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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Wed, Aug 29, 2012 13:40 hrs

Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** Private equity firm KKR & Co. LP is in talks to invest about 100 billion yen ($1.3 billion) for control of Japan's Renesas Electronics Corp, sources said, offering a lifeline to the struggling chipmaker and pushing its shares up 35 percent.

** ING Groep NV is exploring a separate sale of its roughly $1 billion Hong Kong insurance business, sources said, a move that could further complicate the auction of its Asian operations.

** Closeout retailer Ollie's Bargain Outlet, known for its signature catch phrase "good stuff cheap," said on Tuesday that private equity firm CCMP Capital Advisors LLC would acquire a stake in the company alongside current management.

Terms of the deal as well as the size of the equity stake were not disclosed, although sources familiar with the transaction have pegged its value at around $500 million.

** Checkers Drive-In Restaurants Inc, a drive-through hamburger chain that could be worth more than $300 million, is being put up for sale by its private equity owner, according to two sources with direct knowledge of the situation.

** Bonavista Energy Corp, a Canadian oil and gas company, has agreed to buy a natural gas-weighted asset in Alberta for about C$155 million ($157.3 million) to boost production by nearly 10 percent.

** Syngenta AG said it would buy DuPont's professional products insecticide business for $125 million in cash to expand the Swiss company's range of pest-control products.

** Hungary's Magyar Telekom will sell its 100 percent-owned radio network operator Pro-M Zrt. for 19.9 billion forints ($88.9 million) at the end of August, the company said in a statement on Wednesday.

** Injectable generic drugs maker Hospira Inc said it plans to buy a factory and a research center from India-based Orchid Chemicals & Pharmaceuticals Ltd ORCD.NS for $200 million.

** Irish foods group Glanbia Plc is proposing to sell 60 percent of its domestic dairy to its largest shareholder, in a shift of focus towards its U.S. cheese and international nutritionals businesses.

** Greece's Piraeus Bank is in advanced talks with French lender Societe Generale to acquire its loss-making Greek unit Geniki, it said in a bourse filing on Wednesday.

** Pizza delivery firm Domino's Pizza UK said it planned to expand further into Europe, acquiring 12 Swiss stores and an option for the Austrian franchise rights.

** SouthGobi Resources Ltd said the proposed sale of the Tsagaan Tolgoi thermal coal project in Mongolia to Australian-listed Modun Resources Ltd has been cancelled. The deal value was estimated at $30 million.

** Polish retailer Eurocash SA confirmed on Wednesday that its controlling shareholder, Luis Amaral, had put a 5-percent stake up for sale to institutional investors.



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