M&A

17 November, 2009

UPDATE 1-Market Chatter -- Corporate finance press digest

(Adds Hyundai Motor)

BANGALORE, Nov 18 (Reuters) - The following corporate finance-related stories were reported by media on Wednesday:

* Hyundai Motor Co (005380.KS) is planning to sell off its stake in affiliate Hyundai Mobis Co (012330.KS) in block trade to comply with antitrust rules, online media provider eDaily reported on Wednesday. [ID:nSEO289741]

* Apollo Management [APOLO.UL], a private equity firm headed by former Drexel Burnham Lambert executive Leon Black, is planning to list on the New York Stock Exchange, the Financial Times reported. [ID:nN17469097]

* Nippon Telegraph and Telephone Corp (9432.T), Japan's largest phone company, has entered the race to buy a majority stake in Patni Computer System (PTNI.BO), the latest in a string of potential suitors eyeing India's No. 6 software services firm, the Economic Times said on Wednesday. [ID:nBOM526236]

* Mall firm Simon Property Group Inc (SPG.N) has hired investment adviser Lazard Ltd to help it formulate a strategy for possibly bidding for all or part of rival General Growth Properties Inc (GGWPQ.PK), which is operating under Chapter 11 protection, the Wall Street Journal reported. [ID:nWEN6689]

(Compiled by Purwa Naveen Raman in Bangalore; editing by John Stonestreet)

Source: http://www.reuters.com