July 31, 2013 / 5:53 AM / 4 years ago

RPT-Market Chatter-Corporate finance press digest

2 Min Read

July 31 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* South Africa's Standard Bank is in advanced talks to sell its London commodity trading business to its biggest shareholder Industrial and Commercial Bank of China, a person familiar with the matter said on Tuesday.

* France's Schneider Electric is nearing a 3.3 billion pound ($5.07 billion) deal to acquire British engineer Invensys and could announce it at its results on Wednesday, three people with direct knowledge of the matter said.

* Vornado Realty Trust and Oxford Properties, the real estate arm of an Ontario pension plan, are buying stakes in 650 Madison Avenue, joining two parties that had already agreed to acquire the Manhattan building for $1.3 billion, three sources told Reuters on Tuesday.

* Australia's Nine Entertainment, owned by two U.S. hedge funds, is looking to raise up to A$1.2 billion ($1.1 billion) in an initial public offering before the end of the year, a newspaper reported on Wednesday.

* Management consulting firm Accenture Plc is in talks to acquire rival Booz & Co, a deal that would beef up its strategy and operations consulting services, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

* Quality Technology Services, the Kansas-based operator of data centres serving businesses and government agencies, is pursuing an initial public offering in the United States, Bloomberg reported, citing people with knowledge of the matter.

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