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Deals of the day- Mergers and acquisitions
December 13, 2013 / 10:01 AM / 4 years ago

Deals of the day- Mergers and acquisitions

Dec 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Australia’s Queensland state government said it planned to auction off its Brisbane area toll roads - a sale that might raise more than $4 billion - to capitalize on strong demand for the country’s infrastructure assets.

** Ivory Coast plans to sell its stakes in 15 companies, including the national telecoms operator, banks, agribusiness and a gold mine, as part of a privatization drive aimed at easing the public debt load and increasing competition.

** Entergy Corp called off a $1.78 billion plan to divest its transmission operation to ITC Holdings Corp, three days after Mississippi regulators rejected the plan.

** Chilean drugmaker CFR Pharmaceuticals sweetened its cash and stock takeover offer for South Africa’s Adcock Ingram by 1.6 percent to 12.8 billion rand ($1.23 billion) on Friday in an attempt to fend off a rival bid from a local firm.

** Nationalized Austrian lender Hypo Alpe Adria got a green light for 800 million euros ($1.1 billion) in more state aid on Friday when its board approved issuing more non-voting shares that the state will buy within days.

** Restaurant and arcade chain Dave & Buster’s Inc is exploring a sale or initial public offering that could value the company at more than $1 billion, according to people familiar with the matter.

** U.S. insurer American International Group is in talks to sell its aircraft leasing business to AerCap Holdings NV, a person briefed on the discussions said.

** Hungary’s MOL has agreed to pay BASF $375 million for some North Sea oil and gas projects, adding a new region to its upstream business.

** India’s GMR Infrastructure Ltd said a deal to sell its 40 percent stake in Istanbul’s Sabiha Gokcen airport was in progress and not concluded yet, after a local newspaper reported it had sold the stake for 220 million euro ($303 million).

** India’s Torrent Pharmaceuticals Ltd agreed to buy branded formulations business of rival Elder Pharmaceuticals Ltd in India and Nepal for about 20 billion rupees ($324 million) to boost its market share.

** Charter Communications Inc is preparing to send an offer letter to acquire Time Warner Cable Inc as soon as next week, a source close to the matter said.

** Ailing Spanish fishing firm Pescanova is considering a non-binding takeover offer from a consortium that includes U.S. private equity firm KKR and shareholder Damm, a domestic brewer.

** Norway’s second- and third-biggest supermarket chains, Coop and Rema 1000, aim to merge their purchasing operations to lower costs, their chief executives said.

** Swedish industrial 3D printer maker Arcam is buying the metal powder division of Canada’s Raymor Industries for up to C$35 million ($33 million), in a move to secure supply to meet growing demand.

** The Portuguese government will likely relaunch the privatization of national airline TAP in the first quarter of 2014, Chief Executive Fernando Pinto said.

** EchoStar Corp and Vivendi’s Brazilian unit GVT said they had ended talks to set up a pay-TV venture in Brazil.

** The board of Italy’s Banca Etruria has decided as soon as possible to launch a process to merge with another bank, the mid-sized lender said.

** The co-founder of hedge fund firm Cube Capital is spinning out its real estate business into a new entity, in a move that Cube said will reassure investors it is focused solely on managing hedge funds.

** Freight-only airline Cargolux approved a cooperation deal with a group of Chinese investors, paving the way for the Luxembourg government to sell its 35 percent stake in the group.

** Simon Property Group Inc, the largest owner of U.S. malls and outlet centers, will spin off its strip malls and smaller shopping centers into a publicly traded REIT to focus solely on its larger retail properties.

** An Italian state-backed fund and private equity firm CCMP Capital are the leading candidates to buy a stake in fashion house Versace, sources familiar with the matter said.

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