Nov 14 The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Thursday:
** JPMorgan is set to close its energy trading
operation in Geneva, which employs a team of around 12 traders,
within the next four to five months, sources familiar with the
matter said on Thursday. The investment bank will stop physical
and paper trading of oil, oil products, energy and power in
Geneva by the end of this year, a trade source said, while a
source close to the bank said the operation would close by the
end of the first quarter in 2014.
** Telecom Italia agreed to sell its controlling
22.7 percent stake in Telecom Argentina to Fintech
Group for $960 million, as it presses on with a plan to raise 4
billion euros to fix its balance sheet and revive its business.
** Compuware Corp should consider an immediate sale
or a new restructuring plan, activist investor Starboard Value
LP said in a letter to the business software maker on
** Italian broadcaster Mediaset and its sister
company Mondadori agreed on Thursday a plan to group
their digital, magazine and radio advertising operations under a
** BNP Paribas has agreed to buy the Belgian
state's 25 percent stake in BNP Paribas Fortis for 3.25 billion
euros ($4.36 billion) in a move that will help the country keep
its commitment to lower public debt.
** Spanish savings bank La Caixa raised 1.65 billion euros
($2.2 billion) by cutting its majority stake in Caixabank
to bolster its capital before Europe-wide stress tests
and to meet stricter rules on how savings banks are run.
** Polish businessman Zygmunt Solorz-Zak is to merge
Poland's largest media company, Cyfrowy Polsat, with
his mobile business Polkomtel to ease the group's debt
burden in a deal worth 6.15 billion zlotys ($2 billion).
** Britain's Ophir Energy agreed a $1.3 billion
sale of a stake in Tanzanian gas fields, bringing in a unit of
Singapore's Temasek Holdings to help fund a development project
in the latest Asian investment in East Africa's gas sector.
** Austrian energy group Verbund said it aimed to
decide by year-end on the possible sale of its loss-making
Mellach gas-fired power station.
** Polish state-controlled real estate group PHN is
preparing for due diligence ahead of the government's sale of
another stake in the company to an investor, PHN said.
** U.S. private equity fund Advent International will buy a
minority stake in Colombia's Ocensa oil pipeline for $1.1
billion from Canadian oil firm Talisman Energy Inc,
France's Total SA and Madrid-based Cepsa, the Wall
Street Journal reported, citing people familiar with the matter.
** Mexican frozen food company Sigma Alimentos has launched
a 695 million euro ($932 million) takeover bid for Spanish meat
processor Campofrio at a price analysts said could
tempt its leading shareholder to sell.
** Google Inc struck a deal with private equity
company KKR & Co to invest about $400 million in six
solar power plants being built by Recurrent Energy LLC in
California and Arizona, the Wall Street Journal reported, citing
people familiar with the matter.
** The hotly contested takeover battle for Australia's
oldest dairy company, Warrnambool Cheese and Butter Factory Co
Holdings Ltd, got even hotter as its largest
shareholder Bega Cheese Ltd raised its bid to $461
million and said it would not attach conditions to its offer
like other suitors.
** The New Zealand government is poised to sell down its
stake in the national airline, Air New Zealand Ltd, by
the end of the month, raising as much as NZ$400 million ($330
million) for its privatization program, local media said.
** Top shareholder Air France-KLM said it would
not subscribe to Alitalia's 300 million euro ($402 million)
capital increase after the Italian airline failed to meet strict
conditions for financial restructuring.
** America Movil's chief executive told an
Austrian magazine that the company did not plan a hostile
takeover attempt of Telekom Austria, following its
failed attempt to buy Dutch company KPN.
** Kenyan sisal producer Rea Vipingo's main
shareholder, REA Trading, has offered to buy all the issued
shares in the company, REA Trading said.
** African budget airline Fastjet Plc said its
largest shareholder, Lonrho Ltd, had sold its full stake in the
carrier for about 1.49 million pounds ($2.38 million).
** Russia's anti-monopoly watchdog has cleared a plan by
telecoms operator Rostelecom to buy medium-sized
lender Sobinbank, the regulator said.
** Norwegian bank DNB has sold some of the debt it
held against distressed shipping firm Genco Shipping and Trading
Ltd, a bank spokesman said on Wednesday.
** Turkish discount retailer BIM and Yildiz Holding's
financial unit Gozde Girisim said they each bought 11.5 percent
of three Ziylan group companies for 105.4 million lira ($52
** Fairholme Capital Management has proposed to buy the
insurance businesses of Fannie Mae and Freddie Mac
, a move that seeks to resolve the uncertain future of
the mortgage financiers by freeing them from U.S. government
** Khazanah Nasional Bhd, Malaysia's state
investment firm, said its insurance arm had completed the $252
million purchase of a 90 percent stake in Turkish insurer
Acibadem Saglik ve Hayat Sigorta.
** The Philippines' largest lender BDO Unibank Inc
said it had signed a definitive agreement for the acquisition of
Citibank's thrift bank unit in the country.
** Network equipment maker Riverbed Technology Inc
is currently not weighing a sale, two people with knowledge of
the matter said, denying a media report on Wednesday.