Sept 17 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Tuesday:
** Britain has sold a 6 percent stake in part-nationalized
Lloyds Banking Group, raising 3.2 billion pounds ($5.1
billion), the body that manages its shares in UK banks said. The
placing price was 75 pence per share, representing a 3 percent
discount to Lloyds' closing price on Monday.
** Wing Hang Bank Ltd's controlling shareholders
have received preliminary offers from independent third parties
to purchase their shares in the bank, which has a market value
of $3.3 billion, the Hong Kong-based lender said.
** German car parts maker Schaeffler Group has sold a 3.9
percent stake in automotive supplier Continental AG
for about 950 million euros ($1.3 billion) to pay down debt.
Schaeffler, which makes ball bearings and clutches, placed 7.8
million shares with international investors at 122.50 euros
apiece, which represents a 3.5 percent discount to Monday's
** Bankers are putting together up to 600 million euros
($801.15 million) of debt financing to back a sale of French
construction company Materis' industrial mortars unit Parax,
according to banking sources.
** Huntsman Corp is buying Rockwood Holdings Inc's
titanium dioxide pigments business for $1.1 billion
cash, a deal that could mark the start of a long-expected
shake-up in the volatile industry.
** Total and its joint venture partner have agreed
to buy Chevron Corp's retail distribution business in
Pakistan, following a similar move by the French energy giant to
buy the U.S. firm's Egyptian retail business in August.
** Core Italian shareholders in Telecom Italia
this month rejected an 800 million euro ($1 billion) offer from
Spain's Telefonica to buy part of their stakes, Italian
business newspaper Il Sole 24 Ore said. Telefonica is the
biggest shareholder in Telco, the holding that controls Telecom
Italia with a 22.4 percent stake.
** Oman Telecommunications Co (Omantel) said the
government would sell a 19 percent stake in the company through
a public subscription that would be open to individual and
institutional investors. The government holds a 70 percent stake
in Omantel, so the sale would leave the state with a majority 51
** Three bidders - French train operator SNCF,
Romania's Grampet Group and Greek building group GEK Terna
in cooperation with Russian Railways RZD
-are interested in buying a 100 percent stake in Greece's
railway network operator Trainose, a source close to the talks
said on Monday on condition of anonymity. The sale is expected
to raise 200 million euros ($267.05 million).
** Spanish lender Kutxabank said it had sold 5 percent of
its stake in Spanish hotel chain NH Hoteles for 3.85
euros ($5.14) per share in a deal worth 60 million euros ($80
** South Korean telecoms operator KT Corp said
it is in the early stage of talks to buy a 35 percent stake in
state-owned Tunisie Telecom from a conglomerate owned by Dubai's
ruler, joining about 10 other bidders.
KT's bid comes after the firm had withdrawn from the bidding
for Vivendi's 53 percent stake in Maroc Telecom
earlier this year.
** South Korea's Doosan Heavy Industries Co Ltd
said it was still in talks with Italian firm Finmeccanica
to buy its engineering business Ansaldo Energia.
** South Korea's Kookmin Bank is set to gain
majority control over Kazakhstan's fourth-largest lender Bank
CenterCredit next year as it plans to acquire a stake
in the bank held by the International Finance Corp, CenterCredit
** Luxembourg is in talks with Chinese investors over the
sale of its 35 percent stake in freight-only airline Cargolux
. The government said that representatives of Henan
province and investment vehicle Henan Civil Aviation Development
and Investment Company had visited Luxembourg airport and the
Cargolux headquarters on Monday.
** India's GMR Infrastructure Ltd said it had sold
its majority stake in a highway construction unit to the India
Infrastructure Fund of IDFC Ltd for about 2.22 billion
rupees ($35.33 million), which will help the company reduce its
** Bahrain-based fund Investcorp is one of several investors
who have expressed a preliminary interest in buying a stake in
Versace, one of Italy's best-known luxury brands. According to
sources, the list of those interested includes Italy's strategic
fund FSI, AXA Private Equity, UK-based private equity fund
Permira and Italy's Clessidra. Versace is expected to sell a
15-20 percent stake.
** Online fashion retailer Dafiti said it would receive $70
million from Canada's Ontario Teachers Pension Plan, in a
cash-for-equity transaction that shows resilient investor
interest in e-commerce in Brazil.
** IAG, parent of British Airways and Spain's
Iberia, will not take part in any European airline consolidation
and sees more interesting opportunities elsewhere, its chief
executive said. "We don't see anything attractive to buy or
merge with in Europe at the moment," Willie Walsh, IAG's CEO,
told the World Low Cost Airlines Congress in London.
** Steelmaker ArcelorMittal will sell a 21 percent
stake in its Algerian unit at a nominal price to the Algerian
state, allowing the country to become a majority shareholder,
the state news agency quoted the prime minister as saying on
** Varde Management and Deutsche Bank intend to
sell a 13.5 percent stake in British housebuilder Crest
Nicholson via an accelerated bookbuilding, they said on
** Polymer Group (PGI), a producer of engineered materials
owned by private equity group Blackstone, said it had
agreed to buy rival Fiberweb for 183 million pounds
($291 million) after it upped its initial offer.
** Italian merchant bank Mediobanca said its
controlling shareholders decided to allow the sale of
Fondiaria's 3.8 percent stake in the bank.
** Supermarket operator Safeway Inc adopted a
one-year "poison pill" designed to ward off an unwanted takeover
after becoming aware of an investor buying "a significant
amount" of its stock.