Business news for Mon, 31 Dec 2007 & with words investment+london. 3 news.

LONDON (MarketWatch) -- Kirk Kerkorian's Tracinda is going to buy 35% of Delta Petroleum for $684 million, or $19 a share, the companies said Monday. The investment is at 23% premium to Friday's close. This transaction will allow Delta Petroleum to accelerate development drilling activities in its core areas, including the Piceance and Paradox Basins. "Under (CEO) Roger (Parker's) leadership, Delta Petroleum has become a very important company in the industry, with valuable resource plays, a strong asset base and well-positioned exploration projects that we believe hold significant growth potential," Tracinda said.

LONDON (MarketWatch) -- Merrill Lynch on Monday completed a previously announced deal with Aegon , where it's selling its life insurance unit for $1.25 billion in cash. Aegon's Transamerica companies will continue to supply insurance and investment products, including offering the flagship Merrill Lynch Investor Choice Annuity product through the acquired Merrill Lynch subsidiaries. Merrill Lynch expects to record a gain on sale during the fourth quarter of 2007 and anticipates the transaction to be slightly accretive to earnings per share and to have a positive effect on return on equity in 2008 after redeployment of proceeds. Aegon expects the acquisition to add scale to its existing business and to have a marginally positive effect on earnings per share.

LONDON (MarketWatch) -- Blue Oar , a U.K. stockbroker and investment bank, said underlying pretax profit for the year will be broadly in line with expectations, with "significant" net cash. "We are confident that the restructuring of the group and the investment made in our platform in 2007 will deliver major benefits in 2008 and beyond, subject of course to market conditions," said CEO Andrew Monk.