March 18 The following corporate finance-related
stories were reported by media over the weekend and on Monday:
* Marks & Spencer Group Plc was at the centre of
fresh bid speculation after The Sunday Times said that the Qatar
Investment Authority, the Gulf state's sovereign wealth
fund, wants to assemble a consortium to mount an 8-billion-pound
($12 billion) takeover of Britain's biggest clothing retailer.
However, a source close to Qatar Holding told Reuters on
Monday it is not considering a bid for Marks & Spencer.
* India's Hindalco Industries Ltd and
London-listed Vedanta Resources Plc have separately
shown an interest in buying a piece of Rio Tinto's
iron ore operations in Canada, said The Wall Street
* The Indian government is quickly pushing ahead with a
blockbuster share sale worth 200 billion rupees ($3.7 billion)
for 10 percent of Coal India Ltd, thereby meeting half
of the disinvestment target for the fiscal year 2013-14 in one
stroke, the Economic Times said.
* National Shipping Co of Saudi Arabia (Bahri) is
considering a debut Islamic bond issue to help refinance debt
taken on for its $1.3 billion acquisition of Saudi Aramco's
marine unit last year, three sources said on Sunday.
* Swedish listed private equity firm Ratos will
buy a majority stake in the SF cinema chain in a deal worth
around 2.7 billion Swedish crowns ($420 million), daily Dagens
Industri said on Sunday.
* The Canada Pension Plan Investment Board (CPPIB), one of
the world's biggest pension funds, could be interested in
bidding for nuclear fuel producer Urenco, the Sunday Times said.
* Japan's Panasonic Corp is considering selling its
healthcare business to raise cash as the consumer electronics
maker fights to end losses with flat-panel televisions, two
sources familiar with the matter said on Sunday.
* The infrastructure arm of Larsen & Toubro Ltd,
which handles assets worth 450 billion rupees ($8.33 billion),
will raise up to 25 billion rupees by selling up to 20 percent
stake to potential investors, including Malaysian sovereign fund
Khazanah, the Economic Times said, citing three people familiar
with the negotiations.
* E.ON, Germany's biggest utility, declined to
comment on Saturday on Brazilian financial newspaper Valor
Economico's report that the company had agreed to buy half of
Brazilian billionaire Eike Batista's stake in MPX Energia
* Japan's Sony Corp on Friday completed the sale of
its U.S. headquarters for $1.1 billion to a group led by real
estate developer the Chetrit Group, three sources familiar with
the deal said.
* HD Supply, a one-time division of Home Depot Inc
that was taken private for $8.5 billion in 2007, has chosen Bank
of America Merrill Lynch, Barclays Plc and
JPMorgan Chase & Co to lead a proposed initial public
offering, people familiar with the matter said.