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Market Chatter- Corporate finance press digest
December 13, 2013 / 4:10 AM / 4 years ago

Market Chatter- Corporate finance press digest

Dec 13 (Reuters) - The following corporate finance-related stories were reported by media:

* German healthcare and chemical conglomerate Bayer AG will launch a strategic partnership with China’s CITIC Trust next week to market agrochemicals in China, a source close to the deal told Reuters.

* UK Insurer Legal & General has hired Goldman Sachs to advise on a possible bid for the general insurance arm of the Co-operative Group, a source familiar with the process said.

* Private equity investor Round Hill Capital and other co-owners of Vitus Immobilien have entered advanced talks to sell the German property group to Deutsche Annington, two sources familiar with the transaction said on Thursday.

* Private equity fund CVC is preparing to divest Sunrise, Switzerland’s second-biggest mobile operator, after failing to merge it with a peer in 2010, four people familiar with the matter said.

* Construction material supplier Texas Industries Inc’s owners are exploring a sale of the company and are working with Citigroup to find a buyer, Bloomberg reported on Thursday, citing three people with knowledge of the matter.

* SAC Capital Advisors LP is considering a revamp of its business, including scaling back ties with some banks and renaming itself, as it attempts to emerge from an insider-trading scandal and forge a new identity, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

* Insurer American International Group is in talks to sell its jet-leasing finance business to AerCap Holdings NV , according to reports.

* GMR Infrastructure Ltd has sold its 40 percent stake in Istanbul’s Sabiha Gökcen International Airport for about 220 million euros ($302.58 million) to TAV Airports Holding Co, as it raises funds to pare debt in the face of slower economic growth, a person familiar with the development told Mint. ()

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