April 17, 2014 / 10:21 AM / 4 years ago

Deals of the day- Mergers and acquisitions

(Adds Athasbasca, America Movil, Barnes & Noble; Updates Etihad Airways, Post Holdings)

April 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1600 GMT on Thursday:

** Standard Chartered’s planned sale of its Hong Kong consumer finance unit has drawn first-round bids from suitors like Carlyle Group and Bain Capital, lured by the unit’s industry-beating returns, people familiar with the matter said.

** Troubled UK insurer RSA has sold the bulk of its eastern European operations to Poland’s state-controlled group PZU for some 360 million euros ($500 million), the Polish firm’s biggest deal and RSA’s first to be done under its financial restructuring plan.

** Chemtura Corp struck a deal to sell its agrichemicals business to rival Platform Specialty Products Corp for about $1 billion as it transforms itself into a pure-play industrial specialty chemical company.

** Athasbasca Oil Corp said on Thursday it has exercised an option to sell its 40 percent stake in the planned Dover oil sands project to its partner PetroChina Co for C$1.32 billion ($1.20 billion) after the project received final approvals from the government of Alberta.

** The Portuguese government gave the go-ahead on Thursday for a sale of its remaining 11-percent stake in power grid operator REN via a share offering open to retail and institutional investors.

** South African financial services group Alexander Forbes said on Thursday it received expressions of interest from several different parties interested in acquiring it.

** Nationalized Austrian lender Hypo Alpe Adria expects to get no more than half a billion euros ($690 million) for its Balkans network in a deal that could wrap up by year’s end, Chief Executive Alexander Picker said on Thursday.

** An agreement between Carlos Slim’s America Movil and the Austrian government to take joint ownership of Telekom Austria is likely to be agreed next week despite a public war of words that broke out on Friday.

** Israeli conglomerate Delek Group said on Thursday its subsidiary Delek Europe Holdings signed a memorandum of understanding to sell Delek Europe BV to a foreign fund for 355 million euros ($490.1 million).

** Barnes & Noble Inc Chairman Leonard Riggio, the bookseller’s founder and largest shareholder, cut his stake in the company to 20 percent by selling shares worth about $64 million.

** Two prominent proxy advisers have split on whether shareholders should vote to maintain Augusta Resource Corp’s shareholder rights plan, which could thwart a hostile takeover bid from larger Canadian base metals miner HudBay Minerals Inc.

** Cereal maker Post Holdings Inc is close to a deal to acquire eggs and dairy producer and distributor Michael Foods Group Inc for $2.5 billion, prevailing over a rival bid from Tyson Foods Inc, said a person familiar with the matter.

** Etihad Airways has toughened its stance on conditions for investing in Italy’s struggling Alitalia in continuing negotiations between the airlines, sources close to the matter said on Thursday.

** India’s Piramal Enterprises Ltd said it agreed to buy a 20 percent stake in unlisted Shriram Capital Ltd for 20.14 billion rupees ($334 million), increasing its foothold in the financial services sector.

** Morocco’s government has sold its remaining 6 percent stake in lender Banque Centrale Populaire S.A (BCP), the finance ministry said on Thursday.

** Australian developer Meriton Group is considering a A$3 billion ($2.8 billion) offer from a Chinese developer for half its apartment business, according to a media report, highlighting increasing Chinese interest in Australia’s housing market.

** Discovery Communications has dropped out of bidding to buy Britain’s free-to-air Channel 5, according to two sources familiar with the matter. ($1 = 0.73 Euros) ($1 = 1.07 Australian dollars) ($1 = 1.10 Canadian dollars) ($1 = 60.29 Indian rupees)

Compiled by Neha Dimri and Shubhankar Chakravorty in Bangalore

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