July 23, 2013 / 10:24 AM / in 5 years

Deals of the day -- mergers and acquisitions

(Adds Vodafone, DuPont, Sourcefire, Philips 66, Telecom Italia; Updates Telefonica, Maroc Telecom)

July 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** German mobile phone operator E-Plus expects regulators to demand remedies to approve its sale to Telefonica Deutschland for about 8.1 billion euros ($10.7 billion), its chief executive told Reuters.

** Vivendi SA’s long-flagged deal to sell its controlling stake in Maroc Telecom to Abu Dhabi-based Etisalat is just the first step in the French conglomerate’s bet that it can remake itself as a media-focused company. Vivendi said it had entered into exclusive talks to sell its majority stake in Maroc Telecom to Etisalat for 4.2 billion euros ($5.54 billion) in cash.

** Bank holding company PacWest Bancorp said it would buy commercial bank CapitalSource Inc for about $2.29 billion in cash and stock to expand its presence in southern California.

** Cisco Systems Inc said it would buy software maker Sourcefire Inc for about $2.7 billion to increase its network security services. Cisco will pay $76 per share for the company, which represents a premium of 28.6 percent to the stock’s closing price of $59.08 on Monday.

** Diageo Plc, the world’s biggest spirits group, has taken a controlling stake in China’s white spirits company Shuijingfang, investing further in a key market that has shown signs of slowing. The British group said it had acquired a holding company, which would increase its ownership of the Shanghai-listed firm from 21 percent to 39.7 percent in a deal worth 233 million pounds ($358 million).

** Activist hedge fund Third Point LLC reached an agreement to sell two-thirds of its stake in Yahoo Inc back to the company, pocketing a tidy profit and relinquishing three seats on the board of a company trying to effect a tricky turnaround.

** Private Greek business group Copelouzos has offered to team up with Russian Railways to make a bid for Greece’s railway monopoly Trainose in a planned privatization tender, according to a report by Russian news agency Prime.

** A planned venture between Wilmar International Ltd and Noble Group Ltd to develop palm plantations in Indonesia’s Papua region has stalled just months after it was announced as it failed to win approval from authorities.

** Swiss machinery manufacturer Sulzer AG said that it was planning to sell its Sulzer Metco division, mainly active in the automotive and aviation industries, to concentrate on oil and gas, power and water markets, areas where the firm sees more promising growth.

** Ryanair Holdings Plc said it was prepared to sell its stake in rival Aer Lingus Group Plc to appease a UK anti-competition probe, a move analysts said was an apparent gambit to avoid a forced sell-down. Europe’s biggest budget airline said in a statement it would unconditionally sell its 29 percent shareholding to an EU airline that makes an offer to buy out Aer Lingus.

** A longtime ally of Igor Sechin, Rosneft’s chief executive, may leave the state-controlled company to buy possible oil exploration, production or refining assets by himself, Kommersant daily reported, citing sources.

** Spanish builder Dragados said that it has launched a bid for the remaining 34 percent stake in its Polish subsidiary Pol-Aqua.

** Sweden said that a thorough analysis was needed to decide whether to bring in external ownership to troubled power group Vattenfall’s new central European division.

** DuPont is exploring the sale of its once-lucrative performance chemicals unit, turning its back on the unpredictable paint business to focus on its thriving food and agriculture products.

** The world’s top oil trader Vitol SA said it had completed the purchase of a British power plant from Phillips 66 as it seeks to build its portfolio of energy assets.

** Italy’s telecommunications regulator AGCOM will examine and probably give preliminary approval for Telecom Italia SpA’s planned spin-off of its fixed-line network on Thursday, two sources with knowledge of the process told Reuters.

** The chairman of the world’s second-largest mobile operator Vodafone said the group would seriously consider any offer for its stake in its U.S. joint venture Verizon Wireless but that there was nothing new to announce. (Compiled by Varun Aggarwal)

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