(Adds Orange, Gulf Capital, CVC Capital)
March 25 The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on Tuesday:
** Royal Bank of Scotland has had contact regarding
the possible sale of its U.S. retail business Citizens with
Sumitomo Mitsui Financial Group while Mitsubishi UFJ
Financial Group has also considered a bid, people with
knowledge of the matter said.
** The Walt Disney Co has agreed to buy Maker
Studios, one of YouTube's largest networks, for $500 million, a
deal that makes Disney a major online video distributor and
should help draw more teens into the Disney entertainment
** F&C Asset Management's shareholders have voted
in favour of a 708 million pound ($1.17 billion) takeover by
Canada's Bank of Montreal, ending talk of a potential
** Italian power network company Terna is turning
its attention to acquisitions abroad as it cuts spending on
Italy's domestic grid, signaling investments in big projects at
home could be on the wane.
** The Canada Pension Plan Investment Board said on Tuesday
that it would invest $250 million in the Chinese real estate
market through a new venture with China Vanke Co Ltd
, the nation's largest residential developer.
** Coal miner Asia Resource Minerals has completed
a long-awaited separation from its co-founding Bakrie family and
is now in a position to return $400 million to shareholders, the
company said on Tuesday.
** Lufthansa Cargo, the air freight arm of Germany's largest
airline, aims to set up a partnership with an airline
outside of the Lufthansa Group by the middle of this year ahead
of further cooperation deals, it said on Tuesday.
** Australia and New Zealand Banking Group Ltd,
Australia's third-biggest lender, is keen to exit its holding in
Cambodia and will look at wholly owned business models wherever
** British insurer Aviva Plc agreed to sell its
Turkish unit Aviva Sigorta to venture fund EMF
Capital Partners, the Turkish company said on Tuesday.
** Saudi Arabia's Hanco and Bahrain's Venture Capital Bank
have bought Byrne Investments for around 600 million dirhams
($163 million), the Riyadh-based car rental company said on
** Sacombank, Vietnam's ninth-biggest bank by
assets, will merge with smaller local lender Southern Bank,
following shareholders' approval, Sacombank said on Tuesday.
** Britain's Centrica and its consortium partners
said on Tuesday they would buy the retail arm and other assets
of Ireland's state-owned Bord Gais for 1.1 billion euros ($1.52
billion), helping the utility expand abroad as it is losing
customers at home.
** South African food company Tiger Brands has
dropped plans to acquire Kenyan firms Rafiki Millers and Magic
Oven Bakeries, the firm said on Tuesday, terminating deals worth
at least $25 million.
** Britain's Kingfisher is exiting its investment in
German home improvement store operator Hornbach,
which will increase the free float of its listed preference
shares to 100 percent, the Hornbach family said in a statement
** Luxottica, the maker of Ray-Ban sunglasses, has
struck a deal to design, develop and distribute glasses based on
Google's Internet-connected Glass eyewear, potentially
bringing the new technology to a wider market.
** The Middle East unit of New York-based investment manager
PineBridge Investments said it had bought a 50 percent stake in
a Turkish physical therapy and rehabilitation services chain,
and would help the company expand internationally.
** China Life Insurance Co Ltd and its parent
China Life Insurance (Group) Co will inject 7 billion yuan into
the firm's property and casualty insurance subsidiary, according
to an exchange filing in Hong Kong on Tuesday.
** Swiss bank Julius Baer has raised its bet on
Latin America's largest wealth management market, buying a
majority stake in Brazil's GPS for an estimated 100 million
Swiss francs ($113 million), as part of a drive to expand
** Abu Dhabi-based private equity firm Gulf Capital plans to
sell its remaining 49.7 percent stake in Gulf Marine Services
within two years, Chief Executive Karim El Solh said on
** French telecoms group Orange has hired Bank of
America Merrill Lynch as an adviser on its strategy in
Spain, including the possible acquisition of smaller competitor
Jazztel, two sources with knowledge of the matter said
** Private equity firm CVC Capital Partners has
bought eyewear chain Synsam Nordic from Alipes, the investment
firm controlled by Sweden's Kamprad family which also controls
the world's largest furniture retailer IKEA, CVC said
on Tuesday. CVC did not disclose how much it paid for Synsam.
** The embattled Washington law and lobbying firm Patton
Boggs has signed a letter of intent to merge with the larger
Squire Sanders, according to three sources familiar with the
matter. Patton Boggs leaders projected that any deal would take
place before the end of April, two of the sources said.
($1 = 0.73 euros)
($1 = 0.88 Swiss francs)
($1 = 0.61 British pounds)
(Compiled by Neha Dimri and Sampad Patnaik in Bangalore)