July 23, 2014 / 10:02 AM / 3 years ago

Deals of the day- Mergers and acquisitions

4 Min Read

(Adds Telecom Italia, Talisman Energy)

July 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** BCE Inc said it will pay C$3.95 billion ($3.68 billion) to take regional affiliate Bell Aliant private, securing access to its cash flow and bolstering BCE's position as Canada's largest telecom company.

** Telecom Italia SpA does not rule out combining its Brazilian unit with a local rival but that possibility is not on its agenda for now, Chief Executive Officer Marco Patuano said on Wednesday.

** Italian energy grid holding company CDP Reti will take on around 1.5 billion euros ($2 billion) in new debt ahead of an expected sale of a minority stake to China's State Grid Corp, two sources said, in a move that will lower the price tag for the deal.

** Japan's Itochu Corp and Sumitomo Corp want to sell their stakes in two Australian coal mines and a coal terminal they co-own with Glencore Plc, two people familiar with the matter said.

** State-backed British lender Royal Bank of Scotland is considering selling its Irish unit Ulster Bank to a private equity firm, the Irish Examiner reported, citing unnamed sources.

** Polish cable operator Vectra said on Wednesday that it had increased its bid for a 33 percent stake in telecommunication company Netia to 5.41 zlotys ($1.76) per share.

** Czech oil processing firm Unipetrol is not considering selling its Kralupy refinery to the Czech government, Chief Executive Marek Switajewski said.

** Copper producer Kazakhmys will transfer some of its less-profitable assets to a private company owned by two of its shareholders as the company is broken up in an attempt to improve its performance.

** Saudi Arabia's Savola Group has signed a non-binding agreement to sell its packaging business to Takween Advanced Industries, as it moves to focus on its core sectors of food and retailing, it said.

** JPMorgan Chase & Co is close to a deal to sell half its private equity business, One Equity Partners, the Wall Street Journal reported, citing people familiar with the matter.

** Talisman Energy Inc said it has been approached by Repsol, a day after a report that the Spanish oil producer was considering a bid for Canada's No. 5 oil company.

Talisman, which has a market capitalization of nearly C$11 billion ($10.2 billion), did not provide details, saying only it had been contacted by the Spanish firm "with regards to various transactions."

** Canadian dairy cooperative Agropur said on Tuesday that it would acquire the dairy processing assets of Davisco Foods International Inc.

** Mexican billionaire Carlos Slim's financial holding company Sociedad Inmobiliaria Carso will make an offer to buy the outstanding shares of real estate unit Inmuebles Carso .

** Medium-sized lender Philippine Bank of Communications said that businessman-retailer Lucio Co would buy more than a third of the bank for nearly 6 billion pesos ($139 million), the latest in a wave of mergers and acquisitions in the local banking sector. (Compiled by Ankit Ajmera and Lehar Maan in Bangalore)

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