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Deals of the day -- mergers and acquisitions
July 18, 2013 / 10:17 AM / 4 years ago

Deals of the day -- mergers and acquisitions

July 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** Britain’s 3i Group Plc said on Thursday it had seen a pick-up in investment opportunities in the United States and northern Europe and said it would boost payouts to shareholders.

** Indonesian coal miner Bumi Plc set in motion the first part of a plan to separate from Indonesia’s Bakrie family, signing a $501 million agreement to sell a minority stake in Jakarta-listed Bumi Resources to the Bakries.

** Several large shareholders including Vanguard Group Inc and BlackRock Inc voted in favor of Michael Dell and Silver Lake’s deal to take PC maker Dell Inc private, but the proposal is still short of shareholder votes, a person familiar with the matter said.

** Home and auto insurer Allstate Corp said on Wednesday it would sell one of its life insurance businesses, Lincoln Benefit Life Co, to Resolution Life Holdings for $600 million.

** U.S. private equity company J.C. Flowers is in the final stages of negotiations to buy 450 million pounds ($682.8 million) of Northern Rock loans from the British government, the Times newspaper reported on Wednesday.

** Austria’s Erste Group Bank AG said it made net proceeds of about 632 million euros ($828 million) from a capital increase this month, in which its foundation cut its stake.

** British car dealer HR Owen Plc on Thursday rejected a 32.5 million pound ($49.3 million) takeover bid from Philippine investment group Berjaya Philippines Inc, saying the unacceptable offer undervalued the firm.

** Polish bank Pekao, controlled by Italian banking group Unicredit, has sold its Ukrainian subsidiary PJSC UniCredit Bank to Unicredit for $166 million, Pekao said late on Wednesday. ($1 = 0.6591 British pounds) ($1 = 0.7637 euros)

** Johnson Controls Inc posted a stronger-than-expected quarterly profit on Thursday and said it would sell part of its auto electronics business for about $700 million.

The sale of the HomeLink product line to Gentex Corp is expected to close around the end of September. Johnson Controls said it expects to announce the sale of the rest of the electronics business before its next earnings report.

** Private equity firm Bain Capital has agreed to buy a majority stake in British government-owned Plasma Resources UK (PRUK) for around 200 million pounds ($303.46 million), a source close to the deal said on Thursday.

** Shareholders at scandal-hit Italian lender Monte dei Paschi lifted ownership restrictions on Thursday in a bid to lure new investors and pay back state aid, potentially opening the way to a takeover of the world’s oldest bank.

** German beauty-to-books retailer Douglas said it had no plans in place to sell any of its units, contrary to a report in a German magazine.

** Italy plans to meet national and international investors after the summer to detail the sale of selected state assets as part of a strategy to cut its enormous debt, a top lawmaker told reporters on Thursday.

** Commercial Bank of Qatar (CBQ), the Gulf Arab state’s second-largest lender by assets, said on Thursday it had completed the purchase of a 70.84 percent stake in Turkey’s Alternatifbank.

** Myanmar’s government has signalled it could let foreign banks buy stakes in local lenders as it worries that resistance by domestic banks to joint ventures could hamper plans to attract investment and rebuild the financial system.

** Top U.S. paint maker Sherwin Williams Co said on Thursday Mexico’s competition watchdog did not authorize its $2.34 billion purchase of Mexican paint company Consorcio Comex.

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