May 27 The following corporate finance-related
stories were reported by media:
* France's nuclear group Areva would be
interested in Alstom's offshore wind turbine contracts
but would use its own turbine technology rather than the
engineering group's, a source with direct knowledge of the
situation told Reuters.
* Intuit Inc, developer of tax-preparation software
TurboTax, agreed to buy Check Inc, a bill-payment service, for
$360 million in a deal that was signed on Friday, the Wall
Street Journal reported, citing people familiar with the
* Siemens is readying a formal offer for Alstom
under which it would transfer its rail activities and
less than 7 billion euros ($9.56 billion) in cash to its French
rival in exchange for its power assets, sources familiar with
the German firm's thinking say.
* Italian designer Roberto Cavalli has approached Gulf
investment firm Investcorp as a potential buyer for a stake in
his fashion brand, a source at the Gulf investment firm said.
* Morgan Stanley is close to a deal to sell its stake
in its TransMontaigne oil transportation-and-storage
business, the Wall Street Journal reported on Friday, citing
sources familiar with the matter.
* Germany's Trimet Aluminium is in talks about purchasing
insolvent German aluminium producer Voerde Aluminium, a
newspaper said on Monday.
* Upscale department store operator Nordstrom Inc is
reaching out to potential buyers for its store-branded credit
cards, Bloomberg reported on Friday, citing sources familiar
with the matter.
* Australian fashion sales site MySale has acquired Cocosa,
a flash sales site, as it prepares to launch in the UK, the
Financial Times reported late Monday.
* Global private equity fund Warburg Pincus will
purchase as much as a fourth of Indian drug ingredient maker
Laurus Labs for $125-150 million, the Economic Times reported,
citing three people with direct knowledge of the deal. (link.reuters.com/pux59v)
* Russian investment firm DST Global could pump in between
$200 million to $500 million into Indian online retailer
Flipkart, the Economic Times reported, citing two people with
direct knowledge of the negotiations. (link.reuters.com/xux59v)
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($1 = 0.7325 Euros)
(Compiled by Aastha Agnihotri in Bangalore)