February 17, 2015 / 4:53 AM / 3 years ago

Market Chatter- Corporate finance press digest

Feb 17 (Reuters) - The following corporate finance-related stories were reported by media:

* Deutsche Bank is focusing on plans for a slimmed-down universal bank as part of the management’s strategic review where the group remains internationally engaged in most of its current activities but pulls out of unprofitable regions and business lines, newspaper Handelsblatt reported on Monday. The bank would shut operations abroad that contribute little to the bottom line, the paper wrote, citing unnamed sources.

* China’s Anbang Insurance Group agreed to pay around 1.1 trillion won ($998.5 million) for private equity firm Vogo Investment’s controlling stake in South Korean life insurer Tong Yang Life Insurance, a person with direct knowledge of the matter said on Tuesday.

* Internet retailer Flipkart has begun preparations for an encore to its mammoth fundraising exercise of last year and is looking to raise $1.7 billion (105.82 billion rupees) in the coming months, the Economic Times reported, citing four people familiar with the matter. (bit.ly/1yP277K)

* Indian online furniture store Urban Ladder is in talks with Sequoia Capital, existing investors Steadview Capital, SAIF Partners and Kalaari Capital to raise more than $50 million (3.11 billion rupee) at a valuation of about $150 million, according to two investors directly involved in discussions, the Economic Times reported. (bit.ly/1vxt6V1)

* Apple has hundreds of employees working on an electric car project to rival GM, Nissan and Tesla, the Wall Street Journal reported on Friday. The paper, quoting people familiar with the matter, said the project was code-named “Titan” and had an initial design of a vehicle resembling a minivan.

* Enterprise software maker Informatica Corp is looking to hire new financial advisers that will help it revive a sale process and defend itself from activist hedge fund Elliott Management Corp, according to people familiar with the matter.

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For the Morning News Call-EMEA newsletter click on (1 Indian rupee = $0.0161) (Compiled by Zara Mascarenhas in Bengaluru)

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