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UPDATE 1-Market Chatter-Corporate finance press digest
September 27, 2013 / 6:08 AM / 4 years ago

UPDATE 1-Market Chatter-Corporate finance press digest

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

* A unit of British insurer Prudential Plc plans to raise up to $122 million by selling its remaining stake in Taiwan’s E.Sun Financial Holding Co Ltd, a source with direct knowledge of the plans said on Thursday.

* Leading copper producer Codelco will seek a significant rise in 2014 copper premiums due mostly to renewed strong demand from top buyer China, but the jump will be lower than many have predicted, a source close to the Chilean miner told Reuters on Thursday ahead of annual contract negotiations.

* Private equity firm KKR & Co LP has withdrawn from the bidding process for Jones Group Inc, two people familiar with the matter said on Thursday, raising questions over the prospects of the auction for the fashion and footwear company.

* Nestle SA, the world’s largest food company, is looking to divest its PowerBar energy bars, a pioneer of sports nutrition products, according to four people familiar with the matter.

* Air France-KLM, which holds a 25 percent stake in the struggling Italian carrier Alitalia voted against a 100 million euros ($135 million) capital hike proposal, a source close to the matter said.

* The successor company to Knight Capital Group is near a settlement of around $12 million with the U.S. Securities and Exchange Commission related to last year’s trading glitch that disrupted equity markets and led to Knight’s sale, according to two sources.

* SunGard Data Systems Inc is in talks with buyout firm Apax Partners LLP to sell its data management unit, which it has been hoping to divest for as much as $2 billion, several people familiar with the matter said.

* Piraeus Bank SA, Greece’s second-largest bank, is planning to list unit Geniki Bank on the stock exchange in the next six months, the Financial Times reported on Thursday, citing people briefed on the plan.

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