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Deals of the day - mergers and acquisitions

Source : REUTERS
Last Updated: Sun, Feb 17, 2013 06:52 hrs

Feb 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Abu Dhabi telecom firm Etisalat is talking to banks about a syndicated loan of up to $8 billion to finance a bid for Vivendi's 53 percent stake in Maroc Telecom , banking sources said on Friday.

** A group of Finnish firms has taken on German utility E.ON's 34 percent stake in nuclear consortium Fennovoima, in a bid to keep plans for a new reactor in northern Finland on track. The biggest partner in the project, originally estimated to cost around 4-6 billion euros ($5-8 billion), will be stainless steel firm Outokumpu Oyj with a stake of 15 percent.

** Shareholders representing a large majority of Greek lender Eurobank have accepted an all-share buyout offer from larger rival National Bank, meaning their merger will go through, a senior NBG official said on Friday.

** Japanese financial services firm Orix Corp will buy Dutch asset manager Robeco from its owner Rabobank for about 240 billion yen ($2.6 billion) in a cash and stock deal, sources familiar with the matter said.

** PrimeAg Australia Ltd said it will sell 60 percent of its assets for $123 million to $126 million. PrimeAg said TIAA-CREF Global Agriculture has agreed to acquire some of PrimeAg's cropping and livestock properties in New South Wales at a premium to its book value, but at a "slight discount to independent valuations."

** Hong Kong-based Pyrrho Investments launched a 65-million-pound ($101 million) counter-offer for office space provider MWB Business Exchange on Thursday, a move that could trigger a bidding war with Britain's Regus Plc.

The investment fund's bid is at a 62.4 percent premium to the 40 million pounds offer Regus made for the company in December.

** Indian state-run gas company GAIL, in a tie up with EDF, has placed a non-binding bid for Repsol's LNG assets in Trinidad and Tobago, Canada and Peru, the Indian company's chairman said. The bid value was not disclosed

** Investment bank Gleacher & Co Inc gave up its search for a buyer or fresh capital and reported its fourth quarterly loss in a row. Gleacher said it would sell its mortgage lending unit ClearPoint to Ocwen Financial Corp for an undisclosed price.

** Stifel Financial Corp bought KBW Inc for about $575 million in cash and stock.

** KEYreit, a real estate investment trust that owns small retail properties across Canada, rejected an unsolicited partial takeover bid from Huntingdon Capital Corp , saying the proposal was inadequate and coercive.

** France Telecom said it agreed on an option to sell its 20 percent minority stake in Portugal-based telecom operator Sonaecom to majority owner Sonae.




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