Deals of the day -- mergers and acquisitions

Thu Mar 7, 2013 3:59pm EST

March 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1600 GMT on Thursday:

** Citigroup Inc put its consumer finance units in Brazil up for sale, a source with knowledge of the situation told Reuters, in a deal that might fetch the New York-based bank as much as 1.5 billion reais ($761 million).

** Lithuanian gas utility Lietuvos Dujos said it would spin off its gas transport arm by end-July and that EU rules would force Gazprom and E.ON Ruhrgas to sell their stakes in the new firm.

The new gas grid operator, called Amber Grid, will take 1.6 billion litas ($602.4 million) or 57.4 percent of the utility's assets, Lietuvos Dujos said.

** Private equity firm Sycamore partners will take teen apparel retailer Hot Topic Inc private in a $600 million deal, adding to a retail portfolio that includes Talbots Inc.

** Troubled Scandinavian airline SAS took another step in its long-term survival and cost cutting plan by agreeing to offload its ground handling business to Swissport.

** Danish renewable energy firm Greentech Energy Systems and asset manager Foresight Group have agreed to form a joint venture to invest in solar photovoltaic projects in the United States.

Denmark's Greentech will take a 51 percent stake in the joint venture and UK-based Foresight will hold the remaining 49 percent, they said.

** Phillips 66 may shed its non-core refinery interests in Europe and Asia, an executive told analysts, mentioning three plants that were either small or in markets where the company saw no growth opportunities.

** Media group Lagardere set a timetable for its exit from EADS on Thursday, pledging to sell its 7.4 percent stake in the European aerospace and defense group before July 31.

** Brazilian homebuilder Gafisa SA is discussing the sale of its high-end Alphaville unit with three potential buyers, including Sam Zell's Equity International, a local newspaper reported on Thursday, citing sources.

Gafisa owns 80 percent of Alphaville, which could be worth about 1.8 billion reais ($914 million), according to the report in O Estado de S. Paulo. The sale would help Gafisa reduce its debt, which is among the highest in Brazil's construction sector.

** Activist investor Carl Icahn urged Dell Inc to pay out $15.7 billion in a special dividend, joining a growing chorus of opposition to founder Michael Dell's plan to take the world's No. 3 personal computer maker private.

** PPR is close to snapping up Milanese jeweller Pomellato in a deal that would allow the French luxury and sports brand group to expand in a sector in which it has a small presence, sources close to the matter said.

A banking source said PPR was near closing the acquisition which would value the jeweller at around 350 million euros ($455 million)

** India's Bharti Airtel Ltd is looking to sell up to a quarter of its satellite TV services arm and is in talks with several potential suitors, two sources with direct knowledge of the situation said.

** Adidas AG has dropped the plan to sell its hockey business as potential buyers did not make offers interesting enough for the German sports apparel company, Chief Executive Herbert Hainer said on Thursday.

** U.S. private equity firms Blackstone Group LP and TPG Capital have placed separate final bids for Australia's largest poultry producer, Inghams Chicken, sources with direct knowledge of the matter told Reuters on Thursday.

The bids could value privately-owned Inghams at about A$800 million ($821 million), a separate source said.

** Ports operator DP World Ltd is selling its stakes in two container terminals and a logistics center in Hong Kong for $742 million as part of a rejig of assets in favor of fast-growing emerging markets.

** London Stock Exchange Group has submitted a revised 328 million euro ($426.4 million) cash offer to buy a majority stake in LCH Clearnet, in a deal aimed at giving the exchange a gateway into the lucrative debt and currency clearing business.

** British engineer IMI Plc said it planned to sell most of its merchandising business, which makes marketing displays. The business contributed about 8 percent of revenue in 2012.

** China National Petroleum Corp (CNPC) has been approached by investment banks and asked to consider buying part of Italian oil company Eni SpA's stake in a giant natural gas field in Mozambique, a person with knowledge of the matter.

** Time Warner Inc will soon be without the magazine unit that provided the foundation for the company and the first part of its name. Time Inc, the division that publishes titles like Time, Fortune and People, will be spun off into a separate company, Time Warner said late Wednesday, ending weeks of merger negotiations with Meredith Corp.