DealZone

Deals du Jour

August 13, 2009

Library photo of the Prudential Center. REUTERS/Ray Stubblebine (UNITED STATES)The acquisition of Friends Provident by Resolution is a reminder that financial services deals have not gone away. A steady stream of deals have made headlines in recent weeks.

On Thursday an online report said Prudential Financial Inc is in the early stages of talks with KB Financial to sell its South Korean brokerage arm, a deal that could fetch an estimated $680 million. Here’s the Reuters story.

Other deal-related stories appearing in the media on Thursday include:

State-run miner Coal India Ltd plans to raise up to 60 billion rupees ($1.25 billion) by selling 10 percent of its equity through an initial public offer expected within a year, the Business Standard reported on Thursday.

Menswear retailer Trinity, controlled by the parent of Li & Fung, has revived a listing plan and aims to raise at least US$200 million in a Hong Kong IPO before the end of this year, a Hong Kong newspaper reported on Thursday.

Insolvent German retailer Arcandor’s former banking unit Valovis has applied for 500 million euros in state guarantees, the Handelsblatt newspaper said.

India’s Reliance Industries has exited an Oil and Natural Gas Corp-led consortium that was to bid for a 40 percent stake in an oil field in Venezuela, the Economic Times reported.

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