Deals du Jour
Porsche is in talks to sell a stake of up to 25 percent in its holding company to the Gulf state of Qatar and a deal could be announced within weeks, people familiar with the talks told the Financial Times. For more of today’s deals headlines on Reuters, click here.
And more in the newspapers:
* German state-controlled bank WestLB was close to being shut down over the weekend , the Wall Street Journal reported, citing people familiar with the situation.
Owners of the struggling bank agreed to provide an additional 4 billion euros ($5.6 billion) in guarantees to help support a sweeping reorganisation, WestLB said late on Sunday.
* Investment house RIT Capital Partners Plc has pulled assets out of U.S.-based hedge fund Atticus Capital LP, saying its investment in the company had “run its course”, the Wall Street Journal reported, citing RIT Capital’s annual report and spokesman.
* Wonga.com, the online loans company, has secured $22 million of new finance in a deal led by Accel Partners and Greylock Partners, the Financial Times and the Daily Telegraph newspapers reported. It is one of the biggest private equity funding rounds in Europe this year, the FT said.
* NYSE Euronext, the transatlantic exchange group, and Liquidnet, a U.S.-based “dark pool” equity trading platform, have agreed to set up a new service allowing companies to get a better indication of how investors intend to trade their stocks, the Financial Times reported.
NYSE Euronext-listed companies will be able to see the ratio of intended buy orders against intended sell orders in their stock in the Liquidnet dark pool, the paper said.
* U.S. private equity fund Warburg Pincus has ended its investment in China Huiyuan Juice, becoming the first big stakeholder to pull out of the firm after the collapse of Coca-Cola’s $2.4 billion takeover offer, the Financial Times reported.
* The Obama administration wants European countries to put their banks through more rigorous public stress tests to ensure that the institutions survive if the economy deteriorates further, the Wall Street Journal reported on its website.