Deals of the day -- mergers and acquisitions

Wed Mar 27, 2013 4:06pm EDT

March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Octo Telematics, an Italy-based company that makes vehicle recording devices for the auto insurance market, is looking for a buyer and will send information to potential bidders in the second part of April, a person close to the matter said.

** The Finnish state should reduce its controlling stake in Finnair, its new board chairman said, which would allow the airline to seek more alliances, mergers and acquisitions.

** Nigeria has offered to sell a major power station to the Chinese engineering firm that has upgraded the plant, the privatization agency said, as it aims to end power shortages that are the biggest brake on economic growth. State-owned China Machinery Engineering Corporation (CMEC) completed the second phase of the Omotosho power plant in southwest Nigeria last month, taking total output from 375 megawatts (MW) to 500 MW.

** Swiss stock exchange operator SIX Group would consider bidding for its larger European competitor Euronext if the exchange were to come up for sale, SIX's chief executive said on Wednesday.

** Nordic telecom operator Tele2 said it would sell its Russian operations to VTB Group in a $3.5 billion deal and would return much of the money to its shareholders.

** Brazilian entrepreneur Carlos Alberto Oliveira Andrade failed to rally support from some creditors of Banco BVA to take over the bankrupt small-sized lender, just hours ahead of a central bank deadline on Wednesday to avert its liquidation.

** Russian steelmaker Evraz said it agreed to sell its 85 percent stake in Evraz Highveld, its steel and vanadium asset in South Africa for $320 million.

** International Airlines Group raised its takeover offer for Spanish budget airline Vueling by almost one third after the Barcelona-based carrier rejected a previous bid. IAG, which owns British Airways and Spanish flag carrier Iberia and already holds a 45.85 percent stake in Vueling, upped the offer to 9.25 euros ($11.89) per share from 7 euros previously.

** Bulgaria pushed back the deadline for the sale of the cargo unit of state railway operator BDZ for a second time this month amid mounting public pressure to halt the deal until after May's government election.

** Private equity firm Nordic Capital has agreed to sell electric wheelchair maker Permobil to Swedish investment firm Investor AB in a deal worth 655 million euros ($842.3 million).

** Turkey's GSD Holding company, which has interests ranging from financial services to shipping, said on Wednesday it was looking into the possible sale of its Tekstilbank banking unit.

** Carol's Daughter, known for its products for naturally curly hair, is exploring a sale of the company, according to two sources familiar with the matter. The tiny company, with big backers including Jay-Z and Will Smith, is owned by private equity firm Pegasus Capital Advisors.

** Canadian oil and natural gas producer Niko Resources Ltd said it was in advanced talks to sell some non-core assets for $157 million, nearly three weeks after receiving "significant" offers for them.

** German luxury carmaker Daimler aims to sell the remaining 7.5 percent stake it holds in European aerospace group EADS in the second half of this year, a source familiar with the matter told Reuters on Wednesday.

** Russian state-controlled telecoms operator Rostelecom said it would buy out shareholders who vote against its merger with Svyazinvest at a premium to the market price. The company will buy ordinary shares at 136.05 roubles ($4.40) and preferred shares at 95.24 roubles, a spokeswoman said, compared to Tuesday's closing prices of 120.99 roubles and 89.33 roubles respectively.

** British construction company Kier Group Plc said it was considering making an offer for infrastructure maintenance provider May Gurney, setting the stage for a possible bidding war with smaller peer Costain Group Plc .

** Diversified real estate investment trust American Realty Capital Properties Inc raised its bid for Cole Credit Property Trust III to $6.7 billion, a week after its original offer was rejected.

** BASF, the world's largest chemicals company by sales, said it would combine its water solutions, oilfield and mining solutions businesses to cut costs.

** Credit Suisse is buying Morgan Stanley's wealth management arm in Europe, the Middle East and Africa, acquiring $13 billion in assets in a move to offset exposure to more volatile investment banking.

** U.S. insurer Protective Life Insurance is the leading candidate to buy some of AXA SA's U.S. life insurance assets in a deal that could be valued at around $1 billion, according to two people familiar with the situation.

** Bertelsmann and Pearson are set to win unconditional EU regulatory approval for a plan to merge their publishers Random House and Penguin, two people familiar with the matter said on Wednesday.

** Europe's biggest insurer Allianz has secured the top spot in Turkey's fast-growing insurance market by agreeing to buy Yapi Kredi Sigorta (YKS) for about 1.6 billion Turkish lira ($883 million).

** Petrobras has launched the auction of its Nigerian oil fields, in a sale that may fetch up to $5 billion, as Brazil's state oil company seeks to raise cash and embarks on a capital spending plan, people close to the matter told Reuters.

** Australia's competition regulator granted conditional final approval to a five-year alliance between struggling national flag carrier Qantas Airways Ltd and Emirates Airline, just days before the first Qantas flight is due to transit through Dubai.

** French conglomerate Lagardere will sell its entire 7.5 percent stake in European aerospace group EADS before summer, daily newspaper Les Echos reported, citing Lagardere's chief executive.

** British construction company Costain Plc will acquire infrastructure and maintenance company May Gurney Integrated Services Plc for about 177 million pounds ($268.23 million) in an all-share deal, the companies said in a statement on Tuesday.

** CBS Corp and Lionsgate have formed a joint venture to operate the entertainment cable network TVGN and the website TVGuide.com, the companies announced on Tuesday.

** The sale of French department store Printemps to Qatari investors could be a done deal by as early as this summer as the timetable for presenting the deal to its staff is now set, people close to the proposed deal said on Tuesday.

** John Legere, the chief executive T-Mobile USA, said he expects shareholders to approve the company's plan to merge with MetroPCS Communications Inc. But if the deal falls through, the executive said, he would be prepared.

** Units of Royal Dutch Shell Plc, Repsol SA and OGX Petroleo e Gas SA were given approval by Brazil to bid in an auction of oil rights in May, the country's first since 2008, Brazil's oil regulator said on Tuesday.

** Huntingdon Capital Corp said it increased its offer for all of KEYreit's units to match Plazacorp Retail Properties' C$119 million ($117 million) bid for the company.

** Ericsson is in talks to buy Microsoft Corp's IPTV business, which makes software used by phone companies such as AT&T to deliver television over the Internet, Bloomberg reported, quoting people with knowledge of the matter.

** Europe's biggest insurer Allianz has secured the top spot in Turkey's fast-growing insurance market by agreeing to buy Yapi Kredi Sigorta for about 1.6 billion Turkish lira ($883 million).

** Japan's top retailer Aeon Co Ltd said it will buy an additional 24 percent stake in domestic rival Daiei Inc from Marubeni Corp, finalising an expected takeover deal.

** Belgium is considering selling off stakes in BNP Paribas or Belgacom as it looks for ways to rein in its budget deficit, the country's two leading business dailies reported.

** Spain plans to sell 1.15 percent of EADS as the aerospace company switches to a new corporate structure, EADS said.

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

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