Business news for Mon, 24 Dec 2007 & with words executive+officer. 3 news.

CAP Gemini SA rose the most in almost five years in Paris trading after the Hindustan Times reported that India's Wipro Ltd may offer to buy Europe's largest computer-services company for as much as US$7 billion. Cap Gemini isn't in talks with Wipro about a takeover, the Paris-based company said after the market closed. The shares climbed 4.29 euros, or 11 percent, to 45 euros, the biggest advance since February 2003. Wipro gained the most since May 2004 on the Bombay Stock Exchange. Cap Gemini, led by Chief Executive Officer Paul Hermelin, in February bought Houston-based Kanbay International Inc for US$1.25 billion, doubling its Indian work force. Bangalore-based Wipro, India's third-largest software services exporter, may bid for Cap Gemini by the end of January, the Hindustan Times newspaper reported on Sunday, citing "investment banking sources." "There's arguably a super merger to do between a large Indian and a large European player," Jonathan

Merrill Lynch & Co, the world's biggest brokerage, agreed to sell most of its commercial finance business to General Electric Co's finance arm for an undisclosed price to free up capital after subprime losses. The sale of Merrill Lynch Capital's corporate, equipment, energy and healthcare finance units is expected to be completed in the first-quarter, the companies said yesterday in a Business Wire statement. The deal will add more than US$10 billion in assets to GE Capital. The transaction is part of New York-based Merrill Lynch's "strategic focus on divesting non-core assets," and will release about US$1.3 billion of capital to be redeployed elsewhere, said Chief Executive Officer John Thain in the statement. Merrill, on October 24, announced US$8.4 billion of writedowns on mortgage-related investments and corporate loans. The firm, which ousted Stan O'Neal as CEO in October, may report an additional US$8.6-billion writedown for the fourth quarter, according to David

CENTRO Properties Group, the Australian owner of US malls which lost 80 percent of its market value last week, has hired three advisers to help it refinance debt and negotiate funding options that may include selling assets. Lazard Carnegie Wylie will "facilitate any transaction" and find investors to help repay or settle bank debt, Jim Kelly, a spokesman for Centro in Sydney, said yesterday, Bloomberg News reported. KPMG will negotiate with Centro's bankers to help refinance A$3.9 billion (US$3.4 billion) by a February 15 deadline and Freehills will act as the company's legal advisers, Kelly said. Chief Executive Officer Andrew Scott said last week he may sell some of Centro's more than A$25 billion of shopping centers in the US, Australia and New Zealand after more than A$4 billion was wiped from the company's market value, making it Asia's worst casualty so far of the global credit squeeze. Melbourne-based Centro's eight most valuable properties are in Australia and