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Deals of the day- Mergers and acquisitions
November 20, 2014 / 11:23 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds Apache, Millennium BCP, TRW Automotive, Tech Mahindra, Kotak Mahindra Bank)

Nov 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Thursday:

** Citigroup Inc is considering a sale of its index business, two sources familiar with the situation said on Wednesday, making it the latest bank to think about jettisoning benchmarking amid increased regulatory scrutiny.

** Dollar General Corp said on Wednesday it is in talks with the U.S. Federal Trade Commission (FTC) over the number of stores it will have to sell to receive approval for an acquisition of Family Dollar Inc.

** The German healthcare group Fresenius and the Permira investment fund have made a joint offer for the medical nutrition arm of Danone, The Wall Street Journal said, citing sources close to the matter.

** Portugal’s Millennium BCP may sell a stake of around 10 percent in Polish lender Bank Millennium to boost its capital, two financial sources told Reuters.

** Apache Corp said it would sell oil and gas assets in southern Louisiana and the Anadarko Basin, spanning western Oklahoma and the Texas Panhandle, for about $1.4 billion in two separate deals.

** Shareholders in auto supplier TRW Automotive approved a $12.4 billion takeover offer by Germany’s ZF Friedrichshafen, the companies said, paving the way for a new global automotive supply powerhouse to rival Robert Bosch .

** Software services company Tech Mahindra Ltd said it would buy Virginia-based network services operator Lightbridge Communications Corp for $240 million to boost its presence in the United States.

** Indian private lender Kotak Mahindra Bank Ltd said its board had approved the acquisition of local rival ING Vysya Bank Ltd in an all-stock deal, a move that could kick-start consolidation in the banking sector.

** French Oil and gas services firm CGG has rebuffed a 1.47 billion euro ($1.84 billion) takeover offer from larger rival Technip, as the industry battles hefty cost cutting among its largest clients as oil prices drop.

CGG is considering putting itself up for sale after rebuffing the offer, Bloomberg reported on Wednesday.

** VTB Capital, the investment arm of Russian lender VTB Bank, has ended talks to buy a majority stake in the Italian fashion house Roberto Cavalli, the Wall Street Journal reported, citing three people familiar with the matter.

** Japanese trading house Itochu Corp has hired JPMorgan Chase & Co to run an auction for PrimeSource Building Products Inc, according to people familiar with the matter. Itochu is seeking more than $1 billion for the largest distributor of screws and nails in the United States.

** LeapFrog Investments, a private equity firm backed by George Soros and JP Morgan, has bought a majority stake in Kenyan insurer Resolution in a deal valued at 1.68 billion shillings ($18.64 million).

** Swiss financial company Eurofin, criticized by Portugal’s markets watchdog for helping Banco Espirito Santo (BES) raise money as it headed towards collapse earlier this year, is in the process of largely shutting down, the Wall Street Journal said.

** Spanish property investment company Hispania said it was considering a takeover offer for real estate group Realia at 0.49 euros a share, which would equate to about half its market value.

** Brookfield Asset Management Inc said on Wednesday that it was abandoning an earlier offer to buy the shuttered Revel Casino Hotel in Atlantic City, New Jersey. ($1= 0.7989 euro) ($1 = 90.1500 Kenyan shillings) (Compiled by Neha Dimri in Bangalore)

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