A couple of nuggets from transport-land. Britain’s National Express unveils a 360 million pound rights issue and buyout giant TPG emerges as a potential investor alongside American Airlines in Japan Airlines.
For the latest deals news from Reuters, click here.
And in the papers:
* Fubon Financial, parent of Taiwan’s No.2 insurer, and China’s State Development & Investment Corp will set up a 3 billion Chinese yuan ($440 million) private equity fund, the Commercial Times reported, citing a Fubon executive. Reuters story here.
* Indian software services firm Patni Computer Systems (PTNI.BO) has shortlisted four firms for a multi-million dollar acquisition, the Mint newspaper reported, quoting Chief Executive Officer Jeya Kumar.
* China’s Zhejiang Geely Holding Group, vying to buy Ford Motor’s (F.N) loss-making Volvo unit, has developed a turnaround plan under which it hopes to double Volvo’s sales to near 1 million vehicles a year, the WSJ says.
* China is drafting guidelines encouraging further consolidation of its steel industry, the China Securities Journal says.
* United Technologies (UTX.N) is nearing a purchase of General Electric Co’s (GE.N) fire alarm and security systems unit for at least $1.8 billion, and a deal could be announced as early as Thursday, Bloomberg reports.