is part of Veolia's strategy to quit half the 70 countries it operates in and sell assets worth €5B by 2013 as it seeks to cut its debt to below €12B. (PR)

    | Jun. 28, 2012, 5:41 AM | 1 Comment
  • Jun. 6, 2012, 11:52 AM

    Morgan Stanley (MS +6.1%) is not interested in selling a minority stake in its commodities ops, nor the unit as a whole, MarketWatch reports, although the bank has received approaches from P-E firms. The article refutes an earlier story that MS is considering a sale of a minority holding. Seems like some press manipulation is going on.

    | Jun. 6, 2012, 11:52 AM
  • Jun. 6, 2012, 9:47 AM

    Lloyds (LYG +3.8%) continues its program of offloading non-core assets, confirming a report that it's agreed to sell £809M ($1.25B) of non-performing Australian real-estate loans to a Morgan Stanley (MS) and Blackstone (BX) JV for £388M. Lloyds, which lost £183M on the loans last year, will use the proceeds to repay its own debt.

    | Jun. 6, 2012, 9:47 AM
  • May 31, 2012, 8:57 AM

    Morgan Stanley (MS) notifies Citigroup (C) of its intention to purchase another 14% of Smith Barney. Morgan already owns 51% of the brokerage and received 2 months ago Fed approval to exercise its option to purchase this additional stake. (PR)

    | May 31, 2012, 8:57 AM
  • May 10, 2012, 6:51 AM
    Morgan Stanley (MS) steps out as a large stakeholder in KPN (KKPNY.PK) after a regulatory filing with Dutch regulator AFM tips off a 10.01% ownership stake. The firm made its move just three days before America Movil's (AMX) €8/share offer for the telecom company.
    | May 10, 2012, 6:51 AM | 1 Comment
  • Apr. 18, 2012, 11:13 AM
    The NY Fed asks eight dealers to bid for assets from Maiden Lane III, which, during AIG's (AIG) rescue, unwound CDSs that the company wrote by acquiring the underlying investments that the firm insured for banks. Those invited to the auction include Barclays (BCS), Citigroup (C), Goldman Sachs (GS), Merrill Lynch (BAC), and Morgan Stanley (MS).
    | Apr. 18, 2012, 11:13 AM
  • Jan. 25, 2012, 12:49 PM

    Morgan Stanley (MS) CEO James Gorman tells CNBC (video) his company is well-equipped to meet Basel III capital requirements, and has no need to raise additional funds in the near-term. Gorman also reiterates Morgan Stanley's commitment to buying a 14% stake in Morgan Stanley Smith Barney from Citigroup (C), stating the purchase takes priority over dividends and buybacks.

    | Jan. 25, 2012, 12:49 PM | 2 Comments
  • Jan. 23, 2012, 9:44 AM
    Morgan Stanley (MS -0.3%) reportedly is near a sale of its Quilter British wealth management business, which had £7.6B ($11.8B) in assets under management as of Dec. 31, to PE firm Bridgepoint. MS is looking to sell Quilter to focus on high-net-worth customers, while Quilter caters to the mass-affluent market with customers willing to invest up to $250K.
    | Jan. 23, 2012, 9:44 AM
  • Nov. 24, 2011, 5:37 AM

    Lloyds (LYG) sells A$1.7B ($1.75B) of distressed property loans in Australia and New Zealand to Morgan Stanley (MS) and Goldman Sachs (GS). Those who lost out in the bidding process include Blackstone (BX) and a consortium involving Deutsche Bank (DB). Lloyds shares +3.7% in London.

    | Nov. 24, 2011, 5:37 AM
  • Nov. 8, 2011, 10:24 AM

    Morgan Stanley (MS +1.2%) continues its capital-raising efforts: the bank says its infrastructure investing subsidiary has sold its 50% stake in Chilean electric utility SAESA to Alberta Investment Management, for an undisclosed amount. (previously)

    | Nov. 8, 2011, 10:24 AM