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Private equity groups Blackstone Group and Apollo Management are in talks to buy Chemtura Corp. and have been working to line up financing for a potential deal, the Financial Times reported. If successful, a takeover of Chemtura would rank as one of the largest U.S. private equity deals this year. Chemtura, a manufacturer and marketer of specialty chemicals based in Middlebury, Conn., U.S.A., reportedly has been talking with potential buyers for months. The company has a market capitalization of US$2 billion and a total debt of US$1.09 billion at the end of the first quarter. (May 27, 2008)
 
Indonesia raised fuel prices by an average 28.7% percent effective May 24, to help cut a surging subsidy bill that has hit the government's 2008 budget. Indonesia has some of the lowest fuel prices in Asia, but with parliamentary and presidential elections due in 2009, the government has tried to resist cutting fuel subsidies. However as the price of crude oil set new records, the government has come under increasing pressure to address its ballooning subsidy bill and widening budget deficit. (May 24, 2008)
 

Kyung J. Kim, a former Lubrizol Corp. employee, pleaded guilty to one count of theft of trade secrets conspiracy and to two counts of theft of trade secrets before the U.S. District Court in Cleveland, Ohio, on April 8. Kim, 62, of Broadview Heights, Ohio, was a senior research and development associate at Lubrizol Advanced Materials, Inc. Sentencing is scheduled for July 8. Kim potentially faces two years imprisonment plus financial restitution to Wickliffe, Ohio-based Lubrizol Corp., according to his counsel Richard G. Lillie. (May 22, 2008)

 
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