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Deals of the day -- mergers and acquisitions

Source : REUTERS
Last Updated: Mon, Dec 17, 2012 21:00 hrs

Dec 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** A consortium of Turkey's Koc Holding, Gozde Girisim and Malaysia's UEM Group Berhad has won a tender for the privatisation of Turkey's toll roads and bridges with a bid of $5.72 billion.

** Miner First Quantum launched a sweetened offer for Canadian rival Inmet Mining, taking to shareholders a deal that values the owner of the giant Cobre Panama copper project at about C$5.1 billion ($5.2 billion).

** General Electric Co is close to finalising an agreement to buy Italian aerospace supplier Avio as early as this week for more than 3 billion euros ($3.95 billion), sources close to the deal said on Monday.

** Vinci has bid 3 billion euros ($3.95 billion) for control of Portuguese airport operator ANA, the highest offer among the four groups competing in the privatisation auction, sources familiar with the transaction said.

** Turkey will sell a stake of around 7 percent in its biggest telecoms company, Turk Telekom, through a secondary public offering in February, sources close to the matter said on Monday.

Work on selling part of the state's 32 percent stake intensified after the government successfully raised 4.5 billion lira ($2.5 billion) from selling part of state-controlled lender Halkbank last month, the sources said.

** Activist hedge fund Elliott Management Corp offered to buy business software maker Compuware Corp for $2.3 billion, seven months after it pushed for a sale of rival BMC Software Inc.

** Clearwire Corp agreed to sell roughly half of the company for $2.2 billion to majority shareholder Sprint Nextel Corp, which would then have full ownership of spectrum that will help it offer high-speed wireless services.

Sprint, the number three U.S. wireless carrier and already the majority owner of Clearwire, raised its offer by 7 cents per share to $2.97 per share.

** Sun Life Financial Inc will sell its U.S. annuity business for $1.35 billion to a firm connected to Guggenheim Partners in a deal that should reduce the exposure of the insurer's earnings to market swings and boost its cash levels.

** The sale of an estimated $1.1 billion stake in Korea Aerospace Industries (KAI), the country's sole aircraft maker, was cast in doubt after Korean Air pulled out of negotiations, marring the privatisation efforts of the outgoing administration.

** Utility holding company Laclede Group Inc will acquire two Southern Union utilities, Missouri Gas Energy and New England Gas Co, from Energy Transfer Equity for about $1 billion, the companies said.

** Shareholders of tractor and construction equipment maker CNH approved plans to merge with parent Fiat Industrial on Monday, creating the world's third-largest capital goods maker by sales.

The two groups will be merged into an as yet unnamed new company in which investors will receive 3.828 shares per CNH share, and one share per Fiat Industrial share. The company will have a secondary listing in Milan.

** Dutch dredger Boskalis raised its cash offer for Dockwise to 714 million euros ($936 million) on Monday and said 72 percent of the maritime transport group's shareholders had accepted its offer.

** Emirates NBD, Dubai's largest bank, has emerged as the frontrunner to buy BNP Paribas' Egyptian retail business, three sources familiar with the matter said, in a deal likely to raise $400-500 million for the French lender.

** Gulf carrier Etihad Airways, seeking to widen operations in India and other Asian markets, is in the final stages of talks to buy part of either Jet Airways or grounded rival Kingfisher Airlines, an Indian government official said on Monday.

** Malaysia's state investor Khazanah Nasional Bhd said it wants to sell its 45 percent stake in Time Engineering Bhd as part of a wider plan to divest non-core assets.

** Fortune Oil Plc said it would sell its natural gas business to China Gas Holdings Ltd for $400 million, giving it the option to raise its stake in China Gas and remain invested in the high-demand energy sector in the world's second-largest economy.

** Spain's largest bank Santander will call an end to the 110 year-old Banesto brand as it fully absorbs its local subsidiary to cut longer-term costs, closing 700 branches.

The all-share deal will cost Santander around 260 million euros ($340.84 million) and will include merging unlisted private banking division Banif.

** French gas firm GDF Suez said it would sell a 60 percent stake in its Canadian wind and solar projects, which has an enterprise value of 1.5 billion euros, as part of its debt reduction efforts. Japan's Mitsui and Fiera Axium Infrastructure are buying the stake, while GDF will remain a minority shareholder and operate the wind and solar parks.

** The Benckiser group agreed to buy Caribou Coffee Co Inc for about $340 million in a deal that would boost the German investment company's position as the No. 2 U.S. purveyor of premium coffee, but still well behind Starbucks Corp .

** Oil company BP Plc said it would sell its interest in the Sean gas field in the UK North Sea to British utility SSE Plc for $288 million.

** Fortis Healthcare Ltd said on Sunday it had decided to sell its 64 percent stake in a dental clinics business in Australia to British medical services group Bupa for A$270 million ($285 million) to focus on high-end healthcare operations in Asia.

** France's Vivalis is set to buy Intercell in a deal valuing the Austrian vaccine maker at around 133 million euros ($174 million), and creating an enlarged player in the European biotech industry.

** Norwegian group Marine Harvest is to buy 48.5 percent of fish processor Morpol for 938 million Norwegian crowns ($166 million) to gain a key position in Germany's smoked salmon market.

** Japan's Tokai Rubber Industries, a maker of rubber parts for automobiles, said it would purchase Italian lubricants producer Dytech-Dynamic Fluid Technologies for 62.5 million euros ($82.26 million).

** MacKenzie Capital Management LLC is offering to buy up to 170 ownership units in Empire State Building Associates LLC, which owns the iconic New York skyscraper, for $110,000 a unit, and said it would support a plan to fold the building into a proposed real estate investment trust (REIT), according to regulatory documents filed on Monday.

** Australia's no.3 iron ore miner, Fortescue Metals Group , is in talks to sell a minority stake in its port and rail assets after receiving strong interest from several strategic and financial parties, it said on Monday.

** Japanese oil refiner Idemitsu Kosan Co said on Monday it acquired 100 percent of an independent Australian oil product distributor, Freedom Energy Holdings Pty Ltd, as part of a goal to expand its business in growing overseas markets.

** Czech utility CEZ put its loss-making Albanian distribution unit up for sale on Monday as it seeks to resolve a dispute with the Balkan country over power imports and prices.

** Riley & Co. and Caris & Co., a pair of southern California-based institutional brokerage firms, said Monday they have combined in an effort to attract more trading and banking assignments in a very slow market.

** Biotechnology company Enzon Pharmaceuticals Inc said it would explore a possible sale of the company or its corporate assets.

** Canada's Competition Bureau has approved two mergers in the domestic hog industry, where producers are struggling to cope with heavy losses caused by higher feed prices.

The bureau said on Monday it would let Maple Leaf Foods Inc buy hog producer Puratone Corp for C$42 million($43 million) as well as allow Olymel LP to buy Blue Sky, Canada's second-largest hog producer, out of receivership for C$65.25 million.




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