Deals of the day -- mergers and acquisitions

Fri Dec 28, 2012 4:15pm EST

Dec 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2115 GMT on Friday:

** China's CNOOC Ltd said it expects its $15.1 billion takeover of Canadian oil and gas producer Nexen Inc to close in the first quarter of 2013 at the earliest, a move that could be aimed at giving U.S. regulators more time to approve a sensitive aspect of the deal.

** News Corp said it bought SportsTime Ohio, a Cleveland-based regional sports network that broadcasts Cleveland Indians baseball games. The company did not disclose financial details.

** Polish oil refiner PKN Orlen has sold some of its so-called mandatory oil stocks to Royal Bank of Scotland for $383 million, freeing up funds for the company's energy and shale gas exploration projects.

** ZTE Corp, China's second-largest telecoms equipment maker, agreed on Friday to sell 81 percent of an environmental monitoring business for 1.3 billion yuan ($208.5 million), which will contribute to its bottom line in 2013.

** Aerospace and defense components supplier Woodward Inc agreed to buy the California-based hydraulic thrust reverser actuation systems business from U.S. conglomerate General Electric Co for $200 million in cash. The business makes products for commercial aircraft such as the Boeing 737 and Airbus A320.

** Spanish utility Iberdrola has agreed to sell its 20 percent stake in the Medgaz pipeline to Belgian company Fluxys as it disposes of assets to cut its debt.

Iberdrola said on Friday the 146 million euros ($193 million) sale had been agreed on Thursday. Other shareholders in the Medgaz pipeline, which runs between Algeria and Spain, include oil firm Cepsa and Algeria's state-owned Sonatrach.

** Russian oil-to-telecoms conglomerate Sistema said it bought a 50 percent stake in railcar operator Financial Alliance for 3.4 billion roubles ($112 million) as it aims to consolidate its rail assets.

It acquired the stake from its subsidiary Bashneft , a mid-sized Russian oil company which is divesting non-core assets.

** British education and media publisher Pearson Plc has agreed to acquire a 5 percent stake in Barnes & Noble Inc's Nook Media unit for $89.5 million.

** French media group NRJ has offered to pay 70 million euros ($93 million) to buy Virgin Radio, the musical radio station that its owner Lagardere Active is looking to sell, Les Echos said.

** Belgian banking and insurance group KBC said it had agreed to sell its 22 percent stake in Nova Ljubljanska Banka (NLB) to Slovenia for 2.8 million euros ($3.7 million), one of the last remaining divestments required by EU regulators.

** Italian airline Alitalia, still reeling from financial troubles in 2008, denied media speculation about a possible tie-up with state railway operator Ferrovie dello Stato.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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