Deals of the day -- mergers and acquisitions

Tue Jul 23, 2013 4:02pm EDT

(Adds Wendy's, Starbucks, AVIC, AHT Cooling; updates Cisco)

July 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** German mobile phone operator E-Plus expects regulators to demand remedies to approve its sale to Telefonica Deutschland for about 8.1 billion euros ($10.7 billion), its chief executive told Reuters.

** Vivendi SA's long-flagged deal to sell its controlling stake in Maroc Telecom to Abu Dhabi-based Etisalat is just the first step in the French conglomerate's bet that it can remake itself as a media-focused company. Vivendi said it had entered into exclusive talks to sell its majority stake in Maroc Telecom to Etisalat for 4.2 billion euros ($5.54 billion) in cash.

** Bank holding company PacWest Bancorp said it would buy commercial bank CapitalSource Inc for about $2.29 billion in cash and stock to expand its presence in southern California.

** Cisco Systems Inc said it plans to purchase cybersecurity company Sourcefire Inc for $2.7 billion, a deal that should spark more acquisitions in the industry as large vendors seek to profit from growing demand for IT security.

** Diageo Plc, the world's biggest spirits group, has taken a controlling stake in China's white spirits company Shuijingfang, investing further in a key market that has shown signs of slowing. The British group said it had acquired a holding company, which would increase its ownership of the Shanghai-listed firm from 21 percent to 39.7 percent in a deal worth 233 million pounds ($358 million).

** Activist hedge fund Third Point LLC reached an agreement to sell two-thirds of its stake in Yahoo Inc back to the company, pocketing a tidy profit and relinquishing three seats on the board of a company trying to effect a tricky turnaround.

** Burger chain Wendy's Co said it would sell 425 company-operated restaurants to franchisees. By the end of 2014, Wendy's will own 15 percent of its restaurants, down from 22 percent prior to the sales.

** Starbucks Corp and Danone SA said they will sell a co-branded yogurt through Starbucks cafes and in grocery stores as yogurt makers and food companies battle for market share in the $7 billion U.S. market. Financial terms were not disclosed.

** Private Greek business group Copelouzos has offered to team up with Russian Railways to make a bid for Greece's railway monopoly Trainose in a planned privatization tender, according to a report by Russian news agency Prime.

** Chinese state-controlled firm AVIC is to buy the commercial business of German aircraft engine maker Thielert , banking on a surge in demand for diesel plane engines in China and other emerging markets.

AVIC and Thielert, which filed for insolvency more than five years ago, did not provide financial details of the deal.

** Swiss machinery manufacturer Sulzer AG said that it was planning to sell its Sulzer Metco division, mainly active in the automotive and aviation industries, to concentrate on oil and gas, power and water markets, areas where the firm sees more promising growth.

** Ryanair Holdings Plc said it was prepared to sell its stake in rival Aer Lingus Group Plc to appease a UK anti-competition probe, a move analysts said was an apparent gambit to avoid a forced sell-down. Europe's biggest budget airline said in a statement it would unconditionally sell its 29 percent shareholding to an EU airline that makes an offer to buy out Aer Lingus.

** The sale of Austrian refrigeration manufacturer AHT Cooling, owned by Quadriga Capital, has attracted interest from a clutch of bidders, with private equity firms Bridgepoint and EQT having made it through to the second round, banking sources said.

** A longtime ally of Igor Sechin, Rosneft's chief executive, may leave the state-controlled company to buy possible oil exploration, production or refining assets by himself, Kommersant daily reported, citing sources.

** Spanish builder Dragados said that it has launched a bid for the remaining 34 percent stake in its Polish subsidiary Pol-Aqua.

** Sweden said that a thorough analysis was needed to decide whether to bring in external ownership to troubled power group Vattenfall's new central European division.

** DuPont is exploring the sale of its once-lucrative performance chemicals unit, turning its back on the unpredictable paint business to focus on its thriving food and agriculture products.

** The chairman of the world's second-largest mobile operator Vodafone said the group would seriously consider any offer for its stake in its U.S. joint venture Verizon Wireless but that there was nothing new to announce. (Compiled by Varun Aggarwal and Garima Goel)

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

California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

How to get out of debt

Financial adviser Eric Brotman offers strategies for cutting debt from student loans and elder care -- and how to avoid money woes in the first place.  Video