Wednesday, May 22, 2013

Reuters: Regulatory News: Market Chatter-Corporate finance press digest

Reuters: Regulatory News
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Market Chatter-Corporate finance press digest
May 23rd 2013, 04:43

Thu May 23, 2013 12:43am EDT

May 23 (Reuters) - The following corporate finance-related stories were reported by media on Thursday:

* Building products maker CPG International is being prepared for a sale by its private equity owner, a deal that could fetch between $1 billion and $1.5 billion, according to three people familiar with the matter.

* A board member at Italy's troubled lender Monte dei Paschi di Siena is being investigated over allegations of breaking insider trading rules and has been suspended, a judicial source said on Wednesday.

* Private equity-controlled power firm Alinta Energy is planning a $1 billion-plus debt issue in the U.S. term loan B institutional market to refinance maturing debt, banking sources familiar with the deal said, joining a growing number of Australian borrowers attracted by the terms and pricing available.

* Title insurer Fidelity National Financial Inc and buyout firm Thomas H. Lee Partners are in advanced talks to acquire mortgage service provider Lender Processing Services Inc , a source familiar with the matter said.

* Blackstone Group LP and Prologis Inc have agreed to buy a portfolio of 17 million square feet of warehouse and distribution centers whose majority owner is Lehman Brothers for about $960 million, two sources familiar with the deal said on Wednesday.

* Carrefour, Europe's largest retailer, is in advanced talks to divest its remaining 25-percent stake in its Middle Eastern joint venture to local partner Majid Al Futtaim, two sources familiar with the matter said.

* India's Srei Infrastructure Finance Ltd is poised to buy the domestic banking unit of nationalised Austrian lender Hypo Alpe Adria for 65.5 million euros ($84.34 million), the newspaper Die Presse said.

* A team including former General Motors Co executive Bob Lutz and China's largest parts maker is looking to buy Fisker Automotive for $20 million, a fraction of the "green" car company's estimated worth almost a year and a half ago.

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