(Updates Oi SA; adds Dow Chemical, Tyson and others)
Aug 27 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Wednesday:
** Brazil's Grupo Oi SA unveiled plans to take
over Telecom Italia's local mobile unit, in a move sources said
was aimed at breaking up the country's second-biggest wireless
carrier and upstaging merger bids by foreign rivals.
Oi said it hired Brazilian investment bank and shareholder
Grupo BTG Pactual SA to explore alternatives to
acquire Telecom Italia SpA's 67 percent stake in TIM
Participações SA, the country's second-biggest
** Dow Chemical Co has kicked off a processes to
sell two of its specialty chemical subsidiaries that could fetch
close to $2 billion combined, according to people familiar with
the matter, part of its effort to divest several billion dollars
worth of non-core assets by 2015.
** HSBC Holdings Plc and two Indian investment banks will
manage the Indian government's planned stake sale in hydropower
producer NHPC Ltd, two sources with direct knowledge
of the deal said on Wednesday.
IDFC Capital Ltd and Edelweiss Financial Services
Ltd are the other two advisors for the sale of an
11.36 percent government stake in NHPC. The stake is worth about
$436 million at the current market price.
** Tyson Foods Inc, the largest U.S. meat processor,
won U.S. antitrust approval for its purchase of Hillshire Brands
Co, the U.S. Justice Department said.
** A former chief executive of major Dubai construction firm
Arabtec said he was in talks to sell a part of his
stake to Abu Dhabi's Aabar Investments and wanted over 5 dirhams
per share, about 4 percent above the current market price.
** Private equity firm Terra Firma Capital Partners
is looking to sell the Garden Centre Group two years
after buying the business, Bloomberg reported on Wednesday,
citing people familiar with the matter.
Terra Firma has held talks with potential advisers about a
sale or a public floatation, which could value the company at up
to 700 million pounds ($1.16 billion), Bloomberg said.
** Ratan Tata, the former chairman of India's salt-to-steel
Tata conglomerate, has bought a stake in Indian online retailer
Snapdeal, the company said, joining a list of funds who have
invested in the country's growing e-commerce industry.
Snapdeal did not give the size or financial details of the
** German property company IVG Immobilien is
planning a new attempt to sell The Squaire, the office and hotel
building perched on top of the train station at Frankfurt
airport, a source familiar with the process told Reuters.
According to the most recent figures available, The Squaire
had a book value of 800 million euros ($1.06 billion), against
building costs of over 1 billion euros in the company's 2012
** Juice maker Cutrale and investment firm Safra Group
questioned a decision by Chiquita Brands International Inc's
board to reject their $611 million takeover bid in favor
of a merger with Ireland's Fyffes Plc, saying the move
will destroy shareholder value and face unnecessary headwinds.
** The board of Spain's Telefonica is set to meet
to decide on an improved offer for Vivendi's Brazilian
broadband unit GVT, a source familiar with the
situation said, potentially topping an expected 7 billion euro
($9.2 billion) offer from Telecom Italia.
** Royal Dutch Shell PLC has sold some of the four
oil fields up for grabs in Nigeria, it said, as the oil and gas
company pushes ahead with global asset sales to cut costs. No
details were available on the value of the deals signed, nor
when the full process will be completed.
** Ryanair Holdings PLC has moved a step closer to
making an offer to buy Cyprus Airways and may make a
firm offer early next year if this is approved by the Cypriot
** Allergan Inc said on Tuesday that it has
scheduled a special shareholders meeting for Dec. 18, when
activist investor Bill Ackman, who supports a hostile bid for
the company by Valeant Pharmaceuticals Inc, will
attempt to oust most of its board.
** Venture capital firm Kleiner Perkins Caufield & Byer has
agreed to invest in fast-growing messaging startup Snapchat at a
valuation close to $10 billion, the Wall Street Journal reported
on Tuesday, citing people with knowledge of the matter.
** Vietnam Airlines is in talks with several partners to
sell a 20 percent stake after it launches an initial public
offering to raise 1.5 trillion dong ($70 million) later this
year, ahead of a stock listing that could be overseas, it said
** Global private equity firm Carlyle Group is in
advanced talks with China Vanke Co Ltd, the country's
largest property developer, to buy stakes in nine of its
shopping malls, two people with direct knowledge of the matter
told Reuters. One source said the deal was valued at between 6-7
billion yuan ($976 million to $1.14 billion), while the other
said it could be worth up to 10 billion yuan.
** Spanish energy company Repsol SA's talks to buy
Canadian producer Talisman Energy Inc are in
difficulty, three sources familiar with the matter said, with
Talisman's North Sea assets the stumbling block.
** A former chief executive of Dubai construction firm
Arabtec said he was in talks on selling some of his stake to Abu
Dhabi's Aabar Investments and wanted over 5 dirhams per share, a
level that is about 4 percent above the current market price.
Hasan Ismaik said he was in talks with Aabar to sell part of his
27.90 percent stake.
** New Zealand's Fonterra Cooperative Group Ltd
said it will take a stake in China's biggest baby food and
formula maker Beingmate Baby and Child Food Co. Ltd
in the dairy giant's first tie-up with a Chinese processor since
its involvement in a tainted infant formula scandal in 2008.
** China's privately-held Dalian Wanda Group is set to
launch a 5 billion yuan ($813 million) e-commerce joint venture
with domestic internet giants Tencent Holdings Ltd and
Baidu Inc, according to two sources familiar with the
** Shareholders of South Korean internet portal operator
Daum Communications Corp and messaging application
firm Kakao Corp approved an all-stock merger between the two
firms, paving the way for a back-door listing that values Kakao
at over $3 billion.
** Norwegian IT outsourcer Evry ASA, which serves
banks and other data-heavy clients, is considering whether to
find a buyer for the whole firm, its board said, sending the
shares up to a three-year high.
** Chiquita Brands International on Wednesday
re-affirmed its commitment to a merger with Irish tropical fruit
company Fyffes Plc and said it expected the deal to
yield cost synergies of $60 million.
** Taiwan's Cathay Financial Holding Co is in
talks to acquire a 20 percent stake in medium-sized Philippine
lender Rizal Commercial Banking Corp amid plans to
expand in Southeast Asia, people with knowledge of the
discussions said. The stake could be worth around 14.3 billion
pesos ($327 million) at the current share price.
** Singapore's Oversea-Chinese Banking Corporation (OCBC)
and its insurance arm Great Eastern Holdings
said they are in exclusive talks with a company controlled by
Thai billionaire Charoen Sirivadhanabhakdi to sell their stake
in United Engineers Ltd.
** Brazil's state-run power utility Eletrobras
said on Tuesday it agreed to buy a 51 percent stake in power
distributor Celg Distribuição for 59.5 million reais ($26.3
** Poland's Alior Bank SA is selling its wholly
owned drugstore chain Polbita to drug distributor Pelion SA
for an undisclosed sum.
** As hopes for a last-minute buyer dim, Atlantic City's
Revel casino has laid out its closure plans, from disposing of
opened bottles of alcohol to cashing unredeemed poker chips. The
plans, detailed in court documents, will go into effect on
Sunday, marking the end of a $2.4 billion hotel-casino.
($1 = 0.76 euro)
($1 = 6.14 Chinese yuan)
($1 = 43.69 Philippine peso)
(1 US dollar = 0.6033 British pound)
(Compiled by Manya Venkatesh and Mridhula Raghavan in