DealZone

Deals wrap: OneMain gets Buffett’s attention

July 6, 2011

Berkshire Hathaway has joined the group bidding for Citigroup’s consumer lending unit OneMain, formerly known as CitiFinancial, the Wall Street Journal said, citing people familiar with the matter.

South Korea’s shipping-to-shipbuilding group STX Corp  said it may bid for a 15 percent stake in Hynix Semiconductor, reviving hopes for a $2.4 billion deal after Hyundai Heavy Industries dropped its bid plan.

Singapore state investor Temasek Holdings sold stakes in two of China’s biggest banks to raise $3.6 billion, piling more pressure on mainland lenders amid concerns about rising bad debts.

The approval from a key ministry for Diageo to take control of Sichuan Swellfun, China’s fourth-largest premium white spirits maker by volume, confirms that foreign takeovers of Chinese brands are possible.

DealBook gives the mood at Sun Valley where dealmakers are mingling in the fresh air.

“The Big Board most of the world knows has been reduced to a server farm and a bell,” reports Bloomberg.

The WSJ profiles J.P. Morgan Chase & Co boss James Dimon.

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