July 24, 2014 / 10:21 AM / 3 years ago

Deals of the day- Mergers and acquisitions

8 Min Read

(Adds Balfour Beatty, Zillow, PSA Peugeot Citroen, BayernLB Holding, Repsol, Interpublic Group of Cos)

July 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Breitburn Energy Partners LP agreed to buy QR Energy LP for $1.46 billion in a deal to create one of the largest U.S. oil producers structured as a master limited partnership.

** Two of Britain's biggest construction firms, Balfour Beatty PLC and Carillion Plc are in detailed discussions for a 3 billion pound ($5.09 billion) merger, Sky News reported citing sources. The news service said that if successfully completed, the deal would put the merged group on course for entry into the FTSE-100 index.

** U.S. real estate website operator Zillow Inc is seeking to buy rival Trulia Inc, Bloomberg reported, citing people with knowledge of the matter. Zillow could value Trulia at as much as $2 billion and an agreement may be announced as soon as next week, Bloomberg said.

** PSA Peugeot Citroen and Fiat Chrysler denied a Financial Times report on Thursday that the companies were preparing a merger to create the world's fifth-largest carmaker. [InL6N0PZ614

** France's BioAlliance Pharma SA and Denmark's Topotarget, both producers of rare cancer drugs, said they would list as one company called Onxeo on the NASDAQ OMX Copenhagen exchange as of Aug. 1 following their merger.

** German state-backed lender BayernLB Holding AG is selling its Hungarian MKB unit to that country's government, ending an ill-fated investment that has cost it a total of 2 billion euros ($2.7 billion) in losses over the last 20 years.

** Sharp Corp said on Thursday it would pull out of solar cell production in Europe, handing its share of joint venture 3Sun to partner Enel Green Power SpA, a subsidiary of Italian utility Enel SpA.

The Japanese electronics company said it would sell its 33.3 percent stake for a token 1 euro ($1.35) as soon as it receives approval from 3Sun's lenders, while STMicroelectronics NV will also sell its third stake to Enel Green Power, making 3Sun a wholly owned subsidiary of the Italian firm.

** Spain's Repsol SA will return cash to shareholders if it fails to identify a company or assets that meets its acquisition goals, Chief Financial Officer Miguel Martinez said on a conference call on Thursday.

** Italy's plans to sell a stake in its energy grid holding company to China's State Grid Corp will not affect the strategy or international expansion of power grid Terna Rete Elettrica Nazion, its CEO said on Thursday.

State Grid Corp of China is in advanced talks with Italy's investment agency Cassa Depositi e Prestiti (CDP) to buy a 35 percent stake in its network holding company CDP Reti in a deal that could be worth some two billion euros.

** Global trader Louis Dreyfus Commodities has left a joint venture operating palm oil plantations in Indonesia after an investment review, the company said on Thursday.

Its Louis Dreyfus Commodities Asia Pte unit quit the Green Eagle Plantations Pte Ltd (GEP) venture, which Louis Dreyfus formed in 2011 with Indonesian conglomerate Rajawali Corp.

** A group of Chinese investors is in talks with the bankruptcy estate of Icelandic bank Islandsbanki, which was previously known as Glitnir and failed in 2008, over buying a stake in the up-for-sale bank, a finance ministry source said on Thursday.

** Vitol SA and the Carlyle Group's joint venture Varo Energy has bought French oil company Total SA's Swiss diesel and heating oil storage and distribution businesses, the company said on Thursday.

** Europe's second-largest fertilizer maker, Poland's Grupa Azoty, plans to tap banks for 2 billion zlotys ($652 million) in debt to finance takeovers abroad, Azoty's chief executive said.

Poland forged Grupa Azoty by combining several state-controlled players into a company with a market value of over $2.5 billion. The group wants to broaden its presence abroad, now centered on Germany and Senegal.

** Activist hedge fund Elliott Management has taken a 6.7 percent stake, worth about $570 million, in advertising firm Interpublic Group of Cos Inc, setting up a showdown that could result in a sale.

** U.S. cable group Liberty Global PLC has offered to sell its pay TV channel Film1 in an attempt to win EU antitrust approval for its proposed acquisition of Dutch rival Ziggo NV, a person familiar with the matter said on Thursday.

** Private equity firm Advent International and a Bulgarian-Russian consortium led by businessman Denis Barekov are favorites to buy Hypo Alpe Adria's Balkan bank network, two sources familiar with the process said.

** Asset manager Legg Mason Inc said it would buy UK-based international equity specialist firm Martin Currie, continuing an effort to revamp its business.

** An Italian Senate committee approved an amendment to Italian company law on Thursday, paving the way for a possible lowering of the ownership threshold at which a shareholder is compelled to launch a full takeover bid.

** Spanish media group Prisa said on Thursday it had sold an 8.5 percent stake in peer Mediaset Espana back to Mediaset Espana for 307.5 million euros ($414 million) or 8.892 euros per share.

** Britain's BG Group is considering selling its largest operations in the North Sea for about 1 billion pounds ($1.70 billion), The Times reported on Thursday.

** An Abu Dhabi-led consortium is pulling out of a $1.6 billion deal to buy two hydroelectric power plants from Jaiprakash Power Ventures Ltd, dealing a blow to the Indian group's efforts to cut its debt.

** Japan's Itochu Corp entered into a $1 billion tie-up with Thai billionaire Dhanin Chearavanont's Charoen Pokphand Group (CP) to target rising demand for meat and livestock products in China and other parts of Asia.

** Dassault Systemes is to buy business planning software company Quintiq, its second acquisition this month, taking the French management solutions company into the metals, mining, oil and gas, rail delivery and freight industries for the first time. Dassault said it would pay about 250 million euros ($336 million) in cash for Netherlands- and U.S.- based, privately-held Quintiq, which is majority owned by its senior management team.

** France's Lafarge said it was selling its cement business in Pakistan for an enterprise value of $329 million to Karachi-listed BestWay Cement.

** AT&T Inc and the Chernin Group are close to buying a majority slice of Fullscreen, in a deal that will value the popular YouTube video network at $200 million to $300 million, said tech blog Re/code, citing sources familiar with the target company.

** Almost 20 companies have submitted non-binding expressions of interest in Cyprus Airways, a state-owned carrier that the government wants to privative, Cypriot Communications Minister Marios Demetriades said on Thursday.

Aegean Airlines SA, Ryanair Holdings PLC and Israel's Arkia were among those firms, Demetriades told Reuters.

** United Arab Emirates-based National Bank of Ras Al Khaimah (RAKBANK) is looking to acquire a majority stake in Ras Al Khaimah National Insurance Co, the lender said on Thursday.

** BHP Billiton Plc and Anglo American Plc are looking to sell their jointly owned manganese assets portfolio in South Africa and Australia, the Wall Street Journal reported, citing people familiar with the matter. ($1 = 0.59 British pounds) ($1 = 0.74 euros) ($1 = 31.82 Thai baht) (Compiled by Ankit Ajmera and Lehar Maan in Bangalore)

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