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Deals of the day- Mergers and acquisitions
September 27, 2013 / 10:29 AM / 4 years ago

Deals of the day- Mergers and acquisitions

Sept 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Federal regulators removed a roadblock to drugmaker Actavis Inc’s purchase of Warner Chilcott Plc after Actavis agreed to sell all rights and assets related to three oral contraceptives and an osteoporosis treatment.

** RDA Microelectronics Inc said China’s state-owned Shanghai Pudong Science and Technology Investment Co Ltd offered to buy the shares of the chipmaker it does not already own at $15.50 per American depositary share. The stock closed at $15.54 on the Nasdaq on Friday.

** Russian NK Rosneft OAO’s board will consider the possibility of buying out minority shareholders of TNK-BP Holding OAO, offering a premium and potentially winding up a long-lasting wrangle over how it treats smaller stakeholders.

** Italian lender Banco di Desio e della Brianza said it would submit a non-binding expression of interest to buy cooperative lender Banca Popolare di Spoleto, which is currently under special administration.

** Mexican phone company America Movil SAB, embroiled in an increasingly complex bid for Dutch telecom company KPN NV, said it might go ahead with its formal offer next month. America Movil, controlled by billionaire Carlos Slim, is still in talks with KPN and other interested parties and it also reserves the right to not proceed with the offer, the company said in a statement to Mexico’s stock exchange.

** Hungary’s financial watchdog PSZAF has approved an offer by France’s Servier group to buy all the shares of pharmaceuticals company Egis that it does not already own, Egis said in a statement.

** South Africa’s Afgri Ltd, which provides services to grain farmers, said it had received a takeover offer from private investment company AgriGroupe that would lead to its delisting from the Johannesburg bourse.

** Goldman Sachs’ private equity unit is close to buying a stake in Denmark’s oil and gas group DONG Energy , Danish business daily Borsen reported. According to the newspaper, which cited anonymous sources, Goldman Sachs Capital Partners will join forces with Danish pension funds ATP and PFA to buy around 20 percent of DONG Energy at a price of around 8 billion Danish crowns ($1.45 billion).

** Electricity supplier Power Assets Holdings Ltd plans to spin off its Hong Kong electricity business, the Hongkong Electric Co Ltd, in a deal that could be worth as much as $5 billion before the end of the year, Thomson Reuters publication IFR reported, citing a source familiar with the deal.

** Switzerland’s Nestle SA, the world’s largest food company, is looking to divest its PowerBar energy bars, a pioneer of sports nutrition products, according to four people familiar with the matter. The sale of PowerBar could fetch several hundred million dollars, the people said this week. Nestle declined to comment.

** Generic drugmaker Mylan Inc has won U.S. antitrust approval to buy Agila, a unit of India’s Strides Arcolab Ltd, subject to divesting some products, the Federal Trade Commission said on Thursday. The companies will have to divest assets needed to make 11 generic injectible drugs as a condition for approving the deal, the FTC said. The deal for Agila was valued at $1.6 billion when it was announced in February.

** Vodacom Group Ltd is in talks to buy Tata Communications Ltd’s stake in South African telecoms operator Neotel for more than 5 billion rands ($500 million), Bloomberg reported, citing a person familiar with the matter. Vodacom is the South African unit of Vodafone Group Plc. India’s Tata owns more than 60 percent of Neotel, a provider of fixed-line service and data.

** Indonesia-focused gold firm Archipelago Resources PLC said it agreed to be acquired by PT Rajawali Corp, an Indonesian company that already owns 53 percent of the company, in an offer that values it at 338 million pounds ($541 million). Archipelago said that its board was recommending Rajawali’s 58 pence per share cash offer, which represents an 18 percent premium to its closing price on Thursday.

** Danish wind turbine producer Vestas Wind Systems A/S and Japanese conglomerate Mitsubishi Heavy Industries Ltd have agreed to form a joint venture aimed at gaining a strong position in the market for offshore wind turbines. Vestas, the world’s largest wind turbine maker, will transfer the development of its large V164 8 MW offshore wind turbine, the order book for its V112 offshore turbine, existing offshore service contracts and about 300 employees to the joint venture.

** India approved a proposal by Spain’s Inditex S.A. , the world’s largest clothing retailer and the owner of the Zara brand, to sell its Massimo Dutti line of clothing, apparel, footwear and other products. India had rejected an application by Inditex unit Zara Holdings BV to sell the more upscale brand through a joint venture with Tata Group’s retail arm, Trent Ltd, in July 2012. But the Foreign Investment Promotion Board cleared the proposal as part of a go-ahead to 15 foreign direct investment plans worth 20.5 billion rupees ($330.3 million).

** Beats Electronics LLC, a maker of headphones founded by rapper Dr. Dre and music producer Jimmy Iovine, will get a $500 million investment from Carlyle Group LP, a person familiar with the matter said, valuing the company at more than $1 billion. Beats said that funds to buy the minority stake would come from Carlyle Partners V, a $13.7 billion buyout fund, but did not disclose details.

** Singapore airport services and catering firm SATS Ltd said it has signed an agreement with Oman Air and Oman Airport Management Co to explore a possible joint venture to develop and operate cargo facilities in the Gulf state.

** The British government said it would offer shares in state-owned Royal Mail at between 260 pence and 330 pence each in its London listing, valuing the company at as much as 3.3 billion pounds ($5.28 billion). The government plans to sell between 40.1 percent and 52.2 percent of near 500-year-old Royal Mail, which is expected to make its market debut on Oct 11. It has also agreed to give away 10 percent of the company’s shares for free to staff.

** German phone maker Gigaset AG said it received a takeover offer from Singapore-based Goldin Fund Pte Ltd. Goldin will offer 1 euro ($1.35) per bearer share, Gigaset said.

** China’s Shuanghui International Holdings Ltd will reduce its stake in Spanish packaged meats company Campofrio Food Group SA to less than 30 percent from 37 percent within three months, according to a regulatory filing. Shuanghui gained control of Campofrio through its $4.7 billion acquisition of U.S. pork giant Smithfield Foods Inc and had to decide whether to launch a full bid for the Spanish company or cut its stake to below 30 percent.

** Businessmen Mikhail Gutseriyev has increased his control of Russian mid-sized oil producer Russneft after Sberbank sold him its 2 percent stake in the firm, Sberbank’s Chief Executive Officer German Gref said.

** Private equity firm KKR & Co LP has withdrawn from the bidding process for Jones Group Inc, two people familiar with the matter said on Thursday, raising questions over the prospects of the auction for the fashion and footwear company. KKR, which had teamed up with Sycamore Partners LLC, another buyout firm, was the only party vying to buy the whole company, the people said.

** Beijing Xinwei Telecom Technology Co Ltd, controlled by Chinese billionaire Wang Jing, on Thursday proposed buying a 96.5 percent stake in Beijing Zhongchuang Telecom Test Co Ltd to buy a majority stake to obtain a listing in Shanghai.

** Piraeus Bank SA, Greece’s second-largest bank, is planning to list unit Geniki Bank on the stock exchange in the next six months, the Financial Times reported on Thursday, citing people briefed on the plan. Piraeus has hired Deutsche Bank AG and Barclays Plc to advise on the listing, which could raise about 200 million euros ($270 million) to 300 million euros, the newspaper reported.

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