Oct 3 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Thursday:
** China's Minmetals has submitted a first-round bid for
Glencore-Xstrata Plc's $5.9 billion Las Bambas copper
mine in Peru, Gu Liangmin, managing director of the state-owned
metals and mining company, said.
** Two funds managed by Goldman Sachs Group Inc and
two Danish pension funds will between them buy 26 percent in
Danish state-owned oil and gas group DONG Energy for 11 billion
Danish crowns ($2.00 billion) and plan an IPO for the firm, the
** Banking group Nomos-Bank OAO is offering 21.8
million new shares to existing investors partly to fund the
acquisition of a stake in rival Otkritie, the company said in a
statement. The shares would be worth 18 billion roubles ($559
million) at current prices, according to Reuters calculations.
** Finmeccanica SpA's board will meet on Friday to
decide on an offer from state-owned agency Cassa Depositi e
Prestiti to buy a 80-90 percent stake in its power engineering
unit Ansaldo Energia, a source familiar with the matter said.
Finmeccanica could raise at least 400 million euros ($545
million) from the deal which could be finalised by the end of
the year, the source said asking not to be named.
** India's cabinet approved on Thursday a $330 million deal
by Abu Dhabi's Etihad Airways to buy a stake in Jet Airways
(India) Ltd, Aviation Minister Ajit Singh told
reporters, taking the companies one step closer to complete the
** Members of North Dakota-based Dakota Plains Cooperative
approved a merger with top U.S. farmer cooperative CHS Inc
effective Jan 1, pending approval by the CHS board,
the companies said in a statement.
** Egon Furstenberg, founder and chairman of Italy's lender
Banca IFIS SpA, said he was launching the sale of a
stake of up to 11 percent in the bank.
** UniCredit, Italy's largest bank by assets, has
submitted a preliminary offer to buy Poland's Bank BGZ
and is sounding investors out on the possibility of selling its
Ukrainian unit, Chief Executive Federico Ghizzoni said. This is
a part of the bank's strategy to strengthen its presence in
countries it considers "core" and leave those markets where it
sees little opportunity for growth, he said.
** Falkland Oil and Gas is to buy smaller firm
Desire Petroleum to create a company with licenses to
hunt for oil both to the north and south of the remote British
territory in the South Atlantic. FOGL said it agreed to buy the
Falkland-based company, offering 0.6 FOGL shares for each Desire
share, in a deal valuing Desire at 61 million pounds ($99
** Italy's Intesa Sanpaolo is not interested in
buying other lenders in Italy, its new chief executive told
business daily Il Sole-24 Ore, contradicting media reports it
might be interested in deals. The country's largest retail bank
has come under pressure from non-performing loans as Italy's
longest recession in 60 years takes its toll on the balance
** Private equity firm Ardian, which was recently spun off
from French insurer AXA, has completed fundraising for
a new 2.4 billion euro ($3.26 billion) buyout fund with fresh
money from the United States and Asia. Ardian said it had
already committed 24 percent of the fund to six mid-market
deals, including investments in German pharmaceuticals
specialist Riemser, Italian prosthetics maker Lima and French
engineering group Fives. The fund has also sealed 400 million
euros in co-investment commitments.
** Novatek OAO and Gazprom Neft want to
buy Eni SpA's stake in Russian gas company SeverEnergia
in a battle that pitches oil and gas barons against Russian
state-controlled oil company Rosneft, Kommersant daily
reported. The deal would help the Russian duo counter the
influence of Rosneft, which last month agreed to purchase Enel
SpA's indirect stake in SeverEnergia.
** India's Essar Energy Plc, which co-owns east
Africa's sole refinery in Mombasa, said it would sell its 50
percent stake to Kenya's government after abandoning plans for a
$1.2 billion upgrade. Essar had planned to increase the
refinery's crude handling capacity to 4 million ton of crude per
year by 2018 from 1.6 million now, but oil marketers in Kenya,
unhappy with the refinery's products and costs, have called for
it to be closed.
** General Electric Co will float a majority stake in
its Swiss consumer finance unit in the fourth quarter as part of
a retreat from the sector to focus more on industrial interests.
The unit, GE Money Bank, said it would list all 30 million of
its shares on the SIX Swiss exchange but GE Capital would keep a
minority stake. The listing price and the number of shares
offered for sale have yet to be determined, the company
** The chairman of Argentine state oil firm YPF SA
said he expected to reach a deal before the end of the year on
compensating Spanish oil group Repsol SA for the YPF
stake it lost in an expropriation, a Spanish newspaper reported.
Repsol has valued the stake at $10.5 billion but Galuccio said
an Argentine assessment court may value the stake at $1.5
** German media conglomerate Bertelsmann said it
had placed 2 million shares in RTL SA, or about 1.3
percent of the broadcaster's share capital, at 75.81 euros per
share. Bertelsmann remains the majority shareholder in RTL Group
following the placement, with a stake of 75.1
** Russia's TCS Group Holding, a parent company for credit
card supplier Tinkoff Credit Systems, launched a London initial
public offering to raise up to $750 million and will use
proceeds to grow its retail lending business.
** Swedish bank SEB and Danske Bank A/S
, Denmark's biggest financial group, have held talks
to explore the possibility of a large structural deal, a Swedish
business daily reported, citing anonymous sources.
** Rio Tinto Ltd has agreed to give away the Blair
Athol coal mine in Australia to Linc Energy Ltd, which
plans to reopen the mine to expand its coal unit ahead of a
spin-off, the two companies said. Rio Tinto and its partners
closed the mine last November as its resource had nearly run out
after 30 years of operations.
** Siena prosecutors requested that JPMorgan Chase & Co
stand trial for obstructing regulators as part of a
wider probe into Banca Monte dei Paschi di Siena's
purchase of Banca Antonveneta, a judicial source
told Reuters. Prosecutors allege JPMorgan withheld information
from Italian regulators about a 1 billion euro ($1.36 billion)
financing the bank arranged for Italian bank Monte Paschi's
takeover of domestic rival Antonveneta in 2008.
** Wal-Mart Stores Inc's India partner, Bharti
Enterprises, will take a call on the future of its wholesale
joint venture with the U.S. retailer this month, the Economic
Times reported. Wal-Mart has an equal joint venture with Bharti
under which it runs its Best Price Modern Wholesale Stores in
** Russia's top oil producer Rosneft has signed an
agreement to buy into the Russian assets of Sweden's Lundin
Petroleum AB, increasing its upstream asset base, said
Rosneft head Igor Sechin. Under the deal, Rosneft acquired 51
percent in Petroresurs, a joint venture of Lundin and trading
house Gunvor with 70 percent and 30 percent, respectively.
** Czech downstream oil group Unipetrol AS has
acquired technology and production rights for a new polyethylene
unit and wants to pick a contractor for the project in the first
half of 2014, the company said.
** Hong Kong's JT Capital Management will present the group
of investors joining it in buying control of Clal Insurance
Enterprises Holdings by an Oct 4 deadline, Clal's
parent company IDB Development said. In August, Israeli
conglomerate IDB Development said it agreed to sell a third of
its insurance unit to JT Capital for 1.47 billion shekels to
meet a court deadline for settling its debts.
** Poland's biggest power producer PGE and gas
monopoly PGNiG agreed to build a combined cycle gas
turbine unit at PGE's heat and power plant for 562 million
zlotys ($181 million), the companies said. The new unit will
supply heat and electricity to the town of Gorzow Wielkopolski
in western Poland, replacing hard coal-fired installations.
** British insurer Aviva Plc sold its U.S. life and
annuities unit to retirement savings provider Athene Holding Ltd
for $2.6 billion. The purchase price is $800 million more than
the price Aviva had expected in December.
** Rosneft may consider acquiring Lukoil's
stake in a consortium, which develops heavy oil in
Venezuela, Rosneft's head Igor Sechin told Reuters. Lukoil,
Russia's second-biggest oil producer, has said it wants to sell
its stake in a Russian consortium developing a large oil project
in Venezuela because it is not a high priority.