UPDATE 1-Deals of the day -- mergers and acquisitions
** KDB Financial Group, the parent company of state-owned Korea Development Bank, is looking at potential acquisition targets at home and abroad, said its CEO, who sees the domestic banking sector facing a shake-up next year. [nP350795]
** Baring Private Equity Asia has hired Swiss bank UBS (UBSN.VX) (UBS.N) to advise on the sale of its Malaysian portfolio company Courts Mammoth, in a deal that may fetch $300 million, sources said. [nHKG122044]
** Goldman Sachs Group Inc (GS.N) is in talks to buy millions of dollars of tax credits from Fannie Mae (FNM.N), but the U.S. Treasury could block the deal, The Wall Street Journal reported. [nN01413875]
** The UK government will unveil plans this week to spend 30 billion pounds ($49.3 billion) buying further shares of rescued banks Royal Bank of Scotland (RBS.L) and Lloyds (LLOY.L), The Daily Telegraph newspaper reported. [nSP1641]
** Royal Bank of Scotland (RBS.L) is close to agreeing more flexible terms on a government insurance scheme for bad debts, in a deal that will include asset sales to appease EU antitrust concerns, sources close to the deal said. [nLV80446]
** AngloGold Ashanti (ANGJ.J) and Ranggold said they had entered into an agreement with Congo's state owned OKIMO to buy a stake in Moto Goldmines for $113.6 million. [nLV103241]
** German retailer Metro (MEOG.DE) is increasingly losing interest in acquiring the stores of Karstadt, the department store unit of insolvent Arcandor (AROG.DE), a German newspaper said on Sunday, citing sources. [nL0185680]
** Denbury Resources Inc (DNR.N) has agreed to buy Encore Acquisition Co (EAC.N) for $3.2 billion to create one of North America's largest oil production and exploration companies.
** Fertilizer maker CF Industries Holdings Inc (CF.N) edged up its hostile offer for smaller rival Terra Industries (TRA.N), removing what has been seen as a major obstacle for the bid by boosting the cash portion. [ID:nN01407402]
** Air China (601111.SS) (0753.HK) will hold 51 percent of a cargo venture with Cathay Pacific (0293.HK) which it hopes to finalise in the first half of next year, a Chinese airline executive said. [ID:nSHA115625]
** Partner Communications (PTNR.O), Israel's second largest mobile phone operator, said it might be interested in buying 012 Smile's (SMLC.O) operations following the Internet service provider's acquisition of Bezeq Israel Telecom (BEZQ.TA). [ID:nL1175784]
** Origin Energy Ltd will expand its presence in the east coastenergy market by acquiring Woodside Petroleum Ltd's controlling stake in the Otway gas joint venture in Victoria for $712.5 million. [ID:nAAp54526a] (Compiled by Shobhana Chadha in Bangalore and Tina Kwan in Singapore)
