(Adds Loblaw, CDP Reti, Tencent, La Redoute, Asia Resource
March 21 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Friday:
** Singapore state investor Temasek Holdings has
agreed to buy a 24.9 percent stake in Li Ka-shing's retail
business A.S. Watson for about HK$44 billion ($5.67 billion).
** Media General Inc said it would buy LIN Media LLC
for $1.6 billion to create a broadcaster reaching nearly
a quarter of U.S. households with a television.
** Canadian private equity investment firm Onex Corp
said it would sell Warranty Group, a provider of
extended warranty contracts, to an affiliate of TPG Capital
Management LP for an enterprise value of about $1.5
** The Canada Pension Plan Investment Board (CPPIB) said on
Friday it agreed to buy U.S. life insurance and reinsurance
provider Wilton Re Holdings Ltd for $1.8 billion from a group of
private equity firms, the first foray by the global dealmaker
into the U.S. insurance business.
** Loblaw Cos Ltd, Canada's largest grocer, said the
country's competition watchdog has approved its C$12.4 billion
($11 billion) acquisition of pharmacy chain Shoppers Drug Mart
** The Indian government has raised more than $900 million
by selling a 9 percent stake in Axis Bank Ltd, two
sources with direct knowledge of the development said on Friday.
** China's State Grid Corp and Australian
infrastructure fund IFM are in pole position to take stakes in a
company that controls Italian energy grids, two sources with
knowledge of the matter told Reuters.
Italian state lender Cassa Depositi e Prestiti (CDP) is
offering up to 49 percent of CDP Reti, a vehicle which controls
gas transport company Snam and that should soon also
control power grid operator Terna.
** Coal miner Asia Resource Minerals (ARMS) said
its co-founding Bakrie family had paid the $278 million cash
portion of a long-awaited deal to split from ARMS, which it
hopes will end shareholder battles.
Everything is now in place to complete the separation by
March 25, ARMS said on Friday.
** Swiss engineering group ABB said on Friday it
had agreed to sell its U.S. Thomas & Betts' heating, ventilation
and air conditioning business to U.S. conglomerate Nortek
for $260 million in cash.
** Tencent, China's largest internet company, has
agreed to spend $180 million on a 15 percent stake in online
services provider Leju Holdings, stepping up its rivalry with
fellow online heavyweight Alibaba Group .
** The future of France's loss-making mail order business La
Redoute hung in the balance on Friday after its main unions
rejected a restructuring deal and management said it had no
other option than asking the courts to intervene.
In December, parent luxury group Kering reached a
deal to sell the business for a symbolic 1 euro ($1.38) to La
Redoute's chief executive Nathalie Balla and Eric Courteille,
chief administrative officer of Redcats, La Redoute's immediate
** Spanish property company Colonial said on Friday
it had abandoned plans to sell part of its 53 percent stake in
French business Societe Fonciere Lyonnaise and would
instead issue more new shares to raise funds.
** Swiss food giant Nestle and diversified German
healthcare group Fresenius are among the four groups
that have shown interest in buying the Medical Nutrition unit of
France's Danone, daily Les Echos said on Thursday.
** Britain's Tesco has sealed a joint venture
agreement with a unit of India's Tata Group that will see it
invest $140 million and become the first foreign supermarket to
enter the country's $500 billion retail sector.
** BlackBerry Ltd said on Friday it had
reached an agreement to sell the vast majority of its real
estate holdings in Canada, as part of a plan outlined earlier
this year that is aimed at bolstering the smartphone maker's
** Singapore's Oversea-Chinese Banking Corp Ltd
said it has not entered any biding agreement on its offer to
take over Hong Kong's Wing Hang Bank Ltd, after having
extended the deadlines for the deal twice in the past two
** Sana Kliniken AG, the third-largest private-sector
hospitals operator in Germany, has trained its sights on major
rivals as potential takeover targets in the long term to keep up
with industry leader Fresenius.
** Sinclair Broadcast Group proposed on Thursday to
sell some Allbritton TV stations it agreed to acquire in a deal
last July to meet requirements of broadcasting regulators about
companies sharing advertising and sales staff across competing
** Fairfax Financial Holdings Ltd said on Thursday
that it had purchased an additional 3.4 percent of Torstar Corp
, pushing its total holding in the Canadian newspaper
company to 22.7 percent.
** Private equity firm Golden Gate Capital disclosed a 9.5
percent stake in women's apparel retailer Ann Inc and
said it believed the company's stock was significantly
(Compiled by Avik Das in Bangalore)