Feed: Business Yahoo UK
Posted on: Thursday, May 09, 2013 18:39
Author: Business Yahoo UK
Subject: Miner ENRC's corporate brokers resign - sources
Investment banks Deutsche Bank and Morgan Stanley have resigned as corporate brokers to London-listed Kazakh miner ENRC , two sources with direct knowledge of the matter said. ENRC is facing allegations of illegal payments and fraud at its African and Kazakh operations, and Britain's Serious Fraud Office has launched a criminal investigation. It has also been weighed down by governance worries. Its trio of founder billionaires is considering a buyout of shares held by minority investors. The banks and ENRC all declined to comment. |
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