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Deals of the day- Mergers and acquisitions
October 18, 2013 / 10:44 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Irving Oil, Banca Monte dei Paschi di Siena, SoftBank Corp, Motorola Solutions, Gecamines, Vinci Partners, Peugeot, NRG Energy. Updates Terna)

Oct 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** German utility RWE is asking potential buyers of its oil and gas unit DEA to submit offers by late December in a deal that could fetch up to 5 billion euros ($6.8 billion), three people familiar with the matter told Reuters.

** Peugeot’s talks on a 3 billion euro ($4.11 billion) French-backed tie-up with Dongfeng are progressing more slowly than the troubled carmaker had hoped, sources with knowledge of the matter said after negotiators returned from meetings in China.

** Power company NRG Energy Inc said it would pay $2.635 billion to acquire the assets of bankrupt unregulated power producer Edison Mission Energy, adding nearly 8,000 megawatts of electricity generation capacity to its business.

** German perfume-to-books group Douglas is nearing a deal to buy French perfume and cosmetics retailer Nocibe, Les Echos reported, citing sources close to the matter. Both companies, respectively owned by private equity firms Advent and Charterhouse, have agreed on an indicative price and financing, the French business daily wrote, suggesting a potential valuation for Nocibe of 500-550 million euros ($683-$752 million).

** Warrnambool Cheese and Butter Factory Co Holdings Ltd’s second-largest shareholder launched a A$420 million ($405 million) bid for the Australian dairy company, trumping two previous offers and fanning speculation it could command an even higher price.

** German generic drugmaker Stada agreed to purchase Aqualor-branded products for 131 million euros ($179 million) to boost its presence in the Russian market, the group said.

** Chinese conglomerate Shanghai Pengxin is poised to buy its second set of dairy farms in New Zealand, the world’s leading dairy produce export country, as China’s firms increasingly look overseas for sources of milk to meet growing demand at home. In a statement, the founders of Synlait Farms Ltd, who control 50.2 percent of the company, said they are committed to accept an offer from SFL Holdings that values the business at NZ$85.7 million ($72.9 million). SFL Holdings is majority owned by a subsidiary of Shanghai Pengxin.

** Bharti Airtel Ltd, India’s top telecommunications carrier, said it bought out Qualcomm Inc’s stake from a fourth-generation (4G) broadband joint venture in the country, taking full ownership of the business more than a year earlier than planned.

** Indonesia expects a deal on Monday to buy out the Japanese shareholders of PT Indonesia Asahan Aluminium (Inalum), a government minister said, avoiding a legal dispute and paving the way for the aluminum producer to be nationalized.

** Germany’s perfume and cosmetics retailer Douglas is nearing a deal to buy French peer Nocibe, said a source with knowledge of the transaction. The deal would make the German group the second-biggest perfume chain in France behind LVMH-owned Sephora and ahead of Marionnaud, which Nocibe currently trails.

** Bonmarche Holdings, the clothing retailer focused on women over 50, plans to list shares on London’s Alternative Investment Market (AIM), it said, less than two years after it was bought out of administration by a private equity firm.

** Italian Prime Minister Enrico Letta confirmed plans to sell a non-controlling stake of national electricity grid operator Terna, but said the amount to be offered had not been decided, a statement from his office said.

** Oil and gas company Occidental Petroleum Corp said it is looking to sell a minority stake in its Middle East and North Africa operations and will consider options for some Rocky Mountain assets.

** Irving Oil Ltd is in talks to purchase the Come By Chance oil refinery in Newfoundland, Canada, according to a local media report. The refinery is owned by South Korea’s state-run Korea National Oil Corp (KNOC), which earlier this year disclosed that it was considering selling ‘non-core parts’ of its loss-making Canadian energy subsidiary Harvest Operations and reviewing other overseas assets for potential sales.

** Canada has agreed to waive for European companies a longstanding requirement that buyers take on a Canadian partner in uranium mines, a move that may spur greater investment in developing the country’s rich uranium reserves.

** The Italian treasury denied a newspaper report that it had set an Oct. 29 deadline for the top investor in Banca Monte dei Paschi di Siena, the Monte dei Paschi foundation, to find a buyer for its 33.5 percent stake in the bank or be prepared to sell some of it on the market.

** Japan’s telecomms and Internet company SoftBank Corp said it agreed to pay $1.26 billion for a 57 percent stake in privately held cellphone distributor Brightstar Corp. After the deal SoftBank, which owns 80 percent of U.S. mobile operator Sprint Corp, said Brightstar would become the exclusive provider of handsets to some SoftBank affiliates.

** Motorola Solutions Inc is exploring the sale of its underperforming wireless LAN business, which has grappled with declining share in a market dominated by rivals such as Cisco Systems Inc, people familiar with the matter said.

** Congo’s government has issued state mining firm Gecamines a stern warning against a reported proposed sale of Gecamines’ 20 percent stake in Kamoto Copper Company (KCC), controlled by Glencore Xstrata, to Fleurette Group, a company controlled by Israeli investor Dan Gerter, without its approval.

** Brazilian private equity firm Vinci Partners said it is not involved in any deal to invest in tycoon Eike Batista’s troubled oil company OGX Petroleo e Gas Participações SA , according to a securities filing.

$1 = 1.04 Australian dollars $1 = 1.18 New Zealand dollars $1 = 0.73 euros Compiled by Sampad Patnaik

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