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Market Chatter-Corporate finance press digest

Source : REUTERS
Last Updated: Tue, Apr 09, 2013 04:30 hrs

April 9 (Reuters) - The following corporate finance-related stories were reported by media on Tuesday:

* IT outsourcing company CompuCom Systems Inc said Monday it is being bought by private equity firm Thomas H. Lee Partners, and a source close to the matter said the price tag will be $1.1 billion.

* Two hedge funds which made millions of pounds shorting UK bank shares during the 2008 financial crisis are in talks to back a 1-billion-pound ($1.53 billion) bid for more than 300 Royal Bank of Scotland Group Plc branches, Sky News reported. ()

* Citigroup Inc has filed a claim with Nasdaq OMX Group Inc to potentially receive compensation for losses associated with Facebook Inc's glitch-ridden market debut last May, according to two people with knowledge of the situation.

* Pressure is building on British Prime Minister David Cameron to intervene to rid James Crosby of his knighthood and part of his pension, after a parliamentary report accused the former HBOS Plc chief executive of presiding over a "massive failure". ()

* Europe's third-biggest insurer Assicurazioni Generali SpA has moved closer to selling its U.S. life reinsurance unit as it shortlisted two among a large number of bidders, two people with direct knowledge of the situation said on Monday.

* Reliance Industries Ltd's joint venture with BP Plc, Torrent Power Ltd, GAIL (India) Ltd and Petronet LNG Ltd are in race to pick up a 25 percent stake in a proposed liquefied natural gas project worth 50 billion Indian rupees ($916.51 million), newspaper Mint reported, citing three people familiar with the development. ()

* Fisker Automotive Inc could file for bankruptcy protection as soon as this week as the U.S. Department of Energy pressures the green-car startup to pay back nearly $200 million in government loans.

* Russian fertilizer firm PhosAgro OAO will launch a secondary share offering on Monday after the company's share price rose above a key $14.50 threshold eyed by management, one financial source familiar with the deal said.

* After Tata Motors Ltd and Hero MotoCorp Ltd , Maruti Suzuki India Ltd is now considering a South African plant from where it could supply to other nearby markets, the Financial Express reported, citing top company officials. ()




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