Market Chatter-Corporate finance press digest

Mon Dec 31, 2012 9:32am IST

Stocks

   

Dec 31 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* Mumbai-based billionaire Ajay Piramal's eponymous Piramal Group is in advanced talks to buy U.S. private equity firm TPG Capital Management LP's 20.27 percent stake in India's largest truck financier, Shriram Transport Finance Co Ltd , for around 35 billion rupees, the Economic Times reported citing two people with direct knowledge of the negotiations. ()

* Shares of Australia's Sundance Resources Ltd surged more than 17 percent on Monday after the Republic of Congo granted it a key mining permit and following reports China's Hanlong Group plans to complete its long-delayed $1.4 billion takeover by March.

* Taiwan's Chinatrust Commercial Bank is in talks with U.S. investment fund Lone Star Funds and other shareholders of Tokyo Star Bank to take over the Japanese lender for some 50 billion yen ($580.75 million)Japanese media reported on Sunday.

* Carlo Tassara Group, former majority owner of Polish bank Alior Bank SA, is expected to name advisors this week to sell its remaining stake in the company, Il Sole 24 Ore newspaper reported on Sunday.

* Consolidation of European banks is not yet at an end, and Germany's sector with its many small banks will have to change, the co-chief executive of Deutsche Bank AG told a German newspaper.

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