Porsche is in talks to sell a stake of up to 25 percent in its holding company to the Gulf state of Qatar and a deal could be announced within weeks, people familiar with the talks told the Financial Times. For more of today’s deals headlines on Reuters, click here.
And more in the newspapers:
* German state-controlled bank WestLB was close to being shut down over the weekend , the Wall Street Journal reported, citing people familiar with the situation.
Owners of the struggling bank agreed to provide an additional 4 billion euros ($5.6 billion) in guarantees to help support a sweeping reorganisation, WestLB said late on Sunday.
* Investment house RIT Capital Partners Plc has pulled assets out of U.S.-based hedge fund Atticus Capital LP, saying its investment in the company had “run its course”, the Wall Street Journal reported, citing RIT Capital’s annual report and spokesman.
* Wonga.com, the online loans company, has secured $22 million of new finance in a deal led by Accel Partners and Greylock Partners, the Financial Times and the Daily Telegraph newspapers reported. It is one of the biggest private equity funding rounds in Europe this year, the FT said.