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Deals of the day -- mergers and acquisitions
April 5, 2012 / 9:09 AM / 6 years ago

Deals of the day -- mergers and acquisitions

April 5 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Thursday.

** The pension fund of Portugal’s Millennium bcp bank has agreed to sell its 10 percent stake in cement maker Cimpor to Brazilian conglomerate Camargo Correa, reinforcing the chances of Camargo’s takeover bid for Cimpor to succeed.

** Beauty company Coty Inc is expected to start reaching out directly to Avon Products Inc’s major shareholders next week to sell them on the merits of its $10 billion bid to buy the world’s largest cosmetics direct seller, sources close to the matter said.

** FedEx Corp said it is buying family-owned Polish shipping company Opek Sp.z o.o, for an undisclosed amount, as it steadily expands in Europe.

** Japan’s government plans to take a majority stake in Tokyo Electric Power Co (Tepco), with a 1 trillion yen ($12.16 billion) capital injection, in a deal that may see it gain more than two-thirds of the company’s voting rights, the Nikkei reported on Wednesday.

** Blackstone agreed on Wednesday to buy 69 warehouses in the United States valued at around A$800 million ($820.4 million) from Australia’s Dexus Property Group, Bloomberg reported citing a person with knowledge of the deal.

** U.S. healthcare products and medical device maker Covidien said it would buy Israel-based Oridion Systems for about $300 million in cash.

** The sale of the Egyptian arm of Greece’s Piraeus Bank , valued at over $200 million, has attracted five potential bidders from the Middle East and North Africa region, two sources told Reuters.

** HSBC Holdings PLC said it would sell its 19.9 percent stake in Montagu Private Equity LLP to MLLP Holdings Limited, a company indirectly owned by Montagu’s management, and will acquire assets worth about 5.7 million pounds ($9.05 million) on completion.

** Greece’s EFG Eurobank is close to a deal to sell its 70 percent stake in Turkish unit Tekfen to Kuwait’s Burgan Bank, it said.

** Sweden-based telecoms firm TeliaSonera said it has sold its stake in Cambodian telecoms operator Smart Mobile and in a related move boosted its holding instead in Nepal’s biggest mobile firm, Ncell.

** The sale of a controlling stake in Russia’s largest carmaker AvtoVAZ to Renault-Nissan will be postponed until at least the end of April, said the head of Russian Technologies, which holds a nearly 30 percent stake in AvtoVAZ.

** Italian market regulator Consob said on Wednesday EDF needed to raise the price it had proposed to buy out shareholders of Italy’s Edison, putting a question mark over the French group’s plans to take control of the Italian utility.

** Owners of Slovenia’s Mercator are likely to form a consortium later in April to sell some 68 percent of the country’s largest food retailer, daily Finance reported.

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