Deals of the day -- mergers and acquisitions
Dec 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:
** A Malaysian tycoon's 1.5 billion ringgit ($489.40 million) buyout offer for commodities firm Tradewinds Bhd underscores a privatization drive in Southeast Asia as low share prices and cheap finance entice dealmakers to snap up assets.
** Jizhong Energy Resources bought Hebei Aviation Investment Group's 15 percent stake in Xiamen Airlines for 1.9 billion yuan ($307.8 million), Xiamen's parent China Southern Airlines said late on Wednesday.
** India has rejected a proposal by autos-to-software conglomerate Mahindra & Mahindra Ltd to set up a joint venture with Israel's Rafael Advanced Defense Systems Ltd, a government statement said on Wednesday.
According to media reports, the companies were to invest about 1 billion rupees ($18.20 million) to develop and manufacture naval systems.
** India's cabinet approved selling a further stake in state-run Rashtriya Chemicals & Fertilizers Ltd, a minister said on Wednesday.
** VietinBank, Vietnam's second-biggest partly private lender by assets, is set to sign a deal to sell shares to Japan's Bank of Tokyo-Mitsubishi UFJ, making the Japanese lender its strategic investor, a VietinBank official said on Wednesday.
** Medical device and products maker Covidien Plc on Wednesday said it has a definitive agreement to acquire CV Ingenuity, a privately held company focusing on treatments for peripheral arterial disease.
Financial terms of the deal, expected to close in the first quarter of 2013, were not disclosed.
($1 = 6.235 yuan) (Compiled by Balaji Sridharan and Garima Goel in Bangalore)
- White House reverses, says Obama met uncle and lived with him during law school
- Flights delayed as air pollution hits record in Shanghai
- South Africa mourns Mandela, will bury him on December 15 |
- Analysis: Boeing bidders dangle goodies to win 777X jetliner
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image