July 21, 2014 / 6:08 AM / 4 years ago

UPDATE 1-Market Chatter-Corporate finance press digest

(Adds items on Caixabank, General Atlantic, LVMH, China Development Bank, Encana, Chi, Arabtec, U.K. Serious Fraud Office and Club Mediterranee)

July 21 (Reuters) - The following corporate finance-related stories were reported by media:

* An Omani sovereign wealth fund and other shareholders in Bulgaria’s Corporate Commercial Bank are seeking to stabilise the troubled lender and hope a feasible plan will be put together within three months, a fund source told Reuters on Sunday.

* Mondelez International Inc and D.E Master Blenders 1753 are considering options including a possible sale of French coffee brands L’Or and Grand Mere as they prepare to merge their coffee businesses, sources familiar with the matter said.

* Spanish banks Caixabank and Banco Santander are the frontrunners to buy bailed-out lender Catalunya Banc in the government’s third attempt to sell it, sources with knowledge of the process said on Friday.

* U.S. private equity firm General Atlantic is in talks to buy a 2 to 5 percent stake each in India’s Just Dial Ltd and Info Edge India Ltd, two sources with direct knowledge of the discussions said on Friday.

* French luxury group LVMH has named Sebastian Suhl, currently head of its Givenchy fashion brand, as the new chief executive of Marc Jacobs to prepare the U.S. fashion business ahead of a possible flotation, sources close to LVMH said.

* China’s central bank has re-lent 1 trillion yuan ($161 billion) to China Development Bank (CDB), the country’s top policy bank, via a new monetary tool called PSL to test medium-term interest rates, the semi-official China Business News said on Monday.

* Encana Corp , Canada’s largest natural gas producer, may sell its Deep Panuke natural gas project, off Nova Scotia’s Atlantic coast, by yearend, Bloomberg News reported on its website, citing unidentified sources.

* Nigerian drinks company Chi Ltd is exploring options including a potential sale that could value it at as much as $1 billion, according to sources familiar with the matter.

* Abu Dhabi state fund Aabar Investment, a major shareholder in Dubai builder Arabtec, said on Sunday that it was studying different options for its stake but that any talks on a deal would remain confidential.

* The Serious Fraud Office, the UK’s main anti-fraud agency, could announce a formal investigation into alleged manipulation of the global foreign exchange market by the end of this month, the FT.com reported on Sunday, citing people familiar with the situation.

* The son of Club Mediterranee’s founder told a weekly paper he supported a takeover offer by Italian tycoon Andrea Bonomi and that he would become the resort chain’s non-executive chairman if that offer is successful.

For the deals of the day click on

For the Morning News Call-EMEA newsletter click on (Compiled by Abhiram Nandakumar in Bangalore)

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