December 10, 2013 / 10:06 AM / 6 years ago

Deals of the day-Mergers and acquisitions

Dec 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Hedge fund Elliott International is pushing U.S. drugs wholesale group McKesson to hike its $8.3 billion offer for German peer Celesio, a source close to the investor said.

** Norway’s richest man has handed a chunk of his personal wealth, including his listed real estate holding company, to a charitable foundation, marking his exit from a self-built business empire.

Olav Thon, whose wealth is estimated at 27 billion crowns ($4.39 billion) by Kapital magazine, handed his 71.9 percent stake in Olav Thon Eiendomsselskap ASA to his newly created foundation, starting off the new entity with about $1.3 billion, based on the firm’s market capitalisation.

** Turkey is expected to increase its 20 percent stake in the multi-billion dollar Trans-Anatolian natural gas pipeline project, designed to reduce Europe’s reliance on Russian gas, Azeri state energy company SOCAR said.

** Indian conglomerate Reliance Industries, set to launch 4G services in the highly competitive Indian telecoms market, has signed a deal with the country’s largest telecoms operator Bharti Airtel to share telecom infrastructure.

** Lloyds Bank boosted its capital by 685 million pounds ($1.1 billion) via the sale of its remaining stake in wealth manager St James’s Place, raising hopes it can soon pay dividends again for the first time since its 2008 bailout.

** Volvo, the world’s No. 2 truck maker, said it had agreed to sell its machine rental business in North America to U.S. private equity firm Platinum Equity for about 7.2 billion Swedish crowns ($1.1 billion).

** Belgian postal group BPost said that its private equity backers, which still owned a 19.7 percent stake in the group after it was floated in June, would sell their shares in an accelerated bookbuild.

Post Invest Europe Sarl, a consortium led by private equity group CVC Capital Partners Ltd, will sell some 39.3 million shares in the group, BPost said. The stake is worth about 600 million euros ($826.3 million) based on Tuesday’s share price.

** Canadian oil producer Talisman Energy Inc said it had sold its stake in the Ocensa oil pipeline in Colombia to an investment group led by Advent International for about $595 million, bringing total asset sales this year to $2.2 billion.

** Pharmacy chain CVS Caremark Corp and pharmaceutical distributor Cardinal Health Inc announced a 10-year agreement to form the largest generic drug sourcing operation in the United States. Cardinal will pay CVS $25 million on a quarterly basis for the duration of the contract, with an estimated after-tax value to CVS of $435 million.

** Santander, Spain’s largest bank, is to buy HSBC’s 8 percent stake in Bank of Shanghai, just as many international rivals are beginning to sell out of China.

Santander said the Bank of Shanghai deal also included a cooperation agreement, taking the value of its investment to 470 million euros.

** Malaysia’s BIMB Holdings Bhd will issue a 1.7 billion ringgit ($525.75 million) Islamic bond to help raise the $884 million it needs to buy the remainder of Bank Islam, the country’s oldest and largest standalone Islamic bank.

** Monsanto Co, the world’s largest seed company, said that a deal with Danish company Novozymes to form a long-term research and development alliance should accelerate the release of microbial-based products designed to improve crop production.

Monsanto will make an upfront payment of $300 million and establish the “BioAg Alliance,” which joins Novozymes’ microbial discovery work with Monsanto’s commercial capabilities, the companies said.

** Britain’s Oxford Instruments has agreed to buy Andor Technology for 176 million pounds after its raised bid was accepted by the board.

** An investor group led by Macquarie Group bought the Severn gas-fired power station in Britain from Danish utility DONG Energy, adding to a trend as investors snap up power plant assets in Europe.

** The board of Telecom Italia is not considering any plan to break up the company’s Brazilian wireless unit TIM Participacoes, CEO Marco Patuano said.

** Fifth & Pacific Cos Inc said it would sell its Lucky Brand Jeans business to private equity firm Leonard Green & Partners LP for $225 million as it focuses on its fast-growing, higher-end kate spade brand.

** Cellcom, Israel’s largest mobile phone operator, said it agreed to share the expense of setting up a new fourth-generation (4G) network with two rivals.

Pending regulatory and anti-trust approval, Cellcom will construct and operate a shared 4G radio network with Pelephone and Golan Telecom.

** German property company Deutsche Annington is close to an agreement to buy Vitus Immobilien, a German residential landlord partly owned by Blackstone Group, Bloomberg reported.

** Croatia hopes to resume talks with Hungary’s energy group MOL over the management of Croatian counterpart INA within 10 days, Croatia’s Economy Minister Ivan Vrdoljak told reporters.

** Poland’s second-biggest power producer Tauron will buy 47.5 percent of Poludniowy Koncern Weglowy for 310 million zlotys ($102 million) to take full control of the local coal miner, Tauron said.

** Franklin Templeton, the manager of Romanian restitution fund Fondul Proprietatea, said it aimed to sell about 10 percent of state-owned gas grid operator Transgaz in a private placement aimed largely at international investors. The 10 percent stake would be worth about $65.7 million based on Tuesday’s closing share price.

** Gold-miner Centamin said it agreed to buy West African-focused Ampella Mining for A$40.9 million ($37.2 million) in a move that would give it exposure to projects outside Egypt, where its operating license is in jeopardy.

** Brazilian homebuilder Gafisa SA said on Monday that it had concluded the sale of 70 percent of its Alphaville unit. The company also announced a buyback of up to 7.6 percent of its stock.

** Commodity trader Trafigura said it had no plans to sell its warehouse operations, responding to speculation it wanted to spin off the business after the London Metal Exchange (LME) tightened rules to reduce backlogs in the sector.

** Fininvest, the holding company of former Italian prime minister Silvio Berlusconi, said it had started to sell 5.61 percent in asset manager Mediolanum.

** Kolar Gold Ltd, which aims to develop the historic Indian gold fields after which it is named, is considering a complex deal that could give it a slice of an enlarged Mumbai-listed exploration and development company.

** Czech utility CEZ has offered to buy German group E.ON’s stake in a gas company it owns with the City of Prague, it said.

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