Oct 16 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Tuesday:
** General Motors Co bought back most of the
50-percent stake in its Indian operations that it had sold to
Chinese partner SAIC Motor Corp, regaining control
of the joint venture, the automaker said on Tuesday.
** Nigeria announced the preferred bidders on Tuesday for 10
state power distribution firms it is selling for 197.25 billion
naira ($1.25 billion) as part of a plan to reform the country's
moribund electricity sector.
** Nigeria's Diamond Bank is in talks to buy a
niche European bank to tap into direct investment and trade
flows from Europe into Africa's second biggest economy, its
chief executive said on Tuesday. He didn't disclose the name of
** Russia's railway monopoly Russian Railways will sell its
remaining 25-percent stake in rail cargo operator Freight One to
steel magnate Vladimir Lisin who already owns 75 percent in the
firm, two sources close to the talks said on Tuesday.
** British life insurer Resolution on Tuesday said
it was in talks to sell its stake in a Malaysian joint venture
as part of an overhaul aimed at cutting costs and boosting
returns to shareholders.
** Murphy Oil Corp will spin off its sales and
marketing businesses in the United States and divest those
downstream operations in Britain while reviewing options for
other assets, the company said.
** William Hill Plc, Britain's largest bookmaker,
said a proposed offer for Sportingbet Plc had been
sweetened, and the online gaming group would agree to a 530
million pounds ($851 million) takeover.
** Italian construction firm Impregilo said on
Tuesday its board approved an offer from Brazilian builder
Primav Costrucoes for a 19 pct stake in EcoRodovias
worth about 2 billion reais, or about 765 million euros.
** Britain's Pearson has bought U.S. educational
services company Embanet Compass for $650 million in cash to
bolster its position in the fast-growing online learning market.
** Hillenbrand Inc said it would buy privately held
Coperion Capital GmbH for about 408 million euros ($527.8
million) to boost its process equipment business.
** Austrian energy group OMV AG has acquired a 20
percent stake in Norway's Edvard Grieg field from RWE Dea
for 247.9 million euros ($320.7 million), OMV said on
Tuesday, cementing Norway as a core country in its exploration
and production portfolio.
** French aerospace firm Safran said it had agreed
to buy the electrical power systems activities of Goodrich,
owned by United Technologies, for around 310 million
euros ($401 million) in cash.
** France Telecom will pay Egyptian partner Orascom
Telecom Media and Technology (OTMT) 110 million euros
($142.30 million) for taking over a management services contract
for their mobile phone venture Mobinil.
** Japanese electronics firm Kyocera Corp will buy
security software developer Motex Inc for about 10 billion yen
($126.7 million) to tap into the growing demand for secure
smartphone data, the Nikkei reported.
** BAE Systems said it will sell its Commercial
Armored Vehicles LLC business in West Chester, Ohio to The
O'Gara Group, Inc for a cash consideration of $10 million.
** Norway's Oslo stock exchange is to take over small
Swedish stock market operator Burgundy in a deal that will
challenge main Swedish operator Nasdaq OMX Group Inc.
** Marathon Oil Corp is selling a large portion of
its undeveloped oil and gas acreage in the Eagle Ford basin in
south Texas as the U.S. oil and gas company sheds properties it
no longer considers essential to its exploration plans.
** Private equity firm Mid Europa Partners said it would buy
Eastern European laboratory diagnostics company Alpha Medical
from Czech private equity group Penta Investments.
** Poland's top utility PGE said it bought a
60-megawatt windfarm from Spain's Gamesa as part of its
drive to diversify beyond coal.
** Natixis Global Asset Management said on Tuesday it agreed
to acquire McDonnell Investment Management, a bond-focused firm
based in a Chicago suburb. Terms of the deal were not disclosed.