December 5, 2013 / 4:02 AM / 4 years ago

Market Chatter- Corporate finance press digest

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

* China Cinda Asset Management Co Ltd, the country’s biggest bad debt manager, is set to raise $2.5 billion after pricing its Hong Kong IPO at the top of the marketing range, a source with direct knowledge of the plans said on Thursday.

* Credit Suisse is selling its business serving wealthy customers in Germany to Frankfurt-based Bethmann Bank, sources familiar with the transaction told Reuters on Wednesday.

* Billionaire Alvaro Saieh is close to finalising a merger for Chile’s CorpBanca SA, in which he holds a controlling stake, three sources told Reuters on Wednesday, with Spain’s Banco Bilbao Vizcaya Argentaria SA and Brazil’s Itau Unibanco Holding SA the frontrunners.

* China Mobile Ltd, the country’s largest mobile operator, has signed a long-awaited deal with Apple Inc to offer iPhones on its network, the Wall Street Journal reported on Thursday, citing an anonymous source familiar with the matter.

* Southwest Airlines and Virgin American will buy the take-off and landing slots at New York’s LaGuardia Airport that US Airways Group Inc and American Airlines must sell as part of their agreement to merge, three sources said on Wednesday.

* Japan’s securities watchdog will announce recommended sanctions against a Tokyo-based unit of Deutsche Bank for excessive entertainment of pension fund executives later on Thursday, sources with knowledge of the matter said.

* Russia’s Transneft is in talks to buy an office block for almost $1 billion in the Moscow City area, west of the capital’s centre, two sources close to the companies and one close to the negotiations told Reuters on Wednesday.

* The private equity owner of Applus+ has picked Morgan Stanley and UBS to oversee a stock market listing of the Spanish industrial testing firm, a person familiar with the matter said.

* A South Korean regulator informed Goldman Sachs’ local unit this week of its intent to impose disciplinary action for possible breach of domestic capital markets rules, three regulatory sources said on Thursday.

* Bank of China has priced two-year yuan bonds in Taiwan at a yield of 3.15 percent and three-year yuan bonds at 3.25 percent, three sources with knowledge of the matter said on Thursday.

* Industrial and Commercial Bank of China Ltd plans to issue 1 billion to 2 billion yuan ($164-$328 million) of yuan bonds in Taiwan, joining four other major mainland banks to do so, two sources with direct knowledge of the matter said on Thursday.

* Google Inc has quietly acquired more than a half-dozen companies for a new robotics groups led by Andy Rubin, formerly in charge of Google’s popular mobile software, according to a report in the New York Times on Wednesday.

* Essex Property Trust Inc, a manager of residential properties on the U.S. West Coast, has offered to buy BRE Properties Inc for about $5 billion, Bloomberg reported, citing two people familiar with the matter.

* Hedge fund Hayman Capital has taken a stake in General Motors Co and believes the U.S. automaker’s stock could rise more than 40 percent over the next 12-18 months after the U.S. Treasury sells its stake in the company, a source familiar with investment said on Wednesday.

* General Motors Co is selling its remaining stake in its former lending arm, Ally Financial Inc, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

For the Morning News Call-EMEA newsletter click on

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below