Mergers and Acquisitions: Nestle Talks to LENDERS, Sony Sells CHEMICALS

Rift Acquisitions, a joint venture between Prudential (NYSE:PUK) and Morgan Stanley (NYSE:MS), will purchase 90 percent of Veolia Environnement’s (NYSE:VE) regulated water division in the United Kingdom for £1.24 billion, or $1.92 billion. This divestiture is part of Veolia’s strategy through which it will exit half the 70 countries where it operates, and sell off assets worth €5 billion by 2013, while it attempts to reduce its debt to under €12 billion.

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Nestle (NSRGY.PK) is said to be in advanced discussions with lenders in order to raise $8.7 billion to help finance its $11.85 billion takeover of Pfizer Nutrition. The transaction will be quite expensive, but Nestle enjoys a long reputation as a good borrower, which should afford it lower interest rates.

Sony (NYSE:SNE) is divesting its chemical division and chemical products operations to the state-backed Development Bank of Japan, at a price tag of ¥58 billion, or $727 million.

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