August 27, 2013 / 4:21 AM / 4 years ago

Market Chatter-Corporate finance press digest

Aug 27 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:

* Private equity firm MBK Partners has agreed to buy a 90 percent stake in ING’s South Korean insurance unit for 1.63 trillion won ($1.46 billion), a source with direct knowledge of the matter said Monday.

* Japanese oil refiner Cosmo Oil Co shut the 100,000 barrels per day (bpd) No.1 crude distillation unit (CDU) at Sakai refinery on Friday for planned maintenance, an industry source said on Monday.

* Brazil’s oil industry watchdog plans to reject OGX Petróleo e Gás Participações SA’s plan to develop the Tubarão Azul offshore oil field, two government sources with direct knowledge of the situation told Reuters.

* Pratt & Whitney, a unit of United Technologies Corp has reached agreement in principle with the Pentagon on a contract to build 39 engines for a sixth batch of F-35 Joint Strike Fighters, three sources familiar with the deal said Monday.

* Abu Dhabi National Energy Co (TAQA) may shelve a $12 billion power project in Turkey amid a deteriorating economic outlook and increasingly difficult financing conditions, Turkish energy industry sources said on Monday.

* Thai billionaire Charoen Sirivadhanabhakdi is looking to raise at least $500 million by listing a hospitality trust in Singapore next year to help refinance some of the debt that his companies took on to win control of Fraser and Neave (F&N) , people with knowledge of the matter said.

* Malaysia’s largest mobile phone operator by market value Axiata Group Bhd is planning an initial public offering of its telecommunication tower assets estimated to be worth up to $500 million, three people familiar with the deal said.

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