Swiss commodity trader Glencore buys back its prized Prodeco coal operations in Colombia from mining group Xstrata. Analysts reckon the deal is worth around $2.5 billion to $2.7 billion — making it an easy decision for Glencore to exercise its option to buy as it values the mines at $4-$5 billion, a source says.

China Life Insurance Co, the world’s biggest life insurer by market value, is looking to buy a bank, its chairman says. It
would be following peers as China relaxes restrictions on banks and insurance companies investing in each other.

In other M&A and corporate finance news reported by Reuters and other media on Friday:

Brookfield Asset Management is looking at a $3.6 billion listing of its Australian office portfolio to take advantage of
improving tenancy levels, the Australian Financial Review says.

British fund firm Jupiter Asset Management is renegotiating its loans with investors, ahead of a possible listing, the Financial Times reports.