Dec 5 The following corporate finance-related
stories were reported by media on Wednesday:
* British supermarket operator Tesco will launch a
strategic review of its money-losing Fresh & Easy chain in the
United States, Sky News reported.
* Germany's privately owned Intersnack is finalising an
agreement to buy United Biscuits' savoury snacks arm,
KP Snacks, for more than 400 million pounds ($644.million),
Bloomberg reported citing three people familiar with the
discussions. United Biscuits' owners Blackstone and PAI
kicked off the auction in August by hiring Credit
Suisse, after failing to sell the whole company in 2010.
* New York's top state bank regulator is yet to approve
Ocwen Financial Corp's recent agreements to buy two
mortgage servicing firms as a result of concerns about what it
says are unfair loan practices, the Wall Street Journal
reported. Ocwen recently struck deals to buy Homeward
Residential Holdings Inc and the mortgage servicing unit of
Residential Capital LLC.