M&A

16 November, 2009

UPDATE 1-Market Chatter -- Corporate finance press digest

(Adds Korea Electric)

BANGALORE, Nov 16 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* U.S. investment bank J.P. Morgan (JPM.N) will offer 500 to 525 pence per share to buy out the 50 percent stake it does not already own in its UK stockbroker joint venture with Cazenove, according to a report in the Sunday Telegraph. [ID:nLF241773]

* UC RUSAL, the world's largest aluminium producer, is close to a deal to restructure $7.4 billion in debt to foreign banks which is crucial for the Russian firm's planned $2 billion IPO in December, a newspaper reported. [ID:nHKG138350]

* Jaguar Land Rover (TAMO.BO) is expected to announce on Monday that it has secured a 170 million-pound ($282.5 million) working capital facility from GE Capital [GECAIC.UL], the Financial Times newspaper said. [ID:nLG120998]

* State-run Korea Electric Power Corp (KEPCO) (015760.KS) has dropped plans for a $700 million global bond issue, a local media report said on Monday. [ID:nSEL002752]

* Germany's largest steelmaker ThyssenKrupp (TKAG.DE) has sold its U.S. scaffolding unit Safway to Odyssey Investment Partners for an undisclosed price, Handelsblatt newspaper reported citing industry sources. [ID:nLF041713] (Compiled by Purwa Naveen Raman in Bangalore)

Source: http://www.reuters.com