Deals of the day- Mergers and acquisitions
Sept 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:
** China, the world's largest consumer of potash, has acquired a 12.5 percent stake in Russia's Uralkali, the leading producer of the soil nutrient said on Tuesday. Chinese sovereign wealth fund China Investment Corp (CIC) received the stake in Uralkali in a bond exchange deal with Wadge Holdings Ltd.
** Korea National Oil Corporation (KNOC) said it is considering selling 'non-core parts' of its loss-making Canadian energy subsidiary Harvest Operations and reviewing other overseas assets for potential sale of some of their parts.
** Spanish telecom group Telefonica is raising its stake in Telecom Italia. The deal values the Telecom Italia shares indirectly owned by investors Mediobanca , Generali and Intesa Sanpaolo at 1.09 euros apiece, nearly twice current market prices. Telefonica will raise its stake in Telco, the holding company that controls Telecom Italia, to an initial 66 percent from 46 percent via a 324 million euros ($437 million) capital hike aimed at paying back outstanding debt.
** KKR & Co LP is leading a joint venture with China Modern Dairy Holdings Ltd and a Chinese private equity firm that will invest $140 million in two large dairy farms to help meet rising domestic demand for premium milk products. Modern Dairy, China Mengniu Dairy Co Ltd and Inner Mongolia Yili Industrial Group Co Ltd are among the Chinese companies expected to eventually hold a dominant share of the milk industry. KKR will hold 61.5 percent of the venture, while CDH will own 20.5 percent and Modern Dairy 18 percent, the companies said in a statement.
** Seven Convenience Bhd, a 7-Eleven convenience store chain operator in Malaysia, is offering up to 530.33 million shares in an initial pubic offering that could be worth about 700 million ringgit ($218.8 million), a draft prospectus showed on Tuesday.
** French drugmaker Servier has offered to buy the shares in Hungarian pharmaceuticals maker Egis it does not already own in a deal worth 107 billion forints ($482.8 million). Egis said that a Servier's Arts et Techniques du Progres unit currently holds 51 percent of Egis shares. Servier is offering 28,000 forints ($130) per share, a 33 percent premium to Egis's closing share price on Monday.
** The main owners of indebted Russian drugstore company Pharmacy Chain 36.6 plan to sell down their stakes, business daily Kommersant reported on Tuesday. Artyom Bektemirov and Sergei Krivosheev will sell a stake of around 30 percent in the chain to banker Roman Avdeev. Bektemirov and Krivosheev will retain between 5 and 10 percent of the pharmacy chain's shares in total, while Avdeev will become its biggest shareholder.
** Belgian financial services group KBC has agreed the sale of German unit KBC Deutschland, one of the final divestments needed to satisfy EU regulators after it received state aid during the financial crisis. KBC said it had agreed to sell the business to several investors including affiliates of Teacher Retirement System of Texas, Apollo Global Management, LLC, Apollo Commercial Real Estate Finance Inc. and Grovepoint Capital LLP.
** India's Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, chairman Vijay Mallya said, without naming any investor.
** German real estate company Patrizia Immobilien said late on Monday it agreed to buy 36 office buildings valued at about 800 million euros ($1.1 billion) on behalf of a consortium of investors. Patrizia will pass the 450,000 square meters of office space it will acquire from Austrian real estate group CA Immo along to a real estate fund held by a consortium of institutional investors based in German-speaking countries.
** Chrysler Group LLC filed paperwork on Monday for an initial public offering, a move that could delay Fiat SpA's efforts to take full ownership of the U.S. automaker while enhancing the value of the stake held by a union trust fund. The IPO of up to $100 million comes over the strenuous objections of Chief Executive Sergio Marchionne, who wants to merge Fiat and Chrysler and make the world's seventh-largest automaker, Chrysler said in a securities filing.
** Entergy Corp resubmitted a plan to Texas regulators on Monday, proposing to transfer its electric transmission assets to ITC Holdings. Last month, the $1.78 billion proposal faced certain rejection by the Texas Public Utility Commission (PUC) and was withdrawn by Entergy Texas and ITC officials. The transaction is a spin-off and merger of Entergy's 15,400-mile transmission network serving parts of Arkansas, Louisiana, Mississippi and Texas.
** Greenway Medical Technologies Inc has agreed to be taken private by Vista Equity Partners for $644 million, less than two years after the medical software provider debuted on the U.S. stock market.
** Sequenom Inc, a maker of diagnostic tests, said it is exploring a full range of strategic options for its genetic analysis business. The genetic analysis segment, which conducts research into genetic structures to explore better ways of treating diseases, is one of the two business segments of Sequenom. ($1 = 0.7412 euros) ($1 = 221.6083 Hungarian forints) ($1 = 3.1990 Malaysian ringgits) (Compiled by Aby Jose Koilparambil)
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