Friday Papers: 3i set for lucrative return with sale of pump-maker - bid news and gossip

Financial Times

* Buy-out group 3i has appointed bankers to auction Hyva, the leading maker of hydraulic pumps for waste and tipper trucks; The sale of the business, which is valued at about €500m, is expected to generate a return of nine times 3i’s initial equity investment.

* China International Capital Corp is facing defections of key staff as two private equity firms – Kohlberg Kravis Roberts and TPG – prepare to take a stake in the investment bank.

* One of the world’s largest high-frequency and market-making firms, Netherlands-based Optiver, said its chief financial officer had resigned from the firm.

* Some of the world’s biggest private equity groups, including Kohlberg Kravis Roberts and TPG, are working on potential bids for Foster’s wine assets after the Australian company rejected a A$2.7bn offer from Cerberus Capital.

* Morgan Sindall, the construction group, has acquired the bulk of Connaught’s social housing maintenance operations.

The Daily Telegraph

* Vodafone has given the clearest indication yet that it is preparing to sell its £33bn stake in US mobile giant Verizon Wireless.

* Vue Entertainment, the cinema chain with more than 650 screens across the UK, has opened talks with a clutch of private equity firms about a £450m sale of the business.

The Guardian

* Dana shareholders keen to accept Korea National Oil Corporation's £1.7bn offer, despite board saying offer undervalues Dana.

* David Montgomery, Mecom founder and chief, quits European media group under pressure from shareholders.