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Market Chatter-Corporate finance press digest

Source : REUTERS
Last Updated: Fri, Mar 08, 2013 06:20 hrs

March 8 (Reuters) - The following corporate finance-related stories were reported by media on Friday:

* Barclays Plc Chief Executive Antony Jenkins has told investors that cost reduction is his absolute priority and he wants to find a way for the bank to operate with as few as 100,000 staff - a near 30 percent reduction on its current headcount.

* Technology products retailer CDW, which was taken private by Madison Dearborn Partners LLC and Providence Equity Partners for $7.3 billion in 2007, has hired banks for an initial public offering later this year, people familiar with the matter said.

* Citigroup Inc put its consumer finance units in Brazil up for sale, a source with knowledge of the situation told Reuters on Thursday, in a deal that might fetch the New York-based bank as much as 1.5 billion reals ($765.01 million).

* New York private-equity firm KKR & Co LP has reached a deal to buy industrial-pumps manufacturer Gardner Denver Inc for $76 a share, valuing the company at roughly $3.74 billion, the Wall Street Journal reported, citing a person familiar with the matter.

* U.S. Federal Reserve stress tests identified Goldman Sachs Group Inc as one of the weaker financial groups on Wall Street but gave Citigroup Inc confidence to announce a planned $1.2 billion share buyback.

* China National Petroleum Corp is in talks to buy a 10 to 20 percent stake in Italian oil company Eni SpA's giant Mozambique gas field according to an Italian government source, a deal that could be worth as much as $3.75 billion.

* CVC Capital Partners has secured about $200 million in initial pledges from cornerstone investors, including Och-Ziff Capital Management Group LLC and asset manager Schroders Plc, for its up to $1.5 billion share offer in Indonesian retailer Matahari Department Store Tbk PT, sources with direct knowledge of the matter said.

* Sharp Corp may sell new shares to help it repay a $2.1 billion convertible bond due in September, after a deal with Samsung Electronics Co raised $111 million in return for a 3 percent stake in the Japanese company, three sources familiar with the matter said.

* OneWest Bank, which emerged from the wreckage of failed lender IndyMac, has held informal discussions with New York Community Bancorp about a possible sale, three sources told Reuters this week.

* Spain's Liberbank is aiming to float on the stock market at the end of April, two sources familiar with the situation said, in what would be the first new listing of a lender since Spain requested a European rescue for the ailing sector.

* The boards of Italian motorway company Atlantia SpA and Generale Mobiliare Interessenze Azionarie SpA , which owns Rome airport operator ADR, are expected to approve terms of their planned merger on Friday, sources close to the situation told Reuters.

* U.S. private equity firms Blackstone Group LP and TPG Capital Management LP have placed separate final bids for Australia's largest poultry producer, Inghams Chicken, sources with direct knowledge of the matter told Reuters on Thursday.




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