Market Chatter-Corporate finance press digest
March 12 |
March 12 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:
* The board of MGM, the storied Hollywood studio that exited bankruptcy in 2010, will discuss a long-awaited initial stock offering when it meets on March 18 amid indications that debt-holders who control the company may be nearing a decision to file, according to three people with knowledge of the communication.
* Commerzbank AG, Germany's second-biggest lender, is exploring a sale of the UK property business of its mortgage unit Hypothekenbank Frankfurt International, a person familiar with the matter said on Monday.
* Yankee Candle Co Inc, the largest scented candle company in the United States, is being prepared for a sale by its private equity owner, three people familiar with the matter said on Monday.
* Global miner Rio Tinto has slowed progress of its multi-billion investment in Guinea's untapped Simandou iron ore deposit and slashed staff, government sources in the West African country said on Monday.
* Cairn India, controlled by Anil Agarwal-led Vedanta Resources Plc, is evaluating the possibility of taking over parent UK-based Cairn Energy, the Hindustan Times reported, citing sources within the group.
* Apollo Global Management -backed company Constellium, which makes aluminum products for the aerospace and transportation industry, is starting to interview banks for an initial public offering, according to two sources familiar with the situation.
* E-commerce company FiftyOne, which helps online retailers ship their products internationally, has hired banks for an initial public offering that could come later this year, according to two sources familiar with the matter.
* Japanese bank Nomura is seeking to establish British jurisdiction for its dispute with Monte dei Paschi di Siena over risky derivatives trades, a source close to the matter said on Monday.
* Royal Bank of Scotland is sounding out some of Britain's biggest investment firms on their appetite for a stock market listing of the bank's small business lending arm, investor sources close to the talks said.
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