March 7 (Reuters) - The following corporate finance-related stories were reported by media on Thursday:
* Italy’s Banca Monte dei Paschi di Siena is seeking damages of at least 1.2 billion euros ($1.56 billion) from two former executives and investment banks Nomura Holdings Inc and Deutsche Bank AG over derivative trades, a judicial source with direct knowledge of the matter told Reuters.
* Mervyn King, the outgoing governor of the Bank of England, has urged the government to break up the Royal Bank of Scotland Plc as the best way to recover the bulk of the 45 billion pounds ($67.75 billion) used to bail out the state-controlled bank.
* Exxon Mobil Corp, the world’s largest oil company by market value, has hired Barclays Plc to re-launch the sale of a stake in a Hong Kong power venture, sources told Reuters, in a deal that could be worth up to $2 billion.
* Canadian newspaper magnate David Black said he is close to finalising a C$25 billion ($24.25 billion) financing deal for his proposed West Coast refinery project aimed at creating a new market for Alberta oil sands production, a media report said on Wednesday.
* North American and Spanish banks, including Toronto-Dominion Bank, BB&T Corp and Banco de Sabadell SA, are lining up to bid on City National Bank of Florida over the next few days, according to sources familiar with the situation.
* Citigroup Inc’s former CEO, Vikram Pandit, might be joining the race to become a co-applicant for a banking licence in India. Two sources familiar with the developments said Pandit was exploring the possibility of investing in a bank backed by a clutch of private equity funds.
* KPMG could lose the biggest audit contract in corporate Britain after HSBC Holdings Plc decided to consider bringing in a fresh pair of eyes to vet its accounts.
* Chief Executive Andrew Mack of Portman Square Capital, one of Europe’s most talked-about new hedge fund firms, has stepped down in a bid to save costs after a big investor pulled its support, people familiar with the situation said.
* Steel-to-software conglomerate Tata Group’s metal company Tata Steel is planning to raise $1 billion via global bond issuance by the end of March, sources with direct knowledge said.
* U.S.-based TPG Capital Management LP is not looking to increase its stake in Russian state-owned VTB Bank OAO in an expected upcoming stake sale by the bank, a source close to the private equity firm said on Wednesday.
* Johnson Controls Inc is exploring a potential sale of its automotive interiors unit, a move that would allow the diversified manufacturer to focus on higher-margin building controls and next-generation car batteries, three people familiar with the matter said on Wednesday.
* German tyremaker and car parts group Continental AG may tap bond markets to take advantage of currently low interest rates, its finance chief told a German newspaper.