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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Sat, May 26, 2012 18:44 hrs

May 24 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Thursday:

** U.S. media executive Harry Sloan has approached private equity firm CVC Capital Partners to buy a controlling stake in its asset, Australia's debt-ridden Nine Entertainment, a source with direct knowledge of the matter said.

The Australian Financial Review (AFR), which first reported the approach, said Sloan was pushing to value Nine at A$3 billion ($2.9 billion).

** Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba Group, sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc .

** China's Hanlong Mining has put back by six months a target date to seal a A$1.34 billion ($1.3 billion) takeover of Australian iron ore group Sundance Resources, as Chinese investment in Australian resource projects cools this year.

** Silver Lake and Partners Group have agreed to buy Swiss-based tax-free shopping business Global Blue for 1 billion euros ($1.3 billion) from rival Equistone.

** General Mills Inc agreed to buy Brazilian food company Yoki Alimentos SA for about 1.75 billion Brazilian reais ($857 million) as it seeks a greater foothold in Latin America.

** Chesapeake Energy Corp has put 504,000 acres in the DJ Basin in Wyoming and Colorado up for sale, as the U.S. energy company scrambles to raise cash to close a $9 billion to $10 billion funding shortfall.

** Carl Icahn-controlled oil refiner CVR Energy Inc on Thursday started a 60-day hunt for buyers, a process the billionaire investor has said would not be easy.

** Israeli conglomerate Delek Group is examining the sale of its stake in The Phoenix Holdings insurance group in the wake of a government decision to break up some of the country's biggest conglomerates.

** General Electric Co will invest $300 million for an equity stake in a fund run by Brazilian industrial group EBX that invests in Brazil infrastructure projects, EBX and the largest U.S. conglomerate said on Thursday.

** Bharti Airtel, India's biggest mobile phone carrier, said on Thursday it had signed a pact to buy a 49 percent stake in Qualcomm Inc's fourth-generation (4G) broadband venture in the country for $165 million.

** Russian state-controlled telecoms group Rostelecom said on Thursday it would buy a 26 percent stake in Moscow TV network provider Mosteleset for 1.8 billion roubles ($56.76 million).

** Trafigura and U.S. aluminum producer Ormet Corp have formed a joint venture to buy bauxite, alumina and aluminum projects, they said on Thursday, as the Swiss trading house looks to build its physical presence in the aluminum market.

** Spain's No.2 bank BBVA may sell its Latin American pension fund businesses, joining the ranks of banks looking to shed operations outside their main markets to reduce risks and meet tougher capital rules.

** Russia's Sberbank is hopeful a stake sale in it, as part of the nation's wider privatization program, will happen this year, Chief Executive Officer German Gref told Kommersant daily on Thursday.

** Japan's loss-making Renesas Electronics Corp said on Thursday it will tie up with Taiwan Semiconductor Manufacturing Co in the microchip business as it struggles to keep up with aggressive rivals like Samsung Electronics.

** Aviva plc is putting its South Korean and Sri Lankan businesses on the auction block, sources with knowledge of the matter said, adding to the insurer's list of Asia divisions it is selling as part of a global plan to raise money to protect against its euro zone exposure.

** Turkish lender Akbank said Citigroup, which has a 20 percent stake in the bank, has started selling a 10.1 percent stake of Thursday.

** Deutsche Telekom believes a complete sale of its T-Mobile USA unit is unlikely, the company told shareholders on Thursday, as it continues its search for a long-term solution for the troubled business.




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