(Adds GMR Group, Italia Media; Updates Hess, Aurizon Mines,
March 4 The following bids, mergers,
acquisitions and disposals were reported by 1600 GMT on Monday:
** News Corporation has sold its near 44 percent
stake in New Zealand's dominant pay television operator, Sky
Network Television Ltd, although no immediate details
on the price were available, the companies said.
** Spanish oil group Repsol has sold a 5 percent
stake to Singapore's government fund, Temasek, in a further step
towards financial stability after the sale last week of gas
assets to Shell. Temasek, which has been boosting
investments in the energy sector, bought Repsol's entire
portfolio of treasury stock for 1.04 billion euros ($1.35
billion), lifting its holding to 6.3 percent, Repsol said.
** Hess Corp will offload its energy trading arm,
Hetco, and exit its retail gasoline and marketing businesses by
2015 after pressure from investors accelerated plans to break up
the company's sprawling energy empire.
** U.S. silver miner Hecla Mining Co agreed to buy
Aurizon Mines Ltd for about C$796 million ($774
million) to ramp up its gold production, topping an unsuccessful
bid by the Canadian company's largest shareholder.
** Chemical maker A. Schulman Inc offered to buy
peer Ferro Corp for $563 million to increase its pricing
power amid weak demand, but the smaller rival rejected the bid
saying it was better off continuing its own strategy.
** India's GMR Group said it would sell its 70
percent stake in the Island Power Project in Singapore to FPM
Power Holdings for S$660 million ($532 million).
** Irish drugmaker Elan has sweetened the terms on
offer to shareholders under its $3.25 billion disposal plan, as
it aims to stave off an approach for the company from U.S.
investment firm Royalty Pharma. Elan said it would
give shareholders 20 percent of future royalties from multiple
sclerosis drug Tysabri, in which it holds a 50 percent interest
that it proposes selling to its U.S. partner Biogen Idec
** Stan Kroenke has no plans to sell his majority stake in
Arsenal, a spokesman for the Premier League soccer club said on
Sunday, responding to a report that a Middle East consortium
planned a 1.5 billion-pound ($2.25 billion) bid.
** Telecom Italia Media said it would pump money
into its cash-burning La7 channel before offloading it to media
firm Cairo Communication for a token price.
The Italian broadcaster, controlled by telecoms group
Telecom Italia, has agreed to sell its flagship
network for 1 million euros ($1.30 million) in a deal that
underscores the difficulties of Italy's media industry.
** Bahrain-based investment manager Investcorp has
completed the sale of industrial supplies distributor IPH Group
to a Paris-based European private equity firm, PAI Partners.
($1 = 0.6662 British pounds)
($1 = 1.0280 Canadian dollars)
($1 = 0.7687 euros)
(Compiled by Maria Ajit Thomas and Garima Goel in Bangalore)