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UPDATE 1-Market Chatter-Corporate finance press digest

Source : REUTERS
Last Updated: Fri, Mar 01, 2013 06:10 hrs

March 1 (Reuters) - The following corporate finance-related stories were reported by media on Friday:

* BlueMountain Capital, a hedge fund involved in JPMorgan Chase & Co's $6.2 billion trading loss last year, tried to recruit several employees in the bank's chief investment office in the months before the losses, according to two people familiar with the matter.

* Executives at large European banks said they were at risk of losing key traders and managers to the US and other international rivals after the European Union provisionally agreed on a 1:1 bonus-to-salary ratio, the Financial Times reported.

* Chief Executive Stephen Hester has sent the strongest signal yet that Royal Bank of Scotland could be ready for reprivatisation next year as the state-owned bank announced that a series of scandals had helped push it into losses of more than 5 billion pounds for 2012, the Financial Times reported.

* One of Citigroup Inc's internal hedge fund units is spinning off, free from its corporate parent and the restrictions that have come with new banking regulations, according to the New York Times.

* At least three Spanish banks, Santander SA, Sabadell SA and Popular Espanol SA, have submitted non-binding bids for nationalised lender Catalunya Banc, three sources familiar with the auction said.

* Best Buy Co Inc has ended talks with founder Richard Schulze over a deal in which he and a group of buyout firms were proposing to take a minority stake in the firm, the Wall Street Journal reported.

* Bushnell, which makes outdoor products and accessories such as eyewear and riflescopes for hunters, is up for a sale in a deal that could be worth $1 billion, three sources familiar with the matter said.

* Paris-based private equity firm PAI Partners is close to swallowing R&R Ice Cream Plc, one of Britain's biggest privately-owned food companies, in a deal worth more than 700 million pounds ($1.06 billion), Sky News reported.

* SunTrust Banks Inc has found at least three private equity firms interested in buying its Ridgeworth Investments asset management unit, sources said, in the bank's third attempt to sell the firm in as many years.

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