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Market Chatter-Corporate finance press digest

Source : REUTERS
Last Updated: Tue, Mar 26, 2013 11:40 hrs

March 26 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:

* Dell Inc founder and Chief Executive Michael Dell is very concerned that Blackstone Group LP's buyout offer would dismantle the PC maker he founded in 1984, two people close to Michael Dell said on Monday.

* The British government is selling its helicopter search and rescue operations to U.S.-based Bristow Group Inc in a deal expected to be in the region of 3 billion pounds ($4.55 billion), Sky News reported on Monday.

* Most Cyprus banks will reopen on Tuesday but the Bank of Cyprus and Popular Bank will reopen on Thursday, a Central Bank source said.

* Germany's Allianz SE has agreed to buy Turkish insurer Yapi Kredi Sigorta AS's core insurance arm and a majority stake in its pension unit for nearly 950 million euros ($1.22 billion), sources familiar with the matter said on Monday.

* Hulu's board has approached potential buyers to gauge their interest in buying the online video service, three sources close to the company told Reuters, as owners News Corp and Walt Disney Co weigh what to do with their interests in the five-year-old company.

* Japan's NEC Corp will sell its mobile services subsidiary NEC Mobiling Ltd for 70 billion to 80 billion yen ($742 million - $848 million), sources said on Tuesday, as the company sheds non-core assets after two years of losses.

* Japanese temporary staffing agency Temp Holdings Co Ltd will buy its domestic peer Intelligence Holdings for around 70 billion yen ($742.00 million) from U.S private equity firm KKR & Co LLP, a person with direct knowledge of the matter said on Tuesday.

* Export-Import Bank of India, or Exim Bank, plans to sell around A$100 million ($104.52 million)in five-year fixed-rate euro medium term notes, according to two sources with knowledge of the deal.

* A Kuwaiti sheik alleges that a senior executive at UBS AG offered $20 million to get the bank an advisory role on one of the biggest-ever acquisitions in the Middle East, but the bank later backed out of the deal, the Wall Street Journal reported. ()

* Dutch package delivery firm TNT Express NV said the sale process of its Chinese business is underway and that it is pursuing the sale of its Brazilian arm, the Financial Times reported. The strategy update comes two months after the collapse of a planned takeover by United Parcel Service Inc . ()



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