Jan 30 The following corporate finance-related
stories were reported by media on Wednesday:
* Monte dei Paschi's risk control unit and its
internal audit committee had expressed serious misgivings about
the bank's finance department, now at the centre of a scandal
about shady structured finance trades, as far back as November
2009, according to internal documents.
* There is a new twist in the London Whale trading scandal
that cost JPMorgan Chase $6.2 billion in trading losses
last year. Some of the firm's own traders bet against the very
derivatives positions placed by its chief investment office,
said three people familiar with the matter.
* Royal Bank of Scotland is winding down its mergers
and acquisitions business after failing to secure a buyer for
the division, the Financial Times reported. The largely
taxpayer-owned bank made most of its 40 or so M&A bankers
redundant at the end of last year, two people close to the
situation told the paper.
* Thermo Fisher Scientific Inc is considering making
an offer for Life Technologies Corp, the biomedical
laboratory equipment maker that is exploring a potential sale,
three people familiar with the matter said.
* Deutsche Bank's global head of oil and
agriculture trading, John Redpath, has left the firm, a source
familiar with the matter said.
* Spain's Repsol is negotiating the sale of a block
of liquefied natural gas assets with more than one international
bidder and expects to finalise a deal in the coming weeks, a
source with knowledge of the matter said.
* DuPont is exploring the sale of its cyanide
business and has hired investment bank Morgan Stanley to run the
sale process, according to three sources familiar with the
* German real estate group LEG Immobilien has
narrowed the indicative price range for its planned listing on
the Frankfurt stock exchange, three people close to the process
* Gregory Peters, Morgan Stanley's chief global asset
strategist, is leaving after 12 years with the investment bank
and wealth manager to pursue opportunities on the buyside,
people familiar with the matter said.
* Private equity fund MBK Partners has expressed interest in
acquiring ING Groep NV's South Korean insurance unit,
the Korea Economic Daily reported Wednesday.
* The sale of German insulation firm Armacell by its
Bahrain-based private equity owner Investcorp has attracted six
bidders as interest grows in companies making energy-efficient
products, two people familiar with the transaction said.
* Private equity firms Apollo Global Management LLC
and C. Dean Metropoulos & Co are near a deal to buy snack cake
brands including Twinkies from bankrupt Hostess Brands
, according to a source familiar with the matter.