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Deals of the day- Mergers and acquisitions
August 28, 2014 / 10:10 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds Deutsche Telekom, Ziggo; updates Vivendi)

Aug 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** French media group Vivendi SA picked Telefonica for exclusive talks over the sale of its Brazilian broadband unit GVT, spurning a rival bid from Telecom Italia . Vivendi will get 4.66 billion euros ($6.14 billion) in cash from Telefonica.

** Deutsche Telekom AG is open to a sale of its T-Mobile US Inc unit, if an offer values the business at $35 per share or more, Bloomberg reported on Thursday, citing a person familiar with the matter.

** U.S. cable TV provider Liberty Global will gain EU antitrust approval to acquire Ziggo on condition it sells a pay TV channel and doesn’t block rivals from its internet network, two people familiar with the matter said on Thursday.

** Dollar General Corp, the No.1 U.S. deep discount retailer, said it remained committed to acquiring rival Family Dollar Stores Inc and that its offer was both superior and achievable than an offer from Dollar Tree Inc.

Family Dollar rejected last week a $9 billion buyout offer from Dollar General that, it said, could run foul of competition law, opting instead for a smaller bid from Dollar Tree.

** Oak Hill Capital Partners LP, the private equity owner of restaurant and arcade chain Dave & Buster’s Inc, is considering raising a smaller fund than its previous $3.8 billion flagship buyout fund, according to people familiar with the matter.

** The Italian government is on course to sell stakes in energy groups Enel SpA and Eni SpA and to transfer its holding in chip maker STMicroelectronics NV by the end of the year, a senior official said on Thursday. The Eni stake sale could raise just under 3 billion euros at current market prices, with 2 billion coming from the Enel stake.

** Britain’s CSR Plc has rebuffed an approach from Microchip Technology Inc, saying its U.S. rival would have to pay more if it wants to bolster its role in the “Internet of Things” with the chipmaker’s radio technology.

** The state of Western Australia on Thursday said it planned to sell government-owned assets, including part of the Port Hedland shipping terminal, for an estimated A$1 billion to A$2 billion ($1.9 billion) as its resource-heavy economy adjusts to the collapse of a decade-long mining boom.

** Two Chinese firms are among companies which have approached STATS ChipPAC Ltd about acquiring it, the Singapore provider of technology services said on Thursday.

STATS ChipPAC, which has a market value of $1.2 billion and is majority owned by state investor Temasek Holdings, identified Jiangsu Changjiang Electronics Technology Co and Tianshui Huatian Technology Co as possible bidders.

** Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.

** RHB Capital Bhd, Malaysia’s fourth-largest lender by assets, is discussing the sale of its investment banking unit if a planned merger with two rivals proceeds, people familiar with the plan said on Thursday.

RHB Investment Bank is worth more than 2 billion Malaysian ringgit ($636 million), according to two Kuala Lumpur-based analysts covering RHB.

** Chinese private equity firm Hony Capital will sell a tranche of over $500 million of shares in CSPC Pharmaceutical Group Ltd for the second time in three months, cashing in on the drugmaker’s buoyant stock.

Hony is offering 650 million shares in fast-growing CSPC in an indicative range of HK$6.30 to HK$6.45 each, worth up to $535 million, according to a term sheet seen by IFR, a Thomson Reuters publication.

** Hony Capital has agreed to buy a 15 billion yuan ($246 million) stake in Shanghai Jin Jiang International Hotels Development Co, the hotel company said on Thursday.

** Australia’s largest buyout firm Pacific Equity Partners said it had sold down its stake in newly-listed credit rating company Veda Group Ltd, making a A$243 million ($227.42 million) profit on share gains over eight months. PEP sold the stake for A$2.15 per share, or A$580 million.

** Canadian oil and gas company Crew Energy Inc said it would sell its liquids-rich assets in Princess, Alberta for C$150 million to focus on the development of its core Montney properties in British Columbia.

** India’s Adani Enterprises Ltd has agreed to pay A$155 million ($145 million) to Linc Energy to buy out the Australian firm’s rights to future royalties from Adani’s huge but delayed Carmichael coal project, already four years behind schedule.

** Support services group DCC Plc on Thursday said it had agreed to buy Esso’s motorway retail network in France, its biggest ever acquisition, for 84 million pounds ($139.36 million).

** Tiger Resources Ltd has agreed to buy out the Democratic Republic of Congo state miner’s stake in the Kipoi copper mine for $111 million, taking full control of the mine, the Australian company said on Thursday.

** SNS Reaal, the Dutch financial services group nationalized last year, said international and domestic parties had expressed interest in its insurance operations which will go up for sale in September.

** Singapore sovereign fund GIC said on Thursday it has invested $104 mln in Taiwanese music streaming service provider KKBOX.

** Intrepid Mines launched a friendly A$58.6 million ($54.7 million) all-share offer on Thursday for Blackthorn Resources, which plans to build a copper mine in Zambia, and announced a A$110 million share buy back.

** Energy Future Holdings, the big Texas power company that filed for bankruptcy in April, said it will present a proposal for auctioning the company after it scrapped an earlier plan to exit Chapter 11 under control of unsecured creditors. ($1 = 0.76 euro) ($1 = 3.15 Malaysian ringgit) ($1 = 7.75 Hong Kong dollar) ($1 = 6.14 Chinese yuan) ($1 = 1.07 Australian dollar) ($1 = 0.60 British pounds) (Compiled by Manya Venkatesh and Mridhula Raghavan in Bangalore)

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