March 7 The following bids, mergers,
acquisitions and disposals were reported by 1600 GMT on
** Citigroup Inc put its consumer finance units in
Brazil up for sale, a source with knowledge of the situation
told Reuters, in a deal that might fetch the New York-based bank
as much as 1.5 billion reais ($761 million).
** Lithuanian gas utility Lietuvos Dujos said it
would spin off its gas transport arm by end-July and that EU
rules would force Gazprom and E.ON Ruhrgas
to sell their stakes in the new firm.
The new gas grid operator, called Amber Grid, will take 1.6
billion litas ($602.4 million) or 57.4 percent of the utility's
assets, Lietuvos Dujos said.
** Private equity firm Sycamore partners will take teen
apparel retailer Hot Topic Inc private in a $600
million deal, adding to a retail portfolio that includes Talbots
** Troubled Scandinavian airline SAS took another
step in its long-term survival and cost cutting plan by agreeing
to offload its ground handling business to Swissport.
** Danish renewable energy firm Greentech Energy Systems
and asset manager Foresight Group have agreed to form a
joint venture to invest in solar photovoltaic projects in the
Denmark's Greentech will take a 51 percent stake in the
joint venture and UK-based Foresight will hold the remaining 49
percent, they said.
** Phillips 66 may shed its non-core refinery
interests in Europe and Asia, an executive told analysts,
mentioning three plants that were either small or in markets
where the company saw no growth opportunities.
** Media group Lagardere set a timetable for its
exit from EADS on Thursday, pledging to sell its 7.4
percent stake in the European aerospace and defense group before
** Brazilian homebuilder Gafisa SA is discussing
the sale of its high-end Alphaville unit with three potential
buyers, including Sam Zell's Equity International, a local
newspaper reported on Thursday, citing sources.
Gafisa owns 80 percent of Alphaville, which could be worth
about 1.8 billion reais ($914 million), according to the report
in O Estado de S. Paulo. The sale would help Gafisa reduce its
debt, which is among the highest in Brazil's construction
** Activist investor Carl Icahn urged Dell Inc to
pay out $15.7 billion in a special dividend, joining a growing
chorus of opposition to founder Michael Dell's plan to take the
world's No. 3 personal computer maker private.
** PPR is close to snapping up Milanese jeweller
Pomellato in a deal that would allow the French luxury and
sports brand group to expand in a sector in which it has a small
presence, sources close to the matter said.
A banking source said PPR was near closing the acquisition
which would value the jeweller at around 350 million euros ($455
** India's Bharti Airtel Ltd is looking to sell up
to a quarter of its satellite TV services arm and is in talks
with several potential suitors, two sources with direct
knowledge of the situation said.
** Adidas AG has dropped the plan to sell its
hockey business as potential buyers did not make offers
interesting enough for the German sports apparel company, Chief
Executive Herbert Hainer said on Thursday.
** U.S. private equity firms Blackstone Group LP and
TPG Capital have placed separate final bids for
Australia's largest poultry producer, Inghams Chicken, sources
with direct knowledge of the matter told Reuters on Thursday.
The bids could value privately-owned Inghams at about A$800
million ($821 million), a separate source said.
** Ports operator DP World Ltd is selling its
stakes in two container terminals and a logistics center in Hong
Kong for $742 million as part of a rejig of assets in favor of
fast-growing emerging markets.
** London Stock Exchange Group has submitted a
revised 328 million euro ($426.4 million) cash offer to buy a
majority stake in LCH Clearnet, in a deal aimed at giving the
exchange a gateway into the lucrative debt and currency clearing
** British engineer IMI Plc said it planned to sell
most of its merchandising business, which makes marketing
displays. The business contributed about 8 percent of revenue in
** China National Petroleum Corp (CNPC) has been approached
by investment banks and asked to consider buying part of Italian
oil company Eni SpA's stake in a giant natural gas
field in Mozambique, a person with knowledge of the
** Time Warner Inc will soon be without the magazine
unit that provided the foundation for the company and the first
part of its name. Time Inc, the division that publishes titles
like Time, Fortune and People, will be spun off into a separate
company, Time Warner said late Wednesday, ending weeks of merger
negotiations with Meredith Corp.