Market Chatter - Corporate finance press digest

Sun Nov 11, 2012 11:07pm EST

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Nov 12 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Royal Bank of Scotland has kick-started the process to dispose of the 316-branch business rejected by Santander, formally appointing investment bank UBS to run the sale, the Telegraph reported on Sunday.

* General Motors Co is closing in on a deal to buy Ally Financial Inc's European and Latin America operations for around $4 billion, the Wall Street Journal reported citing a person familiar with the talks.

* Hertz Global Holdings Inc has tentatively agreed to sell around a dozen car rental locations at U.S. airports as a remedy to win over U.S. regulators for its proposed acquisition of Dollar Thrifty Automotive Group Inc, The Wall Street Journal reported on Sunday.

* Malaysia's Petronas aims to overcome Canada's opposition to its $5.2 billion bid for Progress Energy Resources by adding more independent directors to the board of the gas producer, the Financial Times reported.

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