Reuters logo
Deals of the day- Mergers and acquisitions
June 19, 2014 / 10:15 AM / 3 years ago

Deals of the day- Mergers and acquisitions

(Adds Siemens, Banca Etruria, PPF, Telenor, updates David Jones, Man Group, General Electric, KKR & Co)

June 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** General Electric revised its bid for the power arm of Alstom on Thursday to respond to political concerns in France, offering joint venture opportunities and providing guarantees to the French state.

The revised offer is a “substantial improvement” on GE’s previous proposal, French Finance Minister Michel Sapin said on Thursday.

Siemens and Japanese partner Mitsubishi Heavy Industries have also revised their alliance proposal to Alstom, French trade unions said.

** First Data Corp will receive a $3.5 billion injection from existing and new investors, it said on Thursday, as its private equity owner, KKR & Co LP, tries to offer debt relief to the one of the world’s largest leveraged buyouts.

** Australian retailer David Jones Ltd has postponed a shareholder vote on a $2 billion takeover bid from South Africa’s Woolworths after Australian billionaire Solomon Lew amassed a stake that could scupper the deal.

** Swiss electronics company TE Connectivity Ltd said it would buy U.S.-based sensor maker Measurement Specialties Inc for about $1.7 billion, including debt, to grab a bigger slice of the high-growth global sensor market.

** The euro zone’s biggest bank Banco Santander SA said it had agreed to sell a 50 percent stake in its securities custody business to a holding led by U.S. buyout firm Warburg Pincus. Santander said in a regulatory filing that it would book a 410-million-euro ($556.45 million) net capital gain on the sale of the business.

** Samsung Life Public Welfare Foundation will sell around $500 million of shares in Samsung Life Insurance Co, a source with direct knowledge of the matter told Reuters.

** British hedge fund firm Man Group has bought U.S. peer Numeric Holdings for an initial $219 million to broaden its computer-driven business and increase its presence in the United States.

** Enbridge Energy Partners LP said it would sell a 12.6 percent interest in its natural gas midstream business to partner Midcoast Energy Partners LP for $350 million.

** Abu Dhabi’s Etihad Airways said it is not in talks with Malaysian Airlines for an equity investment, dismissing media reports.

** Quebecor Inc would consider buying small rivals to become a national wireless carrier that reaches most Canadians, its new CEO said.

** Singapore-based rubber firm Halcyon Agri Corp Ltd said it has offered to buy rubber processing plants in Indonesia for S$450 million ($359.91 million).

** Egypt’s Beltone Financial Holding will offer itself for acquisition by EFG Hermes if it is successful with a joint bid for a 20 percent stake in the investment bank, according to the offer document seen by Reuters ahead of its publication on Friday. Beltone and billionaire Naguib Sawiris are together offering $257 million for the EFG stake.

** Emerging market-focused private equity firm Abraaj Group aims to complete a takeover of Egyptian healthcare firm Cairo Medical Center after announcing plans for a tender offer to shareholders.

** Israeli energy and insurance conglomerate Delek Group said it agreed to sell a 36 percent stake in its U.S. insurance business Republic Group to a group of unnamed investors, less than a previously announced 55 percent. The deal is worth $80 million.

** Italian mid-sized lender Banca Etruria said its chairman would sound out the market for possible merger partners after larger rival Popolare di Vicenza broke talks about a planned takeover of the Tuscan bank.

** Investment group PPF, owned by the richest man in the Czech Republic Petr Kellner, will sell its 40 percent stake in EPH directly to the energy group it helped build into a major central European player, the companies said on Thursday.

** The Norwegian government is considering reducing its stakes in telecommunications company Telenor and industrial group Kongsberg Gruppen both to 34 percent, a minister told the public broadcaster late on Thursday. (Compiled by Amrutha Gayathri and Ankit Ajmera in Bangalore)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below