Deals du Jour
The world’s second largest confectionery group Cadbury has rejected a $16.7 billion bid approach by Kraft Food. But North America’s top food group still hopes it can clinch a deal to create a global powerhouse in snacks and quick meals.
For more from Reuters on the latest deals, click here.
Below is a round-up of all the market chatter from the press on Monday:
* South Korea’s No. 4 lender Hana Bank will buy a 18.44 percent stake in the Bank of Jilin in northern China for $316 million, said Yonhap news, citing an unnamed Hana Bank official.
* Russian billionaire Oleg Deripaska’s carmaker, GAZ, the Russian industrial partner in a Magna-led bid for Germany’s Opel, is not interested in an equity stake in Opel, Deripaska told Vedomosti newspaper.
* Huntsman, an American chemicals group, is looking to buy chemical plants in China with part of a $2.7 billion compensation package, said senior executive Paul Hulme in a Financial Times interview.
* Senior lenders to Incisive Media have entered into a lock-up over a deal to take control of the business-to-business publisher, reported the Daily Telegraph, without citing sources.
* Leading Indian engineering firm Larsen & Toubro is in talks to buy a thermal coal mine in Australia for about $300 million, the Economic Times reported, citing two people familiar with the matter.
* A group of Asian investors are in the final stage of buying a 46 percent stake in Kuwaiti telecom firm Zain, Al-Arabiya television reported on Sunday.
* The managing director of Lloyds’ specialist finance arm is considering a management buyout of its integrated finance unit and Lloyds is mulling options to raise cash, two British papers said in separate reports on Sunday.
* British bank HSBC has made a bid of about 1 billion pounds ($1.63 billion) for Dutch financial group ING’s private banking businesses, according to a report in The Sunday Times.
* Xstrata has asked its bankers to study the viability of a new 3 billion pounds ($4.90 billion) bid for platinum producer Lonmin, according to the Observer newspaper on Sunday.