Michigan Finance Authority to sell $92 mln notes – market source

19, said a market source on Monday. JP Morgan is the lead manager on the sale. Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links.

Indiabulls Housing Finance buys back Amaprop’s 42.5 percent stake in subsidiary for $42.5 mln

* Russia’s Onexim group, owned by tycoon Mikhail Prokhorov, is in talks to buy half of mobile phone retailer Svyaznoy, Kommersant newspaper said on Friday, citing sources. * CVC Capital Partners Ltd and KKR & Co have expressed interest in buying Neiman Marcus Inc, the luxury retailer that filed for an initial public offering in June, Bloomberg reported, citing people familiar with the matter. () * Starboard Value LP, an investor in Smithfield Foods Inc , approached buyout firms and meat processors to encourage them to form a bidding group to derail a Chinese takeover, said two people familiar with the process, Bloomberg reported. ()

Market Chatter-Corporate finance press digest

Amaprop, a US-based private equity firm, had invested in Indiabulls Finance, a non-banking finance company, in 2005 for around Rs 130 crore. This means it will encash around 2x in Indian currency in its eight-year old investment though on repatriation its returns would translate into 41 per cent gains in US dollar terms. With the buyback, Indiabulls Finance has become a wholly owned arm of Indiabulls Housing Finance, one of the largest private housing finance firms in the country. Indiabulls Housing Finance has a loan book of Rs 37,000 crore (having grown at a CAGR of 26 per cent in the last five years). — Copyright 2013 VCCircle.com.

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