(Adds Societe Generale, AutoNavi Holdings)
April 11 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Friday:
** Chinese digital mapping and navigation firm AutoNavi
Holdings Ltd agreed to be acquired by e-commerce firm
Alibaba Group Holding Ltd IPO-ALIB.N in a deal valuing the
company at about $1.5 billion.
** Patent buyer Intellectual Ventures has persuaded
Microsoft Corp and Sony Corp to invest in its
latest acquisition fund while Apple Inc and Intel Corp
, which invested with Intellectual Ventures previously,
declined to participate, according to people briefed on the
** Societe Generale, France's second-largest bank,
has increased its stake in Russian subsidiary Rosbank,
which it said was part of a long-term commitment to Russia. The
deal comes as Russia's economy is under pressure partly as a
result of sanctions imposed by the United States and Europe to
protest against Moscow's annexation of Crimea.
** A buyout offer from India's billionaire Ruia family for
Essar Energy Plc "materially undervalued" the company
and its prospects, an independent committee set up to examine
the offer said for a third time.
** A small Australian exploration company said it had
secured more than $6 billion in equity funding from unnamed
investors to build a port and rail network to revive plans for a
second iron ore export zone in the country. Padbury Mining
said it was obtaining the funds from private Australian
equity investors, who required anonymity, with an initial $470
million due in 40-45 days.
** Bank of Queensland Ltd said it would buy the
professional finance and leasing arm of South African-owned
Investec's Australian unit for A$440 million ($414
million), aiming to boost credit quality and diversify outside
its home state.
** U.S. tax preparer H&R Block Inc said on Thursday
it would sell its bank unit to BofI Federal Bank, freeing the
company from Federal Reserve oversight.
** Petrolimex Bank, owned by Vietnam's top oil product
importer and distributor Petrolimex, said it had received a
takeover offer from VietinBank.
** Britain's Vodafone said it had taken full
ownership of Vodafone India by buying the 11 percent it did not
already own from Piramal Enterprises Ltd.
** Austria's part-nationalized Volksbanken AG
said on Friday that it had sold its Volksbank Malta unit to
Mediterranean Bank. Volksbanken did not give
** The prospect of Etihad Airways buying nearly half of
Alitalia has significantly increased after a meeting between
Etihad's boss and Italy's prime minister, and disagreements over
job cuts may be overcome, said a source with knowledge of the
($1 = 1.06 Australian dollars)
($1 = 0.60 British pounds)
($1 = 0.72 euros)
(Compiled by Sneha Banerjee in Bangalore)