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Deals of the day -- mergers and acquisitions
August 30, 2012 / 10:02 AM / 5 years ago

Deals of the day -- mergers and acquisitions

Aug 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2015 GMT on Thursday:

** DuPont Co struck a deal to sell its slow-growing car paint business to investment firm Carlyle Group LP for $4.9 billion cash as it seeks to focus on higher-growth areas such as agriculture and nutrition.

** Canada’s No. 3 lender Bank of Nova Scotia agreed to buy ING Groep’s Canadian online bank for C$3.1 billion ($3.14 billion), taking advantage of a rare opportunity to grab market share in the country’s crowded retail banking space.

** Reinsurer Validus Holdings Ltd said it will buy Flagstone Reinsurance Holdings for about $600 million in cash and stock to boost its property reinsurance business.

** China’s Shandong Heavy Industries may announce a deal to buy a 25 percent stake in Germany’s Kion Group for between 700 million euros ($876.9 million) and 750 million euros as soon as Monday, two sources familiar with the matter said.

** French bank Societe Generale said on Wednesday it was in talks to sell its controlling stake in Egyptian unit National Societe Generale Bank to Qatar National Bank , as Europe’s lenders retrench from expansion abroad.

** China Baoxin Auto Group Ltd has agreed to buy NCGA Holdings Ltd, a high-end car dealership based in Beijing and backed by global asset manager Apollo Group, for $305 million, Baoxin said in a statement on Thursday.

** Investment bank Gleacher & Co Inc said it was exploring strategic alternatives, including raising more capital or even a possible sale of the 12-year-old company founded by merger and acquisition veteran Eric Gleacher.

** Debt-mired JJB Sports Plc put itself up for sale on Thursday and warned investors their shares may be worthless, placing the sports goods retailer at risk of becoming another big-name British retail casualty.

** Germany’s Metro AG is in talks to sell its Real supermarket stores outside its home market, two sources familiar with the matter told Reuters on Thursday, joining the ranks of retailers looking to slim down amid subdued consumer spending.

** The Croatian government cancelled on Thursday a tender seeking advisers for the sale of Hrvatska Postanska Banka (HPB), the last major banking asset still in state hands, after rejecting the sole bid it received.

** Private equity firm Guggenheim Partners is close to buying “Golden Globe” producer Dick Clark Productions after “American Idol” host Ryan Seacrest and his backers withdrew from talks, the Hollywood Reporter newspaper said.

** Russian state railway monopoly Russian Railways has considered bidding for French carmaker Peugeot’s logistics division GEFCO, according to materials produced for a Russian Railways’ board meeting seen by Reuters on Thursday.

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