May 28, 2013 / 12:10 AM / 5 years ago

PRESS DIGEST - Financial Times - May 28

May 28 (Reuters) - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.


Co-op appoints former HSBC executive


Valeant in $8.7 bln Bausch & Lomb deal


Crown Estate in tie-up with Canadian pension fund


Club Med to be taken over in 556-mln-euro deal


Diageo closer to control of India’s United Spirits


UK and France win battle to lift EU’s Syria arms embargo



Britain’s Co-operative Group Ltd has named former 30-year veteran HSBC Holdings Plc banker Niall Booker as the man to lead its banking arm as the lender struggles to deal with concerns over its capital position.

Canadian drugmaker Valeant Pharmaceuticals International said on Monday it agreed to buy privately held ophthalmology business Bausch & Lomb Holdings Inc from Warburg Pincus LLC for $8.7 billion.

The Crown Estate, which manages an 8-billion-pound property empire for the Queen, has joined forces with Ontario Municipal Employees Retirement System in a 320-million-pound deal to fund a part of an overhaul of St James’s Market area in central London.

French holiday firm Club Mediterranee’s top shareholders, Fosun International and AXA Private Equity, said on Monday they would team up to takeover the group in a deal that values it at around 556 million euros.

India’s United Spirits Ltd on Monday approved the allotment of 10 percent of its enlarged capitalisation on a preferential basis for around 300 million pounds to Diageo Plc , the world’s biggest distiller by sales.

Britain and France can now freely supply weapons to the rebels groups in Syria as the European Union agreed to lift the arms embargo in the country amid deep reluctance from other member states.

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