Cyprus seeks salvation in Russia and the Church. Cypriot President Nicos Anastasiades has been holding emergency meetings with party leaders and troika representatives after the country’s parliament rejected a proposal to tax bank deposits as part of an EU bailout. Salvation could come from Cyprus’s orthodox church, which has offered to mortgage its considerable assets in order to invest in government bonds. Meanwhile, Finance Minister Michael Sarris is in Moscow to see if he can get a deal out of the Russians.
American Realty offers $5.7B for Cole Credit Property Trust. American Realty Capital Properties (ARCP) has offered to acquire Cole Credit Property Trust for $5.7B in cash and stock, or over $9B including debt, in a deal that would create the biggest publicly traded REIT in the net lease sector. American Realty has also asked Cole to end the purchase of its external adviser, Cole