Deals of the day -- mergers and acquisitions

Thu Dec 13, 2012 2:41am IST

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Dec 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Rosneft has finalised a deal to buy half of TNK-BP for $28 billion, clearing the way for a full takeover that would make the state-controlled Russian oil major the world's largest listed oil firm by output.

** Warburg Pincus LLC has mandated Goldman Sachs Group Inc to explore a sale of eye care company Bausch & Lomb Inc, hoping to fetch more than $10 billion, a person familiar with the matter said on Tuesday.

** Malaysia's Petronas completed its C$5.2 billion ($5.3 billion) takeover of Progress Energy Resources Corp on Wednesday, a deal that was expected to have sailed through Canada's approval process but got ensnared in a heated national debate about foreign control of energy assets.

** Industrial machinery maker SPX Corp has outbid private equity firms competing to buy Gardner Denver Inc by a wide margin, offering to pay more than $4 billion for the rival, according to two people familiar with the matter.

** White Mountains Insurance Group Ltd said it would buy American Fuji Fire and Marine Insurance Co from American International Group Inc. The deal, terms of which were not revealed, is AIG's second asset sale in two days.

** Czech power group EPH is buying a 49 percent stake in Slovakia's SPP in a deal whose value was not disclosed, but sources familiar with the matter have said it could hit 2.5 billion euros ($3.3 billion).

** Chesapeake Energy Corp on Tuesday agreed to sell most of its remaining natural gas processing and gathering assets for $2.16 billion as it continues to sell assets to pay down its heavy debt load.

** Societe Generale will sell its majority stake in Egypt's National Societe Generale Bank to Qatar National Bank for $2 billion, as part of the French bank's bid to meet new capital requirements.

** Hutchison 3G won European Union approval for its 1.3 billion euro ($1.7 billion) takeover of Orange Austria on condition it helped new players enter the market.

** BHP Billiton said on Wednesday it is selling its interest in the troubled Browse liquefied natural gas project to PetroChina International Investment (Australia) Pty Ltd for $1.63 billion.

** Spanish lender Popular is finalising the sale of a 1.14 billion-euro ($1.5 billion) portfolio of distressed consumer loans, as the country's banks start clearing their books of troubled assets.

** United Technologies Corp, the world's largest maker of elevators and air conditioners, said it will sell the power systems business of its aircraft engine unit, Pratt & Whitney, to Mitsubishi Heavy Industries.

Reuters reported in June that the company was looking to sell the business for about $1 billion.

** A major shareholder in Guoco Group, a Hong Kong investment company controlled by Malaysian tycoon Quek Leng Chan, has made an offer to take the company private for HK$8.25 billion ($1.1 billion), further underscoring the dealmaking prowess of Southeast Asians this year.

** India raised $1.1 billion selling a stake in miner NMDC Ltd in a fillip for its efforts to rein in a widening fiscal deficit through sales of state assets.

The government aims to secure $5.5 billion in the current fiscal year ending next March by divesting stakes in state companies, a target many economists consider to be optimistic.

** The German government on Wednesday grabbed the top spot in the country's property deals this year by agreeing to sell a portfolio of commercial properties to investor Lone Star for 1.1 billion euros ($1.4 billion).

** U.S. buyout firm Providence Equity Partners is among suitors advancing to the second round of bidding for Leighton Holdings' Australian fibre-optic network NextGen, sources said, in a deal some analysts see fetching between A$625 million and A$870 million ($657 million-$910 million).

** Renault-Nissan finalised a long-awaited deal to take control of Lada-maker AvtoVAZ as it looks to snatch market share from rivals in Russia by offering affordable modern vehicles to a rising middle class.

Under the deal, first announced in May, Renault-Nissan will invest 23 billion roubles ($742 million) to take control of AvtoVAZ via a 67.13 percent stake in the joint venture by mid-2014.

** Swiss chocolate maker Barry Callebaut is buying the cocoa business of Singapore's Petra Foods to reduce its dependence on West African raw materials as it expands in emerging markets.

Barry Callebaut was already the world's biggest maker of finished chocolate products and the $950 million cash deal will make it the biggest processor of cocoa too.

** Bank of Tokyo-Mitsubishi UFJ, a unit of Mitsubishi UFJ Financial Group Inc (MUFG), plans to buy a 20 percent interest in VietinBank from the Vietnamese government for about 60 billion yen ($725 million), the Nikkei reported.

** Nasdaq OMX Group Inc said it agreed to buy Thomson Reuters Corp's investor relations, public relations, and multimedia services units for $390 million, as the exchange operator builds businesses that do not depend on trading.

** Gilead Sciences Inc will buy Canada's YM BioSciences Inc for about $465 million in cash to access a second experimental drug to treat a rare blood and immune cell disorder.

** French carmaker Renault said it was selling its remaining 6.5 percent stake in truckmaker Volvo as it seeks to cut debt and boost its financial stability.

** Italian fund Idea Fimit Sgr has emerged as a frontrunner to buy Risanamento's huge Santa Giulia development area in Milan and could be close to exclusive talks, two sources familiar with the matter said.

** France's Lafarge is seeking to sell its South Korean unit Lafarge Halla Cement Co for roughly 700 billion won ($650 million) and is currently searching for buyers, South Korean online media Edaily reported on Wednesday.

** Spartan Oil Corp said it has agreed to be acquired by Bonterra Energy Corp and terminated its earlier merger agreement with Pinecrest Energy Inc.

Calgary-based Bonterra on Tuesday offered to buy Spartan for about C$441 million ($446.92 million).

** Finnish kitchen utensils and tools group Fiskars is to buy Royal Copenhagen, the Danish maker of blue and white porcelain, for around 66 million euros ($86 million) from private equity group Axcel.

** Carlyle Group is selling up to $67 million of its stake in Hong Kong-listed Kaisa Group Holdings Ltd, according to a term sheet seen by Reuters.

** LUKOIL Overseas, a firm of Russia's No.2 crude oil producer LUKOIL, sold its 70 percent stake in the Condor exploration and development project in Colombia to Omega Energy Colombia for an undisclosed sum.

** EDF Energy will sell its 819 megawatt (MW) Sutton Bridge gas power station in England to a group of investors led by Australian bank Macquarie, EDF Energy said on Wednesday.

** Talison Lithium Ltd said it will terminate buyout talks with U.S.-based chemical producer Rockwood Holdings Inc, a week after the lithium producer backed a sweetened takeover bid from China's Chengdu Tianqi Industry Group Co.

** San Diego Union-Tribune owner Doug Manchester and Orange County Register owner Aaron Kushner are interested in acquiring Tribune's stable of newspapers, according to people familiar with the situation.

The Tribune Co, owner of the Los Angeles Times and the Chicago Tribune, will be seeking buyers for its newspapers once it emerges from bankruptcy, expected by Dec. 31, these sources said.

** Panasonic Corp may sell its Sanyo digital camera business to Japanese private equity fund Advantage Partners by the end of March, a source familiar with the plan said.

** Qatar Airways is interested in the privatisation of Czech Airlines (CSA), but has not taken a decision on whether to participate in it, the chief executive of the Gulf carrier said on Tuesday.

The Czech government said last week it was in early stage talks with Qatar Airways and Korean Air over the privatisation of the carrier, adding a decision on privatisation could be taken as early as April.

** South Korea's STX Corp said it is considering selling a controlling stake in its shipping unit STX Pan Ocean Co Ltd and is in talks with one or more strategic investors. The stake was worth 241.8 billion won ($224.56 million) as of Tuesday's closing price.

** Brazilian antitrust regulator Cade gave approval on Wednesday for Portugal Telecom to hold its stake in local phone company Oi SA without restrictions.

** Austria's competition regulator plans to allow U.S. hedge fund GoldenTree Asset Management to raise its stake in Austrian bank Bawag PSK to up to 40 percent, it said on Wednesday.

** Dubai Group, an investment vehicle restructuring $10 billion of debt, is in talks to sell its stake in Oman National Investment Corp Holding (ONIC), three sources aware of the matter said on Wednesday.

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