Market Chatter - Corporate finance press digest

BANGALORE, April 18 Wed Apr 18, 2012 12:14am EDT

BANGALORE, April 18 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Pfizer Inc is near a deal to sell its baby formula business to Swiss food giant Nestle SA for at least $9 billion, the Wall Street Journal reported on Tuesday.

* Canada will propose drastically cutting the number of industrial projects that must undergo federal environmental reviews, the Globe and Mail newspaper reported on Tuesday.

* China is raising the minimum level of reserves financial firms must set aside as a percentage of total risk assets to 1.5 percent from 1 percent, to reduce dangers in the sector, state media said.

* Sovereign wealth fund Government of Singapore Investment Corp (GIC) has begun talks with India's GVK Group to buy a stake in one of its units that owns Australia's Hancock Coal, the Financial Express newspaper reported, citing two people familiar with the development.

* Japan's Sony Corp is in talks with Taiwan's AU Optronics Corp to jointly produce next-generation OLED televisions, the Yomiuri Shimbun reported, positioning itself for the post-liquid crystal display (LCD) TV market.