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UPDATE 1-Market Chatter-Corporate finance press digest
April 30, 2014 / 6:01 AM / 3 years ago

UPDATE 1-Market Chatter-Corporate finance press digest

(Adds Exelon, Bayer AG, EQT)

April 30 (Reuters) - The following corporate finance-related stories were reported by media:

* British bank Barclays Plc will next week announce the creation of a bad bank portfolio of assets it deems non-core that it intends to sell or run down as part of a streamlining of its investment bank, a person familiar with the matter said on Tuesday.

* Spanish utility Iberdrola has hired Morgan Stanley to explore the sale of a minority stake in its Spanish distribution business, a source with knowledge of the matter said on Tuesday.

* Sanofi SA is looking to sell a portfolio of mature drugs that could fetch between $7 billion and $8 billion, according to people familiar with the matter, yet another example of drugmakers trying to shed non-core assets and focus on high-growth areas.

* Nuclear power company Exelon Corp agreed to buy utility company Pepco Holdings Inc for more than $5.4 billion in cash, Bloomberg reported, citing people familiar with the transaction.

* Bayer AG is offering to swap its animal health assets for Merck & Co Inc’s consumer healthcare business, people familiar with the matter said on Tuesday, in a move that could give the German drugmaker a leg up in the $14 billion auction of the Merck business.

* Swedish buyout house EQT is planning a stock market listing for hotel operator Scandic, which could be worth more than 1 billion euros ($1.38 billion) including debt, two people familiar with the matter said.

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