(Adds Lorillard, UBS, T-Hrvatski Telekom, MMX, Melrose,
July 3 The following bids, mergers, acquisitions
and disposals were reported by 1700 GMT on Thursday:
** Tobacco majors Lorillard Inc and Reynolds American
Inc are likely to merge as early as end of July, CNBC
reported, citing sources. Reuters, in May, exclusively reported
that Reynolds American was in active discussions to buy
Lorillard in a complicated, three-way transaction that could see
British American Tobacco PLC take a major role to back
a potential merger.
** Investment bank UBS said on Thursday it was
selling around 3 percent of Spanish steel maker Acerinox
to institutional investors via an accelerated
** Czech oil processing group Unipetrol will take
full control of the Czech refining sector after it buys the
stake of Italy's ENI in their joint refining firm Ceska
Rafinerska, Unipetrol said on Thursday.
** Croatia's privatization agency CERP plans to sell 3.49
percent of T-Hrvatski Telekom, the biggest local telecom
operator said in a bourse filing on Thursday.
** Brazil's MMX said late on Wednesday that it approved the
lease and possible sale of its Corumba, high-grade iron ore
unit, part of efforts to raise cash and restructure the troubled
mining company controlled by Brazilian tycoon Eike Batista.
** Engineering turnaround specialist Melrose Industries Plc
signaled it could sell its Elster Water business, a
maker of water consumption meters, as it scouts for its next big
** India's new government is likely to sell a 5 percent
stake in state-run Steel Authority of India Ltd in the
last week of this month, people directly involved in the process
said, kicking off what is set to be a busy divestment schedule.
** Activist hedge fund Jana Partners LLC said it planned to
ask PetSmart Inc to explore a sale. Jana Partners
reported a 9.9 percent stake in the company in a regulatory
filing and said it expected to hold discussions with PetSmart's
management and board, shareholders and other interested parties.
** AbbVie Inc Chief Executive Richard Gonzalez has
pressed the case for his $46 billion pursuit of drugmaker Shire
Plc in discreet meetings with shareholders in London
this week and is now weighing his next move, according to people
familiar with the matter.
** Ousted American Apparel Inc Chief Executive Dov
Charney has handed over his entire stake and voting rights in
the struggling retailer to Standard General LP, enabling the
fund to negotiate directly with the independent directors over
the company's future, two sources close to the matter said on
** Mediaset Espana has agreed to sell its 22
percent stake in pay-TV firm Canal+ to Telefonica,
Spanish media reported on Thursday, giving full ownership of the
TV firm to the telecoms group.
** Nigeria's FBN Insurance on Thursday said it would launch
a bid next week to buy out the 28.8 percent minority stake in
Oasis Insurance that it does not already own, in a
deal valued at 1.03 billion naira ($6.34 million).
** Global private equity firm TPG Capital is buying a stake
in Hong Kong-based hedge fund sponsor HS Group Ltd (HSG) and
establishing a strategic relationship with the company, HSG said
in a statement on Thursday.
** Japan's Mitsubishi Electric has agreed to take
the first step towards a partnership with European missile maker
MBDA to develop a medium-range air-to-air missile for the F-35
stealth fighter, two people with knowledge of the matter said.
** Italian cement maker Italcementi said on
Thursday it had bought more than 95 percent of shares capital of
Ciments Francais, reaching the threshold for the
squeeze-out of minorities at its French unit.
** Volkswagen denied planning a bid for U.S.
truck maker Paccar after analysts published comments in
a research note from a senior executive of German rival Daimler
saying he had heard of such a plan. According to
Bernstein Research, Daimler Trucks Chief Wolfgang Bernhard
insisted that "serious, multiple sources" informed him that VW
was going to bid for Paccar in 2015.
** Outgoing Slovenian Prime Minister Alenka Bratusek said on
Thursday she planned to stop all privatizations until a new
government was formed after the July 13 snap election. State
investment firm SDH is in charge of selling 15 firms that were
earmarked for sale last year and include the second largest bank
Nova KBM and airport operator Aerodrom Ljubljana.
Europe's biggest construction and concessions company, Vinci
, had said on Thursday that it was bidding to buy the
Slovenian airport operator.
** Hungary's government plans to make further acquisitions
in the energy sector and is also in advanced talks to buy
Bombardier Inc's stake in Hungarian rail
transportation firm Bombardier MAV Kft, the development minister
said on Thursday.
** Fiat SpA said late on Wednesday it had called a
shareholder meeting on Aug. 1 to approve the merger between the
Italian carmaker and its U.S. unit Chrysler.
** RSA Insurance Group Plc has reached an agreement
to sell its business in China for 71 million pounds ($119
million), one of several smaller asset sales aimed at shoring up
the British company's finances.
** Lululemon Athletica Inc founder Dennis Wilson's
advisers have been talking to private equity firms including
Leonard Green & Partners to find out if they are interested in
buying the fashionable yoga gear maker, the Wall Street Journal
reported citing people familiar with the matter.
** Japan's Dai-ichi Life Insurance Co Ltd will
issue up to 275.9 billion yen ($2.7 billion) in new shares to
help fund its planned acquisition of U.S. peer Protective Life
, according to a regulatory filing with the finance
** German retailer Metro AG is no longer ruling
out selling its stake in Media-Saturn Holding to the electronics
chain's founder Erich Kellerhals, a newspaper reported on
Thursday, citing a senior Metro executive.
** German sports-car maker Porsche said on
Thursday it raised its stake in engineering company Bertrandt AG
to about 29 percent.
** Swedish center-right government will in coming months
unveil a new list of additional state-owned holdings in
companies it will seek to sell during a possible third term in
office, Finance Markets Minister Peter Norman said on Wednesday.
** Turkish Islamic lender Bank Asya said on
Thursday reports that exclusive talks had ended with Qatar
Islamic Bank over acquiring a stake in the Turkish
lender did not reflect the truth.
** Zurich Insurance Group AG said it would take a
hit of around $300 million to net income after selling its
Russian retail business to the OLMA Group, part of the insurer's
strategy to shed underperforming units.
** Indonesian coal miner PT Bumi Resources Tbk has
transferred a 19 percent stake worth $950 million in its unit,
Kaltim Prima Coal, to China Investment Corp as part of its debt
repayment to the sovereign wealth fund.
** Privately held Weinstein Company is looking to spin off
its television division into a separate company, seven months
after the film studio decided to expand that business, the New
York Times reported.
** Occidental Petroleum Corp has failed to sell a
stake in its Middle East business and now plans to sell some
assets piece by piece, Bloomberg reported on Wednesday, citing
people with knowledge of the matter.
** Russia's Rosneft has submitted details of a
deal to buy an oil trading unit of Morgan Stanley to a
confidential U.S. committee that evaluates national security
risks, the Wall Street Journal reported, citing a source
familiar with the matter.
** Commercial real estate broker BR Properties SA
sold a stake in a real estate investment trust managed by
investment banking firm Grupo BTG Pactual SA for
418.6 million reais ($188 million), according to a securities
filing on Wednesday.
** State-run Caixa Economica Federal, Brazil's largest
mortgage lender, is considering selling a pool of distressed
consumer loans to investors, the first step in a broader plan to
get rid of bad loans and free up capital, a source said on
Wednesday. About 3 billion reais ($1.35 billion) worth of
defaulted loans could be sold to funds that specialize in
dealing with distressed assets, the source said.
($1 = 2.22 Brazilian reais)
(Compiled by Rohit T.K. in Bangalore)