January 22, 2013 / 9:04 PM / 5 years ago

Deals of the day - mergers and acquisitions

(Adds AT&T, PKO BP, Urenco, Spirit Realty Capital, Microsoft Corp)

Jan 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** Poland is offering to sell an 11.75 percent stake in the country’s top lender PKO BP worth some 5.3 billion zlotys ($1.7 billion) to bring in fresh privatisation funds to the state coffers, market sources told Reuters on Tuesday.

** Germany gave the green light to its utilities’ plans to sell their stakes in Urenco, clearing the way for a long-awaited tender for the world’s second-largest maker of nuclear fuel.

A consortium behind a former Urenco director told Reuters on Tuesday it was ready to make a bid for the unlisted uranium enricher, which it values at around 10 billion euros.

** France’s Areva and Japan’s Toshiba Corp are considering bids for nuclear fuel producer Urenco, but British, German and Dutch authorities disagree over what to do with the ultra-secret firm, industry sources said.

Britain is keen to sell its 33 percent stake, and German utilities RWE and E.ON are talking to potential buyers over their combined 33 percent, but the Dutch government is not considering a sale.

** Spirit Realty Capital Inc said it will merge with Cole Credit Property Trust II to create a commercial real estate firm with a combined enterprise value of $7.1 billion.

** Microsoft Corp is in discussions to invest between $1 billion and $3 billion of mezzanine financing in a buyout of Dell Inc, CNBC cited unidentified sources as saying on Tuesday.

** Base metal miner Inmet Mining Corp asked shareholders to reject rival First Quantum Minerals Ltd’s C$5.1 billion ($5.13 billion) takeover offer, calling the bid inadequate, and said it was in talks with third parties for alternative deals.

** Thailand’s third-richest man is set to take control of Fraser and Neave Ltd (F&N) in Southeast Asia’s biggest M&A deal after a group led by an Indonesian tycoon bowed out of a two-month bidding war for the $11.4 billion Singapore company.

** Slovakia remains keen for U.S. Steel Corp to keep ownership of its steel mill, the largest private employer in the euro zone country.

** Japan’s Mitsubishi Corp has agreed to buy a 50 percent stake in Eneco’s 129-megawatt wind farm, being built off the coast of the Netherlands that will produce electricity for 150,000 households once it comes online in 2015, the companies said.

** A Seattle-based investment group led by hedge fund manager Chris Hansen and Microsoft Corp Chief Executive Steve Ballmer has signed a binding agreement to buy a controlling interest in the Sacramento Kings basketball team, according to a statement on the group’s website.

** Hong Kong paint maker Wuthelam Group plans to launch an open bid for a controlling 45 percent stake in Japan’s Nippon Paint Co for about 70 billion yen ($778 million) to expand market share overseas, public broadcaster NHK said.

** AT&T will pay $780 million in cash to acquire Atlantic Tele-Network Inc’s U.S. retail wireless operations operating under the Alltel brand, AT&T said on Tuesday, announcing a move aimed at boosting its service in rural areas.

** Mobile network equipment maker Ericsson is to buy some of the service activities of French technology consultancy company Devoteam.

Ericsson is to acquire Devoteam Telecom & Media operations in France and 400 France-based IT professionals will join Ericsson, the Swedish group said.

** Patrick Zelnik, the owner of French music label Naive Records, is considering an offer to buy retailer Virgin Megastore France, which is undergoing a court-ordered restructuring, according to newspaper Les Echos.

** BASF won over enough Pronova shareholders with its sweetened takeover offer to secure full control of the Norwegian fish-oils maker.

The German chemicals giant said it was tendered 97.7 percent of Pronova shares by the Friday deadline, more than the 90 percent it needed.

** Spanish bank Popular said it had agreed to sell a debt recovery business in Spain to the EOS Group, a supplier of the bank owned by financial services group Otto.

The business was valued at 135 million euros ($180 million) and would generate a one-off earning of 133 million euros for the bank, Popular said.

** Oslo-listed offshore rig group Seadrill and Malaysia’s SapuraKencana have extended the due diligence process for Seadrill’s tender rig division, Seadrill said.

** Santander is considering making a 2 billion pound ($3.2 billion) bid for National Australia Bank’s UK business to accelerate its British expansion, the Sunday Times reported citing unnamed sources.

** Restructuring specialist Hilco has bought the debt of HMV , according to sources close to the situation, giving it a big influence in the fate of the British entertainment retailer which fell into administration last week.

** Italian private equity fund Clessidra is still bidding for the country’s third-largest commercial broadcaster, Telecom Italia Media, after its partner Equinox pulled out, a source close to the matter said.

** America Movil, the telecom giant controlled by Mexican tycoon Carlos Slim, announced a deal that will boost his access to Mexico’s advertising market even as local regulators block Slim from offering pay television services.

** Diversified specialty chemicals company Om Group Inc said it will exit its core advanced materials business and sell its downstream part to a joint venture led by Freeport-McMoRan Copper & Gold Inc in a deal valued up to $435 million.

** Gulftainer Co Ltd, the United Arab Emirates’ second-largest port operator, is close to acquiring a 25 percent stake in Russia’s Baltic port of Ust-Luga, the Kommersant business daily reported, citing a port source.

** Dubai’s Majid Al Futtaim (MAF) expects to bid for the supermarket arm of Egypt’s Mansour Group in the first quarter, MAF’s chief executive said, after it posted a 10 percent rise in annual revenue.

** Abu Dhabi’s Etihad Airways will finalise a deal to buy a stake in India’s Jet Airways on Friday, CNBC TV18 reported, in what would be the first such investment by a foreign carrier in an Indian airline since rules were relaxed last year.

** Essilor International, the world’s largest maker of corrective lenses, said it had struck deals in several fast-growing markets as part of its bid to boost revenue from emerging countries by 2015.

Essilor, without disclosing price details, said it had agreed to buy majority stakes in Colombian prescription laboratory Servi Optica, in Turkish lens distributor Isbir Optik and in Chinese distributor Tianhong.

** A consortium led by Spain’s Enagas said it would not submit an offer for TIGF, the gas network and storage business of French oil company Total.

** The boards of Portugal’s Zon Multimedia and Optimus approved a merger to create the country’s second-largest telecoms firm, setting the stage for tougher competition for former state monopoly Portugal Telecom.

** Private equity firm EQT has pulled the sale of German academic publisher Springer Science+Business Media because it believes it can achieve a better price later in the year, the Financial Times reported on its website.

** Abu Dhabi’s two biggest property firms have agreed a state-backed, all-share merger to create a business with $13 billion of assets which the government hopes can stabilise a market hit by oversupply and falling prices.

The tie-up between Aldar Properties, which has been bailed out by the Abu Dhabi government over the past two years with around $10 billion in funding, and Sorouh Real Estate creates the second-largest listed property firm in the United Arab Emirates and one of the biggest in the Middle East. (Compiled by Vishal Krishnan Menon in Bangalore)

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