Ben van Beurden, chief executive of Shell, said he was "very pleased" with the outcome which will increase the size of Europe's largest oil and gas group but also herald a raft of asset sales and job cuts.
In its time in power, the AKP privatised a raft of public assets including Tekel, the state-owned tobacco and alcohol company, which it agreed to sell off as part of the "structural adjustments" attached to a $16bn loan agreement with the IMF.
And along with its smelters and bauxite deposits, it has a raft of less tasty downstream assets, such as a packaging business with pitiful margins.
One of them, Chancellor Angela Merkel of Germany, has become a close ally of Mr. Bush's, but the German economy has just slipped into recession, and its banks are suffering from having purchased a raft of toxic mortgage-related assets from the United States.
Similarly, Amgen, the largest holding in Mr. Kaul's portfolio on March 31, at 18.3 percent of assets, produces a raft of sought-after treatments, including the arthritis drug Enbrel.
It has sold a raft of state-run factories and assets to cronies in the private sector and appears to be lifting some of the punitive restrictions on the ownership of cars and motorcycles.
Could a computer not do an equally good job dishing out standardised guidance on how much they should invest respectively in shares, bonds and other assets?A raft of "automated wealth managers" is now available, on the premise that algorithms can offer sound financial advice for a small fraction of the price of a real-life adviser (see table).
RBS said last November it would create an internal "bad bank" to fence off its riskiest assets, part of a raft of measures designed to heal its relationship with the British government and speed up its eventual privatisation.
Fees: usually 2% of assets.
"This is a family, after all". Murdoch already owns a raft of newspapers, including the New York Post, as well as television and movie assets.
