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Market Chatter- Corporate finance press digest
February 5, 2014 / 4:20 AM / in 4 years

Market Chatter- Corporate finance press digest

Feb 5 (Reuters) - The following corporate finance-related stories were reported by media:

* Sony Corp is in talks with investment fund Japan Industrial Partners to sell its loss-making Vaio personal computer division, a source familiar with the matter said on Wednesday.

* Volkswagen is considering raising its stake in Swedish truck maker Scania, the Wall Street Journal’s website reported late on Tuesday, citing financial sources.

* Italy’s mid-sized bank Carige, which needs to plug an 800 million euro ($1.08 billion) capital shortfall, is set to unveil the size of a share sale with its new business plan at the end of March, a source close to the bank said on Tuesday.

* Italy’s Versace is expected to choose between three potential partners vying for a minority stake in the fashion house around the end of February, three sources familiar with the matter said.

* Italian private equity fund Investindustrial may consider buying into a capital hike regional lender Banca Carige is expected to launch soon once the terms of the operation are known, a source close to Investindustrial said on Tuesday.

* Indian construction company GMR Infrastructure has deferred a $350 million initial public offering (IPO) that was aimed at raising money and allowing private equity investors to exit, the Economic Times reported, citing three unidentified GMR officials. ()

* A group of investors led by India’s IDFC Private Equity is in initial talks with the GVK Group to buy a significant minority stake in its airports business for $400 million, the Economic Times reported, citing two people with knowledge of the matter. ()

* Novartis AG is drawing interest from potential bidders for its human-vaccines unit as talks to swap its animal-health business for assets from Merck & Co slow down, the Bloomberg News reported, citing people with knowledge of the matter. ()

* Indian Oil Corp, country’s biggest refiner and fuel retailer, plans to acquire a minority stake in a Canadian shale gas and liquefied natural gas project for about $1 billion. The Cabinet is expected to approve it this month, the Economic Times reported, citing senior government and industry officials. ()

* Private equity-owned Continental Building Products Inc’s initial public offering was priced at $14 per share, an underwriter told Reuters, significantly below its expected range of $16-$18.

* Private equity firm Apax’s acquisition of a 50.1 percent stake in classified advertising publisher Trader Media is backed with a 358 million pound ($583.35 million) subordinated loan from a Goldman Sachs fund, banking sources told Reuters.

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