Jan 3 The following bids, mergers, acquisitions
and disposals were reported by 1100 GMT on Friday:
** New Zealand insurance company Tower Ltd said it
would keep its domestic life insurance business following the
sale of most of its life insurance businesses last year. Tower
in May last year sold most of its life insurance business to
Fidelity Life Assurance Co Ltd in a deal worth around NZ$189
million ($155 million).
** Polish mining machines maker Kopex SA's majority
shareholder Krzysztof Jedrzejewski rejected local rival Famur's
tie-up offer, the Polish businessman said. Earlier on
Friday, Famur said it wanted to merge with Kopex to forge a
global player worth over 3.3 billion zlotys ($1.1 billion).
** British department stores group House of Fraser
(IPO-HFD.L) expects to be listed by the end of the year even as
it remains in exclusive talks regarding a potential takeover by
its French counterpart Galeries Lafayette, the Times
of London quoted the chief executive of the department store
chain as saying.
** Ergon Inc said on Thursday it purchased Bunge North
America Inc's stake in the Ergon Biofuels plant is Mississippi.
Privately held Ergon Inc purchased Bunge's share of what had
been a 2007 joint venture of a 54-million-gallon per year
ethanol plant in Vicksburg, the only facility that produced
corn-based ethanol in Mississippi. The financial terms of the
deal were not disclosed.
** Shares in Telecom Italia rose close to a
two-month high, boosted by the prospect of a sale of its
Brazilian wireless unit after a report that Spain's Telefonica
is readying a joint offer for TIM Brasil.
Telefonica faces antitrust problems in Brazil, where it partly
owns TIM via its 15 percent stake in Telecom Italia, after it
agreed to a gradual takeover of the Italian telecoms group.
($1 = 1.22 New Zealand dollars)
($1 = 3.05 Polish zlotys)
(Compiled by Natalie Grover)