Aug 6 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Tuesday:
** Blackstone Group LP is exploring a sale of La
Quinta Inns & Suites, a budget hotel chain it values at around
$4.5 billion, a person familiar with the matter said.
** Global Tower Partners, a U.S. wireless tower operator, is
up for sale and may fetch more than $4 billion, according to a
person familiar with the asset.
Other telecom tower operators as well as infrastructure
funds are expected to have a look at the largest privately held
operator of U.S. cell towers, the person said.
** The Washington Post Co said on Monday it has sold
its flagship newspaper to Jeff Bezos, the founder of Amazon.com
Inc for $250 million.
** Morgan Stanley is exploring various options for
its multibillion dollar commodities business, with the sale of a
minority stake being one possibility, three sources familiar
with the situation said on Monday.
** U.S. bank JPMorgan Chase & Co, which plans to
stop trading in physical commodities, has bought the
over-the-counter business in commodity derivatives of
Switzerland's UBS AG, the banks said.
** Three big-name bidders for Rio Tinto's majority
stake in Canada's largest iron ore producer are now out of the
running, sources familiar with the talks said, after offers came
in well below the mining group's targets.
** Two of Russian billionaire Alisher Usmanov's partners in
his telecoms holding company Garsdale -- which owns a stake in
telecoms operator MegaFon -- are planning to
sell out for up to $1.9 billion, the Vedomosti newspaper
** A group including former U.S. insurance magnate Maurice
"Hank" Greenberg and an Abu Dhabi sovereign fund have agreed to
buy a prominent Tokyo office building for $1 billion, the
biggest property deal in Japan since February, said people with
direct knowledge of the transaction.
** Alliant Techsystems Inc, the world's largest
ammunition maker, is in advanced talks to buy Bushnell Outdoor
Products Inc in a deal that could value the gun accessory maker
at around $1 billion, two sources familiar with the matter said
** Emerson Electric Co said it was selling a
majority stake in its embedded computing and power business for
about $300 million.
** Spirit AeroSystems Holdings, a supplier of parts
to Boeing Co and Airbus, said it plans to divest
its Oklahoma operations, including sites in Tulsa and McAlester,
in a bid to improve operations and drive down costs.
** German generic drugmaker Stada said it was
entering exclusive talks to buy British over-the-counter drug
manufacturer Thornton & Ross.
Stada will use cash on hand and existing free credit lines
to finance the acquisition, the company said, without saying how
much it expected to pay for Thornton & Ross.
** Austrian property firm Conwert Immobilien said
it had agreed to buy a German residential portfolio for 179
million euros ($237 million) cash in one of its biggest
** Raizen Energia SA bought a 10 percent stake in STP, owner
of the electronic payment system Sem Parar (non-stop in
Portuguese), to allow the tool to be used at Shell gas stations
in Brazil, according to a securities filing on Monday.
Raizen, the world's largest sugar and ethanol producer, is a
joint venture between Brazil's Cosan SA and Royal
Dutch Shell Plc. Raizen paid 250 million reais ($108.23
million) for the stake.
** The National Hockey League sold the Phoenix Coyotes on
Monday to a group of investors headed by Canadian businessmen
George Gosbee and Anthony LeBlanc, successfully ending a
four-year search for a new owner who would keep the team in
The terms of the sale were not disclosed, but ESPN.com
pegged it at $170 million.
** German gold trading company Degussa Goldhandel said it
acquired regional precious metals dealer SilviOr GmbH in a bid
to expand trading and vaulting capacity to meet expected growth
in coin and bar demand.
SilviOr, based in Wuerzburg, manages precious metals
investments worth around 50 million euros ($66.33 million).
** Telefonica Czech Republic is close to a
cost-cutting deal to share infrastructure with rival Vodafone
, newspaper Mlada Fronta Dnes reported on Tuesday, citing
sources close to both companies.
Vodafone, No. 3 in the Czech market, would pay Telefonica CR
40 million euros ($52.96 million) under the arrangement,
according to company documents cited by the newspaper.
** A new Brazilian telecommunications company backed by
billionaire financier George Soros plans to invest at least 500
million reais ($218 million) over the next three years,
executives said on Tuesday, ramping up competition among
Internet providers in a cooling market.
** Spain's "bad bank" Sareb said it closed its first
property portfolio deal, with investment firm H.I.G. Capital
taking a 51 percent stake in a package of close to 1,000 homes
around Spain, known as Project Bull.
Sareb said the deal priced the portfolio at 100 million
euros ($133.10 million).
** The city of Berlin is close to agreeing a deal to buy
back French water and waste group Veolia Environment's 24.95
percent stake in Berliner Wasserbetriebe, which provides water
to the German capital.
** France's stockmarket regulator said it extended a
takeover bid for French resort group Club Med by
China's Fosun International and AXA Private Equity
after shareholder complaints.
** Siemens AG is hoping to fetch as much as $700
million in the auction of its water technologies unit and is
seeking second-round bids by the middle of August, several
people familiar with the matter said this week.