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Market Chatter- Corporate finance press digest
February 12, 2015 / 4:11 AM / 3 years ago

Market Chatter- Corporate finance press digest

Feb 11 (Reuters) - The following corporate finance-related stories were reported by media:

* Hewlett-Packard Co's sale of a majority stake in its Chinese networking unit has attracted interest from potential bidders including state-owned China Electronics Corp and Citic Capital Partners, Bloomberg said, citing people familiar with the matter. (bloom.bg/1vjm1ao)

* Scott Rechler has agreed to sell a roughly 50 percent stake in a portfolio of six New York office buildings to private-equity firm Blackstone Group LP in a deal that values the properties at $4 billion, the Wall Street Journal reported, citing people familiar with the matter. (on.wsj.com/1Djo1pG)

* Leumi, Israel’s second-largest bank, sold a 5 percent stake in conglomerate Israel Corp for about 500 million shekels ($129 million), market sources said on Wednesday.

* SABMiller is exploring the possibility of snapping up a stake in Myanmar’s biggest brewer, a deal that would make it the partner of a conglomerate with ties to the former ruling military, sources familiar with the matter say.

* Credit Suisse is preparing to move a London and Paris-based trading team out of its investment banking unit and into its asset management arm to raise external capital, sources familiar with the matter said.

* Mahindra & Mahindra, one of India's largest diversified conglomerates, will purchase a majority stake in Pipavav Defence and Offshore Engineering (PDOE) for about 30 billion rupees (about $480 million) at 66 rupees a share in a three-phase deal, the Economic Times reported, citing two people with direct knowledge of the plan. (bit.ly/16VVUAw)

For the deals of the day click on

For the Morning News Call-EMEA newsletter click on ($1 = 62.4600 Indian rupees) (Compiled by Zara Mascarenhas in Bengaluru)

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