Morgan Stanley has found buyers for its stake in Chinese investment bank China International Capital Corp, CICC Chairman Li Jiange says. The firms have reached a consensus regarding the stake sale and the deal was awaiting regulatory approval.
UK defence services firm VT Group walks away from bidding for smaller rival Mouchel, leaving it free to focus on its own takeover defence from Babcock.
In other news:
China Development Bank, a powerful, state-owned Chinese bank, says it will review its strategic tie-up with Barclays, including its equity stake in the British bank after more than two years in a low-profile relationship.
British publishing group Pearson Plc has shortlisted three private equity teams and one trade firm as bidders for financial market data provider Interactive Data Corp, the Financial Times reports.
China’s Bright Food Group will sweeten its offer to buy Australian CSR’s sugar business and hopes to complete the deal by the end of the year, the China Daily reports.