Deals of the day -- mergers and acquisitions

Mon Nov 19, 2012 4:00pm EST

(Adds Total, Pacific Rubiales, Terra Firma, Fiat, First Reserve Corp and SK Capital, Chengdu Tianqi, Sina, BCE Inc)

Nov 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** HSBC said it was in talks to sell its $9.3 billion stake in China's Ping An Insurance, stepping up a program by Europe's biggest bank to shed non-core parts of its business to boost profitability.

** Private equity firm Terra Firma said on Monday it had agreed to buy Annington Homes from Nomura International in a deal worth 3.2 billion pounds ($5.1 billion).

** Rupert Murdoch's News Corp is expected to announce this week that it will acquire a 49 percent stake in the YES Network from the New York Yankees baseball team and its partners, in a deal that would value the sports channel at $3 billion, a person with knowledge of the talks told Reuters.

** BCE Inc, Canada's biggest telecom company, is seeking regulatory approval for a revised C$3 billion ($3 billion) plan to take over Astral Media Inc after the country's broadcast regulator rejected its previous bid.

** Shares of Sina Corp surged almost 13 percent on Monday after an influential Chinese newspaper reported that Alibaba Group, the country's largest e-commerce company, planned to buy a stake in its popular "Weibo" microblogging service.

The China Business News, which is owned by the Shanghai city government, cited sources as saying over the weekend that investment negotiations between Alibaba and Sina have entered the final phase, valuing Sina Weibo at around $3 billion.

** Total SA is selling a 20 percent stake in a Nigerian offshore oil field to China's Sinopec in a $2.5 billion deal which will help the French oil group fund its ambitious exploration plans.

** Networking equipment company Cisco Systems Inc said it will buy privately held cloud networking company Meraki for $1.2 billion in cash as part of its cloud and networking strategy.

** The owners of Australia's largest equipment-hire firm, Coates Hire, hope to sell their entire stake in the company in a deal that could fetch more than A$3 billion ($3.1 billion), sources with direct knowledge of the plans said.

** China's Chengdu Tianqi Industry Group Co said on Monday it made a formal takeover offer for Talison Lithium Ltd , valuing the lithium producer at C$806 million ($803.31 million) and topping a friendly deal with Rockwood Holdings Inc .

** First Reserve Corp and SK Capital Partners believe their $705 million offer for chemical maker TPC Group Inc fairly values the company and they intend to close the deal before Christmas, a person familiar with the firms' thinking said.

** Canadian oil and natural gas producer Pacific Rubiales Energy Corp will buy rival Colombia-focused C&C Energia Ltd in a deal valued at about C$500 million ($500 million) as oil production in the South American country regains momentum after years of decline.

** Telekom Austria wants to go ahead with a planned 390 million euro ($496 million) acquisition of budget operator Yesss despite cashflow issues, its CEO told a newspaper.

** TAG Immobilien won a bid for the residential arm of state-owned real estate firm TLG, paying 471 million euros ($598.4 million) including debt as part of a deal that may be the German property sector's biggest this year.

** Orthopedic device maker Wright Medical Group Inc will buy BioMimetic Therapeutics Inc for up to $380 million in cash and stock to gain access to the regenerative medicine maker's bone graft product.

** Italian tractor and truck maker Fiat Industrial upped its offer to buy out the minority shareholders of CNH Global by a quarter, giving them two days to agree to a sweetened deal.

** Italy's strategic investment fund FSI and Qatar Holding have signed a joint venture agreement to invest in Italian companies in sectors including food, fashion and luxury, furniture and design, tourism and leisure, FSI said.

** Nav Canada, the private company that manages air traffic over Canada, said it would spend $150 million for a controlling stake in a joint venture with Iridium Communications Inc that will track planes over oceans in real time.

** ThyssenKrupp will open its books to remaining prospective bidders for its U.S and Brazilian steel mills and ask them to make binding offers for the loss-making plants, the company said.

** Russian email-to-social networking group Mail.Ru has sold all the shares it owned in U.S. daily deal website Groupon and game maker Zynga, according to the company's website.

** Japan's Nidec Corp is interested in Finmeccanica's power engineering unit AnsaldoEnergia and is ready to invest 1 billion euros ($1.27 billion) to expand its presence in Europe, president Shigenobu Nagamori told Italian daily Il Sole 24 Ore.

** Russian tycoon Mikhail Prokhorov's Onexim Group wants to turn around Renaissance Capital, the emerging markets investment bank that it is taking over from founder Steven Jennings, CEO Dmitry Razumov told Reuters.

** Australia-based media concern APN Ltd is to sell some small New Zealand newspapers, but will keep the country's biggest daily paper and radio networks, the company said.

** Japan's Komatsu and China's Sinomach are to battle it out to buy German machine tool maker MAG Group , three sources familiar with the sale process told Reuters.

** Italian construction group Gavio, fighting with rival Salini for control of Italy's biggest builder, Impregilo , has ruled out a full takeover bid, the group's head said in La Stampa.

** Qatar Airways is to sell its stake in Luxembourg's all-cargo airline Cargolux after a disagreement over the future direction of the airline, a Cargolux spokeswoman said.

** Ukrainian mining group and steel producer Metinvest denied a weekend newspaper report that it has agreed to buy the Slovakian unit of U.S. Steel Corp. (Compiled by Vishal Krishnan Menon and Vrinda Manocha in Bangalore)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.