Jan 7 The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Tuesday:
** Under terms of the accord announced in filings late on
Monday, Australian office property developer Commonwealth
Property Office Fund CPA's preferred bidder, a
consortium led by Dexus Property Group, will sell five
office buildings in Sydney and Melbourne with a combined value
of about A$1.2 billion ($1.08 billion) to its rival property
firm, The GPT Group.
** A.P. Moller-Maersk has agreed to sell
substantial stakes in Denmark's largest retailer and a
department store chain, as the shipping and oil conglomerate
slims down to boost performance.
** Royal Bank of Scotland said it is selling its 94
Chicago-area retail branches and small business operations in
the area to U.S. Bancorp.
** Microsoft Corp said it would buy cloud-based
software maker Parature Inc, which helps businesses manage help
desks and provide other customer support services.
** Customer management services provider Convergys Corp
on Monday said it would buy rival Stream Global Services
Inc for $820 million in cash to expand its client base and
** Oil and gas company SandRidge Energy Inc struck a
deal Tuesday to sell its Gulf of Mexico assets to
private-equity-backed Fieldwood Energy for $750 million, ending
a brief, much-criticized foray into offshore drilling.
** Swedish engineering group Sandvik said on
Tuesday it had agreed to buy U.S.-based Varel International
Energy Services Inc. in a deal worth about $740 million.
** Murray Goulburn Co-operative Co Ltd said on Tuesday it
expects a regulatory decision on its offer for Australia's
Warrnambool Cheese and Butter Factory Holdings Co by
the end of February, a shorter time-frame than initially
anticipated. Murray Goulburn is anxiously awaiting approval for
its A$530 million ($474.96 million) bid as it faces strong
competition from Canada's Saputo Inc, which has the
only unconditional offer on the table.
** Dutch pension fund ABP said it has sold its stake in
Tokyo Electric Power Co after the operator of the
wrecked Fukushima nuclear plant failed to respond to repeated
requests to discuss public safety and environmental concerns.
** Prague has completed a deal to buy German utility E.ON's
majority stake in Czech gas company Prazska
Plynarenska for 6.25 billion crowns ($310.20 million), the city
said on Tuesday.
** Europe's biggest dairy group Lactalis has agreed to
acquire a controlling stake in India's Tirumala Milk Products
for between $250 million and $300 million, two sources with
direct knowledge of the matter said on Tuesday.
** Goldman Sachs and private equity firm KKR
will sell a 10.8 percent stake in German forklift maker Kion
Group AG starting immediately, Goldman said in a
statement on Tuesday.
** Private equity group Arle Capital Partners is planning to
either sell or float British oil services company Expro as soon
as this year, Sky News reported, citing insiders.
** Bank of America-Merrill Lynch shut its European power and
gas sales and trading operation on Tuesday, the fourth major
player to close parts of its commodities business as tighter
regulation and fewer arbitrage opportunities erode profits.
** Italian insurer UnipolSai is still assessing an
offer by Belgian rival Ageas for the assets it must
sell to satisfy competition regulators, Chief Executive Carlo
Cimbri was quoted as saying on Tuesday.
** Specialty pharmaceutical company Sinclair IS Pharma Plc
said it entered an agreement to buy the global rights to
dermal gel brand Perfectha through the acquisition of
dermatology company Obvieline Laboratories SA.
** The board of directors of Austrian lender Raiffeisen
may form an opinion as soon as Tuesday on selling all
or part of its Hungarian business, the business daily Napi
Gazdasag reported without naming its sources. A spokesman for
Raiffeisen in Hungary declined immediate comment.
** A government decree in Vietnam, on Tuesday said effective
on Feb. 20, foreign banks could be allowed to buy majority
stakes in domestic lenders considered weak, and marginally
greater shares than at present in stronger banks. It did not
stipulate what constituted a "weak" bank.
The move is one of a series of incremental steps taken by
Vietnam's communist government to revive a once-thriving economy
that has been stuck in a quagmire in large part due to high
levels of toxic debt and tight lending .
** Time Warner's Warner Bros division is in talks to
buy Dutch television production company Eyeworks, Dutch media
reported on Tuesday, giving no details of the value of the deal
** Franco-Belgian financial group Dexia said on
Tuesday it had agreed to sell its 40 percent stake in private
bank Popular Banca Privada to its joint venture partner Banco
Popular for 49.2 million euros ($67.12 million).
** Australian food manufacturer Goodman Fielder
said on Wednesday it will sell its New Zealand meat and pizza
businesses, raising net proceeds of NZ$15 million to NZ$17
million ($12 million-$14 million) which would be used to reduce