Nov 25 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.