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Deals of the day -- mergers and acquisitions
August 5, 2013 / 10:10 AM / 4 years ago

Deals of the day -- mergers and acquisitions

Aug 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** US Airways Group Inc and AMR Corp’s American Airlines secured EU regulatory approval on Monday for their $11 billion merger after promising to surrender slots at Heathrow and Philadelphia airports.

** Private equity firm Hellman & Friedman LLC has clinched a roughly $4.4 billion deal to take over Hub International Inc, Canada’s largest insurance brokerage, from Apax Partners LLP, the firms said on Monday.

** Private equity firm MBK Partners is in exclusive talks to buy ING Groep’s South Korean insurance unit for 1.8 trillion won ($1.6 billion), South Korean newspaper Chosun Ilbo reported on Monday, citing sources in the insurance industry.

** U.S. private equity giant Blackstone Group LP has been given a green light by the European Commission to take over Dutch mall developer Multi Corporation in a deal that will boost its presence in Turkey, a document shows.

** Cosmetics maker Revlon Inc will buy Spanish beauty care company The Colomer Group for $660 million, reacquiring a professional products business it sold 13 years ago.

** Aviva PLC is planning to pull out of its Indian insurance joint venture, valued at more than $500 million, as the British insurer retreats from less-profitable markets where it has struggled to grow its business, sources said.

Aviva is in the process of hiring corporate advisers to find buyers for its 26 percent stake in Aviva Life, its venture with Dabur Group, the sources told Reuters.

** French gas and power giant GDF Suez said it had agreed to sell 50 percent of a 3,300 megawatt portfolio of thermal and renewable power generation assets in Portugal to Japanese trading house Marubeni Corp.

GDF did not say how much Marubeni paid.

** UK miner Glencore Xstrata said it agreed to sell Joe White Maltings, a malt producer based in Australia, to agribusiness giant Cargill Inc.

Glencore, which did not disclose the sum involved, said on Monday the deal was subject to regulatory approvals.

** London commodities broker Marex Spectron is in talks to buy the metals storage unit owned by JPMorgan Chase & Co , the Times of London reported.

** Spanish nationalized bank BFA-Bankia said on Friday it sold a 20.1 percent stake in technology company Indra Sistemas to state holding company SEPI for 337 million euros ($447.6 million).

** The New York Times Co agreed to sell The Boston Globe to the principal owner of the Boston Red Sox baseball team, John W. Henry, for $70 million in cash, ending its 20-year ownership of the paper.

The transaction announced on Saturday includes the Worcester Telegram & Gazette, related digital properties of both papers, and a direct mail marketing company.

** Kuwait-based Kout Food Group said on Sunday it bought British roadside dining chain Little Chef for about 15 million pounds ($23 million).

** IBT Media, a digital-only media company, said on Saturday it was acquiring Newsweek from IAC/InterActivecorp, which took over the venerable title in 2010, stopped its print edition and relaunched it as a digital-only magazine earlier this year. IBT did not disclose the terms of the deal.

** Private equity firm CVC has entered into exclusive talks to buy British home appliance insurer Domestic & General from Advent International, banking sources said on Monday.

** Chilean retailer SMU, which owns Unimarc, one of the country’s largest supermarket chains, is looking to sell some businesses to raise cash after an accounting error led it to breach debt covenants.

** One of China’s top securities brokers has bought parts of the commodities trading unit of French bank Natixis in the latest move by Chinese institutions to expand into natural resources markets.

** Rhoen-Klinkum said it was told by a court it cannot enter into the commercial register a shareholder vote to remove a barrier to the hospital operator being taken over, citing a legal challenge that a dissident investor launched last month.

** U.S. chemical maker Rockwood Holdings Inc hopes to turn around the paint pigments business it has been trying to sell for a year as it expects raw material costs to halve.

“... The business is going to come back and there is no reason to be in a great rush to do anything,” Chief Executive Seifi Ghasemi said, but added that the company was committed to selling the business.

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