February 27, 2014 / 10:16 AM / 4 years ago

Deals of the day- Mergers and acquisitions

Feb 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** General Electric Co is preparing to sell its energy unit that makes fuel dispensers in a deal that is expected to fetch more than $500 million, people familiar with the matter said on Thursday.

** A consortium involving two Maori tribes will bid against private equity giant Carlyle Group Ltd for Transpacific Industries Group Ltd’s New Zealand waste management business, a deal expected to fetch NZ$1 billion ($830 million), a person involved in the bid told Reuters.

** Bayer AG said it would buy privately held Dihon Pharmaceutical Group Co, a maker of traditional herbal Chinese medicines, as the German drugmaker pushes to become the world’s largest non-prescription medicines group.

** Spain’s Acciona SA is looking for a buyer of a minority stake in its international renewable energy portfolio, which has revenues of about 500 million euros ($683.35 million), the company said on Thursday.

** Spain’s government has started to sell some of its shares in nationalised lender Bankia with an initial offer to investors of shares amounting to a 7.5 percent stake, investment bank UBS said in a statement on Thursday. Bankia shares closed on Thursday at 1.58 euros per share, implying a valuation of 1.365 billion euros for the stake.

** European private equity fund Permira said on Thursday it had agreed to buy investment manager Tilney from Deutsche Bank AG as it looks to create a wealth manager with 9 billion pounds ($15 billion) of assets.

** Japan’s Osaka Gas Co and Chubu Electric Power Co said each plans to invest about $600 million for individual stakes of 25 percent in a gas export facility at the Freeport LNG gas project in Texas.

** Saudi Arabia’s government plans to sell a 15 percent stake in National Commercial Bank (NCB), the country’s largest lender by assets, in an initial public offer that would be the kingdom’s first bank IPO since 2008.

** Turkey is likely to start ordering F-35 fighter jets built by Lockheed Martin Corp from 2015 onwards and it will start with two orders initially, Turkey’s undersecretary for state-run defense industries Murad Bayar said on Thursday.

** Essilor International will buy Coastal Contacts Inc , a digital retailer of eyeglasses and contact lenses, for C$430 million ($387 million), Coastal said.

** Copper miner Kazakhmys plans to sell off less-profitable mines to its biggest shareholder Vladimir Kim to focus on lower-cost, open-pit mines and growth projects, sending its shares up by more than 30 percent on Thursday.

** U.S. private equity firm Blackstone Group LP signed an agreement to take a 20 percent stake in Italian fashion house Versace, in a deal worth 210 million euros ($287 million), a person close to the matter said.

** Chinese Internet company Baidu Inc is poised to make more acquisitions this year to entice smartphone users to tap into its services, a strategy that will put it on a collision course with bigger rivals like Tencent Holdings Ltd .

** Italy’s Aeroporti Holding has agreed to sell its 33.4 percent stake in Florence airport operator Aeroporto di Firenze to Argentine-controlled Cedicor.

** Light Tower Rentals, which provides rental equipment and services to the oil field industry, is exploring a sale that may fetch around $700 million, according to people familiar with the matter.

** State-run Korea Gas Corp said it had decided not to sell its stake in Australia’s $18.5 billion Gladstone LNG project.

** Robert Friedland’s High Power Exploration said it would buy a stake in copper prospector Apollo Minerals, marking a further inroad by the mining entrepreneur into Australia’s small-cap resources sector.

** HSBC said it is talks to sell its business in Pakistan to Meezan Bank Limited, another possible sale by Europe’s biggest bank from countries where it is unprofitable or lacks scale.

** Standard Life could move parts of its business away from Scotland if Scots vote for independence, to protect the company’s competitive position.

** Yuanta Financial Holdings Co, the parent of Taiwan’s biggest brokerage, has won a bid for a stake of 27.06 percent in South Korea’s Tongyang Securities Inc as it expands its footprint overseas, a company official said.

** China’s COFCO Corp is in advanced talks to buy a stake in Dutch grain trader Nidera, people familiar with the matter said on Thursday, in a move that would help the world’s most populous country secure food supplies.

** UDG Healthcare Plc said it acquired KnowledgePoint360’s healthcare communications business for $144 million in cash to expand in the United States and Europe.

** Hochtief is in talks with investors regarding its strategic options on units Formart, HTP and Hochtief Property Management, Chief Executive Marcelino Fernandes Verdes told reporters.

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