Deals du jour
CIT Group Inc, which lends to nearly one million small and mid-sized businesses, signed off on a $3 billion deal late Sunday in rescue financing from a group of bondholders to avoid bankruptcy. And private equity firm Kohlberg Kravis Roberts & Co on Monday moved a step closer to gaining a stock-market listing.
For these stories and all the rest of the latest deals news from Reuters, click here.
And in the newspapers (some external links might require subscriptions):
* Lloyds Banking Group (LLOY.L) and the Royal Bank of Scotland (RBS.L) might have to sell part of their businesses under proposals to be announced by the opposition Conservatives on Monday, the Times newspaper reported.
* Vietnam’s Oricombank, 10 percent owned by BNP Paribas (BNPP.PA), could sell up to another 10 percent of shares to its French shareholder by year end, Oricombank’s chief executive was quoted in a report as saying. Reuters story here.
* Italian insurer Assicurazioni Generali SpA (GASI.MI) will abstain from Intesa Sanpaolo SpA board meetings until an antitrust dispute is settled, Il Sole 24 Ore newspaper said on Sunday. Reuters story here.
* China Investment Corp (CIC), the country’s $200 billion sovereign wealth fund, has agreed to buy a 40 percent stake in investment firm CITIC Capital Holdings Ltd, the official China Securities Journal reported. Reuters story here.
* HSBC (0005.HK)(HSBA.L) has picked 4 to 5 investment banks in the first round of selecting sponsorships and underwriters in its plan to launch shares in China, Apple Daily said, citing unidentified sources. Reuters story here.
* Singapore-based cooking oils producer Wilmar International (WLIL.SI) aims to raise $3 billion to $4 billion through an initial public offering by its China subsidiary in Hong Kong in the first half of next year, the South China Morning Post reported, citing an unidentified source. Reuters story here.
* DLF Ltd (DLF.BO), India’s largest listed developer, is in talks with Europe-based Gaz de France Suez (GSZ.PA) and Akuo Energy about selling its wind energy business, the Economic Times newspaper reported. Reuters story here.