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Deals of the day -- mergers and acquisitions
July 19, 2013 / 8:01 PM / 4 years ago

Deals of the day -- mergers and acquisitions

July 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Qihoo 360 Technology Co Ltd said it is in early talks with Inc to buy its Sogou search engine, a deal estimated to be worth up to $1.4 billion and which would help the upstart command a quarter of China’s search market.

** Buyout firm GTCR LLC is exploring a potential sale of Six3 Systems Inc, which provides intelligence services to national security and defense agencies, and hopes to fetch as much as $1 billion, four people familiar with the matter said.

** Italian steel producer Arvedi Group is interested in leasing the iron and coke producing unit in Trieste of the country’s second-largest steelmaker, Lucchini, and may subsequently buy the plant, Arvedi said.

** Private equity firm Cinven has agreed to buy internet domain and hosting company Host Europe Group from Montagu Private Equity for 438 million pounds ($666 million), the two buyout houses said.

** Malaysian plantation firm Felda Global Ventures Holdings Bhd has offered to pay 1.21 billion ringgit ($378.84 million) for an unlisted planter, as it seeks to boost land assets and palm oil output after its listing last year.

** Australia’s takeover regulator declined a request from Oaktree Capital Management and Centerbridge Partners to delay a $359 million refinancing deal for surfwear company Billabong International Ltd on anti-trust concerns.

** Germany’s CropEnergies AG said it had acquired UK bioethanol producer Ensus Limited from funds affiliated to the Carlyle Group.

** U.S.-based investor Kawa plans to buy most of Conergy AG’s global sales operations, the German solar group said, two weeks after it filed for insolvency.

Kawa intends to acquire two of Conergy’s German entities -- Conergy Deutschland GmbH and Conergy Services GmbH -- as well as subsidiaries in North America, Singapore, Thailand, Australia, Spain, Italy, France, Greece, Cyprus and Britain.

** Philippine conglomerate San Miguel Corp said it had sold a portion of its 32.8 percent stake in Manila Electric Co at 270 pesos per share to raise 17.4 billion pesos ($400 million).

** Italy aims to extract value from shareholdings in companies including oil group Eni SpA, aerospace and defence group Finmeccanica SpA and energy group Enel SpA but is cautious about a possible sale of the stakes, a finance ministry spokesman said on Friday.

** Private equity firm Astorg Partners is considering refinancing debt in its leading French funeral firm OGF and paying itself a dividend as an alternative to a sale process which is still ongoing, banking sources said.

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