Oct 23 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Tuesday:
** Target Corp said on Tuesday it had struck a deal
to sell its credit card portfolio to TD Bank Group,
finding a buyer nearly two years after the retailer first said
it wanted to sell the business.
TD Bank will pay an amount equal to the gross value of the
outstanding receivables when the deal closes. Right now, the
gross value is about $5.9 billion.
** Royal Bank of Canada has agreed to buy
the Canadian auto finance and deposit arm of Ally Financial Inc
in a $4.1 billion deal to expand its vehicle-lending business at
a time when loan growth overall is slowing in the country.
** The German government is pressing ahead with its plan to
buy a stake in Airbus parent EADS from Daimler
, after this month's collapse of a merger plan with
BAE, and has asked parliament to free up funds for the
** U.S. private equity investor FLAG Capital Management said
it has agreed to buy Squadron Capital Advisors, an Asian private
investment firm with $1.5 billion in assets controlled by the
founder of Duty Free Shopping outlets Robert W. Miller.
** British credit information firm Experian has
agreed to buy a further stake in its Brazilian affiliate Serasa
from a group of banks for $1.5 billion in cash to take its
holding to 99.6 percent, it said on Tuesday.
** Yildirim Group is looking to buy six companies involved
in energy, metals and ports in deals worth $1 billion as it
targets global expansion, owner Robert Yildirim said on Tuesday.
** Chinese private equity firm Cathay Fortune Corp has made
a hostile A$824 million ($850.49 million) takeover bid for
Australia's Discovery Metals Ltd after the copper
explorer's board rebuffed a similar offer earlier this month.
** A consortium that includes South Korea's POSCO
plans to soon have discussions with Arrium
to buy the Australian company and expects to see "good results",
an executive at POSCO said on Tuesday.
POSCO is part of a consortium that recently offered to buy
Arrium, an Australian miner and steelmaker, for some $1
billion, but the bid was rejected by Arrium.
** Defence equipment maker Chemring Group Plc said
Chief Executive David Price will step down immediately, raising
doubts about the proposed takeover of the company by U.S.
private equity firm Carlyle Group.
** Ireland's C&C is to buy U.S. cider firm Vermont
Hard Cider for $305 million to tap into a fast-growing market
and offset weakness in its core UK business, where sales of its
flagship Magners brand slumped during a wet summer.
** Canada's Tourmaline Oil Corp said it will buy
privately held oil and gas producer Huron Energy Corp in an
all-share deal valued at about C$258 million ($259.7 million) to
expand its presence in the Montney shale region in British
** South African construction firm Basil Read said
on Tuesday it would sell its engineering unit to Australia's
WorleyParsons Ltd for $105 million to help it pay down
debt and expand its core business.
** Bank holding company F.N.B. Corp agreed to buy
Annapolis Bancorp Inc, the parent of BankAnnapolis, in
an all-stock deal valued at $49 million to tap the Maryland
** Veolia Environnement and its partner Caisse des
Depots et Consignations said on Tuesday the French state-owned
bank would take control of their transport joint venture
Transdev by raising its stake to 60 percent.
** PepsiCo said Japanese beverage company Suntory
Holdings Ltd will acquire a 51 percent equity stake in the
company's beverage business in Vietnam.
** Textron Inc is still considering a possible
acquisition of aircraft maker Hawker Beechcraft after
the collapse of Hawker's talks with a Chinese firm, Textron's
chief executive said on Monday, while saying the price tag on
the Chinese deal was too expensive.
** Cerberus Capital Management is working on a takeover bid
for troubled supermarket operator Supervalu Inc and has
held talks with lenders to line up financing, according to three
sources familiar with the matter.
** Czech power group CEZ plans to spin off its
coal-fired Detmarovice power plant into a separate unit as it
prepares for its potential sale as part of a settlement with the
European Union, CEZ said on Tuesday.
** French oil major Total is not among potential
bidders for Repsol's liquefied natural gas (LNG)
assets, a senior Total executive said on Tuesday.
** Private equity firm CVC Partners has hired CIMB,
Morgan Stanley and UBS to sell a stake in
Indonesian group PT Matahari Department Store, sources
** Brazilian billionaire Eike Batista raised his stake in
iron ore producer MMX Mineração e Metálicos SA to
46.41 percent in an effort to bolster confidence in the stock as
raw materials prices fall, the company said on Monday.
** Heelys Inc, the maker of children's sneakers
with wheels in them, is selling itself to a private equity firm,
Evergreen Group Ventures, after suffering years of fading sales
and a sliding share price.
** German real estate group TAG Immobilien and
private equity investor Lone Star are likely to buy a portfolio
of properties that the German government is selling, two people
familiar with the matter said.
** The Glazer family remains committed to Manchester United
which is not for sale following its U.S. stock market
listing, the English Premier League soccer club's vice chairman
** U.S. agriculture giant Archer Daniels Midland
said on Tuesday that it reached a preliminary deal to sell its
stake in Mexican corn flour processor Gruma to the
chairman of Mexican airport operator Asur.