Oct 1 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Tuesday:
** Warren Buffett's Berkshire Hathaway Inc will
receive Goldman Sachs Inc stock worth nearly $2.15
billion on Tuesday through warrants acquired as part of a deal
originally signed during the depths of the 2008 financial
crisis. Buffett received the warrants five years ago when his
investment in Goldman was seen as a vote of confidence in the
bank, which was reeling from turmoil in the credit market.
** Assicurazioni Generali SpA, Italy's biggest
insurer, said it had completed the sale of its U.S. life
reinsurance business to France's Scor SE for expected
total gross proceeds of $910 million.
** Japan's Sumitomo Corp agreed to buy steel
products maker Edgen Group Inc for about $520 million to
expand its global distribution business. The $12 per share offer
represents a 58 percent premium to the stock's Monday close of
** Hungarian drug maker Egis Nyrt's board said it
backs French Servier's offer to buy all shares of Egis it does
not already own. Servier's Arts et Techniques du Progres unit,
which owns 51 percent of Egis, offered last week to buy the rest
of the company for 28,000 forints per share in a deal worth 107
billion forints ($488.8 million).
** The Texas attorney general said his state was dropping
out of the U.S. Justice Department lawsuit seeking to block the
merger of American Airlines parent AMR Corp and US
Airways Group Inc.
** Fast-growing internet software maker Opera Software ASA
is neither seeking a buyer nor is it in the market
for any big acquisitions, Chief Executive Lars Boilesen told the
Reuters Nordic Investment Summit.
** French media group Vivendi SA, hoping to offer
pay-TV service to Brazilians eager to watch World Cup soccer
matches and the Olympic Games coming to their country, said on
Tuesday its Brazilian unit GVT had started negotiating with
satellite company EchoStar Corp to set up a pay-TV
venture. The venture with Echostar, owned by billionaire Charlie
Ergen, would be managed by GVT and headquartered in Brazil if
the deal goes through.
** Czech-Greek fund Emma Delta, the buyer of a majority
stake in Greece's gambling monopoly OPAP, said it
raised 400 million euros ($541 million) via a private placement
of senior secured notes to finance part of the purchase.
** The world famous Harlem Globetrotters exhibition
basketball team has been sold to theme park operator Herschend
Family Entertainment, the company announced. Norcross,
Georgia-based Herschend, which operates 26 theme parks and
aquariums across the nation, including most notably Dolly
Parton's Dollywood theme parks, acquired the team from private
equity firm Shamrock Capital Advisors.
** Financier Ronny Pecik may make an offer for Hypo Alpe
Adria's Balkans banking network, the nationalised
lender's prime asset, the Kurier newspaper reported.
** MoneyGram International Inc has decided to remain
public after talks with private equity firms over a leveraged
buyout did not result in an offer in line with its expectations,
three people familiar with the matter said this week.
** Republic Airways Holdings Inc said it would sell
Frontier Airlines to Indigo Partners LLC in a deal valued at
about $145 million. Indigo will pay $36 million in cash for the
equity of Frontier Holdings and assume Frontier's debt.
** Poundland, Britain's largest single-price discount
retailer, is considering an initial public offering in the first
half of next year, two sources familiar with the situation told
** Shareholders in Finnish engineering company Metso
approved plans to spin off its pulp, paper and power
unit to boost growth. The unit, which generated about 40 percent
of Metso's net sales of 7.5 billion euros last year, will be
listed under a new name, Valmet, next year.
** Newmont Mining Corp, the biggest gold miner in
the United States, has joined the race for Glencore Xstrata's
copper mining project in Peru, the Financial Times
reported in its Tuesday edition. Newmont's Chief Executive Gary
Goldberg told the Financial Times that Glencore's Las Bambas
mine was "an interesting prospect".
** Romanian construction materials producer Adeplast will
launch an initial public offering for a minority stake during
Oct. 2-15 on the Bucharest bourse, hoping to raise between 13
and 15 million euros ($20.30 million). "The funds will be used
to finance new investments and develop the company's activity,"
Adeplast said in a statement. The firm plans to sell 16.5
million shares, or roughly 33 percent of its share capital after
** Bank Leumi, Israel's second-largest lender,
sold a 4.35 percent stake in Migdal Insurance and Financial
Holdings to a number of buyers for about 270.5 million
shekels ($77 million), the bank said. Leumi said it sold its
stake in Migdal, Israel's largest insurer, at a price of about
5.9 shekels per share, which was the closing price on Monday.
** Spanish builder Sacyr said its board had
decided to sell its property division Vallehermoso, a move that
could help it shed more than 1.2 billion euros ($1.62 billion)
of debt. In a note to the stock exchange regulator, Sacyr said
it had received interest in Vallehermoso but that no deal had
yet been finalised. It did not give further details on price or
** Qatar Holding, the investment arm of Qatar's sovereign
wealth fund Qatar Investment Authority, has bought NYSE
Euronext's 12 percent stake in the Qatar Exchange, the
Doha-based bourse said. The deal, for which a price was not
revealed, makes Qatar Holding the sole owner of Qatar Exchange,
which operates the country's securities market.
** Commercial Bank of Qatar said it had acquired a
further 3.4 percent stake in Turkey's Alternatifbank through a
public tender offer, building on its majority holding buy
earlier this year. No sale price was given.
** Italian technology company Eurotech has signed a
deal to sell its U.S. aerospace and defense computer operation
Parvus Corp to the Curtiss-Wright group for $38 million.
The sale of Parvus, which specializes in manufacturing rugged
computing and communication systems to companies such as
Lockheed Martin, Northrop Grumman and Boeing, allows Eurotech to
exit what it now views as a non-core sector as it seeks to
return to profit.
** German insurer Talanx is considering winding
down its life insurance arm HDI Lebensversicherung, the group's
chief executive has told daily newspaper Sueddeutsche Zeitung.
The options for HDI include a freeze on new business and the
phasing out of existing contracts, CEO Herbert Haas told the
newspaper. Existing contracts could also be sold to a specialist
company that would wind them down, he said.
** Power group EDF said it was in exclusive talks
with energy services group Dalkia France to buy public lighting
and traffic management company Citelum. EDF founded Citelum in
1993 and handed it over to Dalkia in 2000 when it set up the
energy services joint venture with water and waste group Veolia
** Experian, the British information services
group, has agreed to buy United States fraud detection group The
41st Parameter for $324 million, the firm said.
** Macquarie Group and a group led by non-bank
lender Pepper Australia made final, rival bids for assets with
an estimated net book value of A$1 billion ($935 million) that
Lloyd's Banking Group is selling in a global
restructuring, people familiar with the matter said. The Pepper
Australia consortium includes Bank of America Merrill Lynch,
people familiar with the process said.
** The New Zealand government said it will pump up to NZ$155
million ($128 million) into Solid Energy and private
lenders will swap some debt for equity under a plan to save the
troubled coal miner, which is slated for partial privatization.
The proposed restructuring plan will see the state-owned company
issue NZ$100 million of redeemable preference shares, with key
lenders exchanging NZ$75 million of debt for equity and the
government injecting NZ$25 million.
** Colombia's government raised the asking price for its
majority stake in the country's third-biggest electricity
generator, Isagen, by 11 percent on Monday, citing
strong local and foreign interest. The government will now seek
3,178 pesos ($1.67) per share, President Juan Manuel Santos told
reporters, which would take the total price for its 57.6 percent
stake to around 5 trillion pesos ($2.62 billion), based on a
** Turkish energy company Palmet plans to float a stake of
about 20 percent in an IPO next year to raise money to expand
its business, Chairman Doganay Samuray said. Istanbul-based
Palmet, which distributes natural gas and produces electricity,
hopes to earn $100 million or more from the IPO, Samuray told
Reuters on Monday.
** J.C. Penney Co Inc shareholder Perry Corp has cut
its stake in the retailer by more than half to 3.28 percent, a
regulatory filing showed on Monday. The hedge fund firm, run by
Richard Perry, had earlier reported a stake of 8.62 percent as
of Aug. 30, according to a filing with the U.S. Securities and
** Some of the world's largest private equity firms have
made preliminary offers for Johnson & Johnson's Ortho
Clinical Diagnostics unit, which makes blood screening equipment
and laboratory blood tests and could fetch around $5 billion,
several people familiar with the matter said on Monday.
Blackstone Group LP, KKR & Co LP, Bain Capital
LLC, Carlyle Group LP and BC Partners Ltd are among the
buyout firms that submitted first-round bids last week and are
waiting to hear back this week on who made the shortlist, the
** Telus Corp, one of Canada's biggest wireless
providers, is in talks with Mobilicity to revive a plan for
Telus to purchase the struggling smaller player, the Globe and
Mail newspaper reported late on Monday. The newspaper report,
which cited unnamed sources, came after Mobilicity won
protection from its creditors on Monday and said it was seeking
regulatory approval for a transaction that would allow it to
keep operating. It did not identify the possible buyer.
** Investment firm TCW has acquired private equity firm
Craton Equity Partners in a push to expand its alternative
offerings, the head of the firm's alternative products division
said on Monday.