IN BRIEF (Page 16)

Ikea's warning

Ikea, the world's largest home-furnishings retailer, may halt its investment plans in Poland if a law limiting the size of commercial outlets isn't changed, Wall Street Journal Polska said, citing the company.

According to Wojciech Dzwonkowski, investment director at Inter Ikea Centre Polska, leaving the law in its present form could lead to an outflow of capital from the European Union's largest eastern member as companies choose other countries in Europe to invest in, the newspaper said.

Airline purchase

Kingplace Ltd, a company managed by Swiss trust Heritage Cie SA, has agreed to buy Silverjet Plc out of administration and restart the airline.

The sale was for an undisclosed sum and is expected to be completed by tomorrow, administrators Nigel Atkinson and Mark Fry of Begbies Traynor, and Silverjet, said in an e-mailed statement yesterday.

Bakala eyes railways

Zdenek Bakala, the billionaire Czech coal baron, said he may make acquisitions in the rail industry and raise funds with initial public offerings.

There are "significant opportunities" in regional railways as the Czech Republic and neighboring countries consider selling freight train operators, Bakala said in Prague.

Expansion plans

Aegon NV, the owner of US insurer Transamerica Corp, has 1 billion euros available to expand in Central and Eastern Europe over the next five years.

Aegon will probably make acquisitions and invest in partnerships and distribution agreements, Chief Executive Officer Alexander Wynaendts said in an interview at the company's headquarters in The Hague.

Foster's future

Foster's Group Ltd, Australia's biggest beer and winemaker, may get takeover approaches as it conducts a review of its global wine business, analysts including David Errington of Merrill Lynch & Co said.

Chairman David Crawford will oversee the review and consider "all alternatives" for the world's second-largest winemaker, with assets in the United States, Australia and Europe. Foster's rose 2.8 percent, valuing the Melbourne-based company at A$10.8 billion ($10 billion).

Acquisition agreed

Staples Inc, the world's largest office-supplies retailer, agreed to buy Corporate Express NV for 9.25 euros a share to expand in direct distribution of office products to companies.

Corporate Express's supervisory and executive boards unanimously recommended the offer, Framingham, Massachusetts- based Staples said yesterday in a Business Wire statement.

Johnson Service plunges

Johnson Service Group Plc, the UK work wear provider that has lost 93 percent of its market value in the past year, plunged in London trading after saying it plans to raise 30 million pounds by selling shares.

Johnson lost 4 pence, or 17 percent, to 20 pence at 8:26 am, cutting the London-based company's market value to 11.9 million pounds. Johnson will sell 150 million shares at 20 pence apiece, a 17 percent discount to Tuesday's close, to help repay debt, it said.

'No deal'

Billionaires Alexei Mordashov and John Fredriksen, who own more than a fifth of TUI AG's stock, have not discussed possible uses for the proceeds from selling the company's Hapag-Lloyd shipping unit.

The investors have held no talks, nor have they reached any agreement on the disposal, Irina Pchelova, a spokeswoman for Mordashov investment company S-Group Capital Management Ltd, said yesterday by telephone.

Agencies

(China Daily 06/12/2008 page16)