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Deals of the day- Mergers and acquisitions

Source : REUTERS
Last Updated: Tue, Sep 17, 2013 20:10 hrs

Sept 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Britain has sold a 6 percent stake in part-nationalized Lloyds Banking Group, raising 3.2 billion pounds ($5.1 billion), the body that manages its shares in UK banks said. The placing price was 75 pence per share, representing a 3 percent discount to Lloyds' closing price on Monday.

** Wing Hang Bank Ltd's controlling shareholders have received preliminary offers from independent third parties to purchase their shares in the bank, which has a market value of $3.3 billion, the Hong Kong-based lender said.

** German car parts maker Schaeffler Group has sold a 3.9 percent stake in automotive supplier Continental AG for about 950 million euros ($1.3 billion) to pay down debt. Schaeffler, which makes ball bearings and clutches, placed 7.8 million shares with international investors at 122.50 euros apiece, which represents a 3.5 percent discount to Monday's closing price.

** Bankers are putting together up to 600 million euros ($801.15 million) of debt financing to back a sale of French construction company Materis' industrial mortars unit Parax, according to banking sources.

** Huntsman Corp is buying Rockwood Holdings Inc's titanium dioxide pigments business for $1.1 billion cash, a deal that could mark the start of a long-expected shake-up in the volatile industry.

** Total and its joint venture partner have agreed to buy Chevron Corp's retail distribution business in Pakistan, following a similar move by the French energy giant to buy the U.S. firm's Egyptian retail business in August.

** Core Italian shareholders in Telecom Italia this month rejected an 800 million euro ($1 billion) offer from Spain's Telefonica to buy part of their stakes, Italian business newspaper Il Sole 24 Ore said. Telefonica is the biggest shareholder in Telco, the holding that controls Telecom Italia with a 22.4 percent stake.

** Oman Telecommunications Co (Omantel) said the government would sell a 19 percent stake in the company through a public subscription that would be open to individual and institutional investors. The government holds a 70 percent stake in Omantel, so the sale would leave the state with a majority 51 percent holding.

** Three bidders - French train operator SNCF, Romania's Grampet Group and Greek building group GEK Terna in cooperation with Russian Railways RZD -are interested in buying a 100 percent stake in Greece's railway network operator Trainose, a source close to the talks said on Monday on condition of anonymity. The sale is expected to raise 200 million euros ($267.05 million).

** Spanish lender Kutxabank said it had sold 5 percent of its stake in Spanish hotel chain NH Hoteles for 3.85 euros ($5.14) per share in a deal worth 60 million euros ($80 million).

** South Korean telecoms operator KT Corp said it is in the early stage of talks to buy a 35 percent stake in state-owned Tunisie Telecom from a conglomerate owned by Dubai's ruler, joining about 10 other bidders.

KT's bid comes after the firm had withdrawn from the bidding for Vivendi's 53 percent stake in Maroc Telecom earlier this year.

** South Korea's Doosan Heavy Industries Co Ltd said it was still in talks with Italian firm Finmeccanica to buy its engineering business Ansaldo Energia.

** South Korea's Kookmin Bank is set to gain majority control over Kazakhstan's fourth-largest lender Bank CenterCredit next year as it plans to acquire a stake in the bank held by the International Finance Corp, CenterCredit said.

** Luxembourg is in talks with Chinese investors over the sale of its 35 percent stake in freight-only airline Cargolux . The government said that representatives of Henan province and investment vehicle Henan Civil Aviation Development and Investment Company had visited Luxembourg airport and the Cargolux headquarters on Monday.

** India's GMR Infrastructure Ltd said it had sold its majority stake in a highway construction unit to the India Infrastructure Fund of IDFC Ltd for about 2.22 billion rupees ($35.33 million), which will help the company reduce its debt.

** Bahrain-based fund Investcorp is one of several investors who have expressed a preliminary interest in buying a stake in Versace, one of Italy's best-known luxury brands. According to sources, the list of those interested includes Italy's strategic fund FSI, AXA Private Equity, UK-based private equity fund Permira and Italy's Clessidra. Versace is expected to sell a 15-20 percent stake.

** Online fashion retailer Dafiti said it would receive $70 million from Canada's Ontario Teachers Pension Plan, in a cash-for-equity transaction that shows resilient investor interest in e-commerce in Brazil.

** IAG, parent of British Airways and Spain's Iberia, will not take part in any European airline consolidation and sees more interesting opportunities elsewhere, its chief executive said. "We don't see anything attractive to buy or merge with in Europe at the moment," Willie Walsh, IAG's CEO, told the World Low Cost Airlines Congress in London.

** Steelmaker ArcelorMittal will sell a 21 percent stake in its Algerian unit at a nominal price to the Algerian state, allowing the country to become a majority shareholder, the state news agency quoted the prime minister as saying on Tuesday.

** Varde Management and Deutsche Bank intend to sell a 13.5 percent stake in British housebuilder Crest Nicholson via an accelerated bookbuilding, they said on Tuesday.

** Polymer Group (PGI), a producer of engineered materials owned by private equity group Blackstone, said it had agreed to buy rival Fiberweb for 183 million pounds ($291 million) after it upped its initial offer.

** Italian merchant bank Mediobanca said its controlling shareholders decided to allow the sale of Fondiaria's 3.8 percent stake in the bank.

** Supermarket operator Safeway Inc adopted a one-year "poison pill" designed to ward off an unwanted takeover after becoming aware of an investor buying "a significant amount" of its stock.




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