March 6, 2014 / 10:20 AM / 4 years ago

Deals of the day- Mergers and acquisitions

March 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Thursday:

** Morgan Stanley has sold its majority stake in Accelerate Acquisitions, the parent company of British car provider Zenith, to UK private equity fund HgCapital for 3.8 times its original investment.

** Japan’s government will sell 26 million shares of Japan’s largest phone company, Nippon Telegraph and Telephone Corp , back to the firm for 153 billion yen ($1.5 billion), the finance ministry said, as part of its planned funding for a stimulus package approved in December.

** Construction-to-media conglomerate Bouygues made an offer to buy larger telecom rival SFR, which would involve steeper regulatory risks and a slower pay-off for the seller Vivendi than a competing offer from Numericable . Bouygues faces a tougher battle to get its hands on SFR because merging the number two and three mobile operators would attract tough regulatory scrutiny - a handicap Numericable would not face since it is not a force in mobile.

** Spain’s Savera Group, which earns most of its revenue in China, is seeking a buyer for about 70 percent of itself, in a sale valuing the company at up to $500 million, people familiar with the matter told Reuters. The maker of tracks used to guide elevators is working with financial adviser Business Development Asia, who has sent sales documents to potential buyers including Carlyle Group and TPG Capital Management, the people said.

** The top investor in Italy’s third biggest lender, Banca Monte dei Paschi di Siena, denied on Thursday press reports that it had sold a stake of at least 8 percent in the bank the previous day.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below