May 13, 2009 / 7:22 AM / 10 years ago

Market Chatter -- Corporate finance press digest

LONDON, May 13 (Reuters) - The following corporate finance-related stories involving U.S., European and Asian companies were reported by media on Wednesday:

* The Belgian government is working on a new rescue plan for KBC (KBC.BR) because the group is set to write down a further 1 billion euro loss on its debt portfolio, Belgian business daily De Tijd said, referencing a ministerial meeting late Tuesday. [ID:nLD572891]

* Mitsubishi UFJ Financial Group Inc’s (8306.T) trust banking unit has decided to cancel its planned $257 million purchase of Citigroup’s (C.N) Japanese trust bank, Japan’s Nikkei, Asahi and Sankei newspapers said, without citing sources. [nBNG384168]

* LCH.Clearnet plans to respond to a bid from a group of banks and ICAP IAP.L by proposing joint discussions aimed at combining elements of the bid with the clearing house’s own restructuring ideas, the FT quoted LCH.Clearnet Chairman Chris Tucker as saying. [ID:nB353092]

* Fiat FIA.MI will be allowed to increase its ownership in Chrysler if the Italian auto maker achieves certain goals such as starting production of its engines in the United States, the WSJ said, citing court documents.

* Executives at Citigroup’s Primerica Financial Services unit are looking to sell the division’s marketing arm, and private equity firms including J.C. Flowers & Co, TPG Inc. and Blackstone Group (BX.N) have been approached, Bloomberg said, citing people familiar with the matter. [ID:nBNG404117]

Compiled by Victoria Howley; Editing by Dan Lalor

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