DealZone

DealZone Daily

February 2, 2010

Three U.S. private equity firms have been shortlisted to buy Morgan Stanley’s more than $1 billion stake in China International Capital Corp, a holding the Wall Street bank has been trying to sell since late 2007.

Kohlberg Kravis Roberts, Bain Capital and TPG Capital are competing to win the chance to acquire a stake in China’s best known and most profitable investment bank, sources tell Reuters.

In other M&A and corporate finance news from Reuters and other media on Tuesday:

UK retailer New Look says it aims to raise $1 billion from an IPO in March.

South Korea’s National Pension Service plans to buy a 12 percent stake in London’s Gatwick Airport for around $160 million to increase investment in alternative assets.

Philippine insurance firm Philplans First has bought a 5.3 percent stake in geothermal company Energy Development Corp for $110 million.

Goldman Sach’s principal investment arm is in talks to buy some, or all, of the 15.6 percent stake in Chinese life assurer Taikang Life being sold by French insurer Axa, the Financial Times reports.

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