Market Chatter- Corporate finance press digest
Nov 25 (Reuters) - The following corporate finance-related stories were reported by media:
* Engineering services group Babcock is in exclusive discussions to take a stake in helicopter transport services company Avincis, a source close to the situation said on Sunday.
* Swatch Group has raised its stake in Rivoli Investments LLC to take control of the Dubai-based retail group, a move that will give it better control of its retail network in the fast-growing Middle Eastern market.
* Tornos Holding's largest shareholder, Walter Fust, will launch a public takeover offer for all publicly held registered shares of Tornos at a price of 4.70 Swiss francs per share, the company said on Monday.
* Etisalat has told Pakistan it will not pay the $800 million it owes the government from buying a stake in the country's state telecom operator until a property dispute is entirely resolved, two senior finance ministry sources said.
* Tomkins Plc is exploring a sale that could value the private equity-owned global manufacturer of auto parts and building products at as much as $7 billion, several people familiar with the matter said on Friday.
* A group of 10 investors, including Norway's sovereign wealth fund and Och-Ziff Capital Management Group LLC, have together committed to buy about $1.1 billion of China Cinda Asset Management Corp as part of its Hong Kong IPO, people familiar with the matter said on Sunday.
* Apache Corp is in talks with Argentina's state-controlled energy company YPF about a possible sale of its assets in the South American country, sources told Reuters on Friday.
* France's largest telecom operator Orange SA is close to reaching an agreement with Altice on the sale of its Dominican Republic business, Bloomberg reported on Sunday citing three people familiar with the matter.
* Cairn India Ltd, oil and gas unit of London-listed Vedanta Resources, is set to spend about $1 billion to buy back shares, Bloomberg reported on Sunday citing two people familiar with the matter.
* German construction and machinery group Bauer is planning to cut its workforce by as much as 3 percent, its chief executive told a newspaper after the company warned it would post a loss this year.
- Malaysia Airlines plane missing at sea off Vietnam, presumed crashed |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Malaysian plane crashed off Vietnam coast: state media
- No signal picked up from missing Malaysia Airlines plane-Vietnam official