April 29 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Monday:
** Kinross Gold Corp estimated the cost of a
scaled-back expansion of its struggling Tasiast mine in West
Africa at $2.7 billion, more than some analysts had expected,
sending its shares 3 percent lower.
** Germany's Bayer AG has agreed to buy U.S.
contraceptive devices maker Conceptus for $1.1 billion,
aiming to underpin its position as the world's largest women's
** Four groups have submitted non-binding bids to buy 51
percent of Greece's second-largest water utility as part of the
country's plans to sell off state assets and cut debt, the
privatisation agency said on Monday.
** French private equity firm PAI Partners will buy R&R Ice
Cream from rival Oaktree Capital in a deal financed by a form of
debt popular during the credit boom - but controversial because
it is relatively high risk - which is now making a comeback in
A source with knowledge of the matter said Paris-based PAI
will pay about 850 million euros ($1.1 billion) to buy the UK
maker of Fab lollies and Skinny Cow ice cream, under an
agreement which was announced earlier on Monday.
** Belgium-based insurer Ageas plans to pay out an
extraordinary dividend after Royal Park Investments, the bad
bank created during the financial crisis, sold off its portfolio
and following the sale of a call option. Ageas, which shares
ownership of the bad bank with the Belgian state, will receive
1.04 billion euros ($1.35 billion) from the sale, it said in a
** Japan's Sumitomo Mitsui Banking Corp is in advanced talks
to buy a $1.3 billion stake in BTPN, an Indonesian lender backed
by TPG Capital, people familiar with the matter told Reuters,
lifting BTPN's shares.
** Chinese e-commerce firm Alibaba Group acquired
an 18 percent stake in web portal Sina Corp's
microblogging service Weibo in its first big move into selling
advertising on China's highly competitive social
** State-backed British bank Lloyds is to sell its
Spanish retail banking business to Banco Sabadell in
exchange for an about 1.8 percent stake in the Spanish lender
and will take a 250 million pound loss on the disposal.
Lloyds will receive the stake, worth 84 million euros
($109.43 million), in Spain's fifth largest bank in exchange for
Lloyds' private and retail banking business in Spain.
** New Zealand's Telecom Ltd said on Monday it
would acquire privately owned local IT infrastructure and data
centre company Revera Limited for NZ$96.5 million ($81.8
** Pest control to hygiene group Rentokil Initial
said it had sold its loss-making parcels arm City Link to
private equity firm Better Capital for one pound ($1.55),
exiting a business that has dragged on group performance for
** Dubai retail firm Majid Al Futtaim (MAF) is in advanced
discussions to buy Egypt's largest supermarket chain from
family-owned Mansour Group, two sources said on Monday.
** A U.S. unit of Mitsubishi UFJ Financial Group Inc
is in talks to acquire the rights to sell trust-banking
services to Morgan Stanley's clients, in the bank's
latest bid to expand its business abroad, a source familiar with
the matter said on Sunday.
** A proposed merger of Valeant Pharmaceuticals
International Inc and Actavis Inc was put on
hold after the drugmakers failed to agree on terms of a deal
that would have created a healthcare giant with a combined
market value of $35 billion, a person familiar with the
situation told Reuters on Saturday.
** Shares of Aussino Group Ltd plunged by more
than half after the Singapore Exchange rejected its application
for a S$70 million ($57 million) reverse takeover deal with a
company linked to a Myanmar tycoon who is on the U.S. sanction
** Aquila Resources on Monday suffered a set back
to its plans to raise capital via asset sales to help fund a
A$7.4 billion ($7.6 billion) Australian iron ore project after
Sumitomo Corp pulled out of a coal exploration
** Sprint Nextel Corp on Monday said its merger
partner SoftBank Corp has waived some terms of their
agreement so that Sprint can seek more information from
potential suitor Dish Network Corp.
** HSBC Holdings is selling its half stake in the
South Korean insurance firm Hana HSBC Life Insurance Co to its
partner in the venture, the 52nd deal it has struck as part of a
global retreat from peripheral businesses in the past two years.
** Telefonica Deutschland said it was open to ways
it can join up with KPN's German business in an effort
to cut costs and improve pricing power for the two highly
indebted telecoms operators.
** Six major Vodafone investors said $100 billion
was not enough for the British company's stake in its U.S. joint
venture with Verizon Communications, and urged the latter
to come up with an offer of at least $120 billion.