August 29, 2012 / 10:06 AM / 5 years ago

Deals of the day -- mergers and acquisitions

Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Canada is now formally reviewing CNOOC Ltd’s $15.1 billion takeover bid for Canadian oil firm Nexen Inc , industry minister Christian Paradis said on Wednesday.

** Private equity firm KKR & Co LP is in talks to invest about 100 billion yen ($1.3 billion) for control of Japan’s Renesas Electronics Corp, sources said, offering a lifeline to the struggling chipmaker.

** ING Groep NV is exploring a separate sale of its roughly $1 billion Hong Kong insurance business, sources said, a move that could further complicate the auction of its Asian operations.

** Closeout retailer Ollie’s Bargain Outlet, known for its signature catch phrase “good stuff cheap,” said on Tuesday that private equity firm CCMP Capital Advisors LLC would acquire a stake in the company alongside current management.

Terms of the deal as well as the size of the equity stake were not disclosed, although sources familiar with the transaction have pegged its value at around $500 million.

** Checkers Drive-In Restaurants Inc, a drive-through hamburger chain that could be worth more than $300 million, is being put up for sale by its private equity owner, according to two sources with direct knowledge of the situation.

** Injectable generic drugs maker Hospira Inc said it plans to buy a factory and a research center from India-based Orchid Chemicals & Pharmaceuticals Ltd ORCD.NS for $200 million.

** Syngenta AG said it would buy DuPont’s professional products insecticide business for $125 million in cash to expand the Swiss company’s range of pest-control products.

** Turkish airports operator TAV Havalimanlari Holding said on Wednesday it had agreed to purchase the remaining 35 percent of its Havas ground handling services unit for 80 million euros ($100 mln).

** Hungary’s Magyar Telekom will sell its 100 percent-owned radio network operator Pro-M Zrt. for 19.9 billion forints ($88.9 million) at the end of August, the company said in a statement on Wednesday.

** Creditors of insolvent German solar company Q-Cells have approved a takeover offer by South Korean group Hanwha, a bid that was challenged earlier this week by Spanish firm Isofoton, a Q-Cells spokesman said on Wednesday.

** Manulife Financial Corp, Canada’s largest life insurer, said on Wednesday it acquired the mutual fund dealership of financial planning firm Welling West Financial Services from National Bank of Canada, the nation’s No. 6 bank.

** Irish foods group Glanbia Plc is proposing to sell 60 percent of its domestic dairy to its largest shareholder, in a shift of focus towards its U.S. cheese and international nutritionals businesses.

** Piraeus Bank is in talks to buy Societe Generale’s Greek unit Geniki, as Greece’s battered banks consolidate in an attempt to cope with the country’s debt crisis.

** Pizza delivery firm Domino’s Pizza UK said it planned to expand further into Europe, acquiring 12 Swiss stores and an option for the Austrian franchise rights.

** Bonavista Energy Corp, a Canadian oil and gas company, has agreed to buy a natural gas-weighted asset in Alberta for about C$155 million ($157.3 million) to boost production by nearly 10 percent.

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