Dec 12 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
** 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
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
** 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
** 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
** 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
** 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
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
** 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.