September 16, 2014 / 10:06 AM / 5 years ago

Deals of the day- Mergers and acquisitions

(Updates Kuwait Foods; Adds Eagle Merchant, Novo Banco, Blackstone Group, Citadele, Entropic Communications, Phoenix Services, Blackstone Group, Atlantic Power, Energy Future, Sibur Holding, Roche Holding, PODS Enterprises and BNP Paribas)

Sept 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Texas’s biggest power company, the bankrupt Energy Future Holdings, will soon present plans to auction its majority stake in its Oncor power distribution unit, a business that could be worth $20 billion or more including debt.

** Blackstone Group LP aims to raise about $16 billion for its latest flagship buyout fund, roughly in line with a predecessor fund that wrapped up fundraising in 2012, a person familiar with the matter said on Tuesday.

** Sibur Holding OAO, Russia’s largest producer and exporter of liquefied petroleum gas, will invest $9.5 billion in the petrochemical project Zapsibneftekhim in the Tyumen region, the company said.

** PODS Enterprises Inc, a U.S. moving and storage company managed by private equity firm Eagle Merchant Partners, is exploring a sale that could value it at around $1 billion, including debt, according to people familiar with the matter.

** Atlantic Power Corp removed its chief executive and decided against selling itself. In May, the struggling utility had hired Goldman Sachs and Greenhill & Co to explore a sale or merger. The company said on Tuesday, however, that its best option would be to continue as an independent company.

** Portugal’s Novo Banco, the successor to Banco Espirito Santo after a state rescue, will likely attract bids from foreign banks, a partner at U.S. investment bank Goldman Sachs said.

** BNP Paribas aims to boost returns on equity in Poland to a double-digit percentage by 2017 after acquiring Bank BGZ , said Jean-Paul Sabet, deputy head of international retail banking at France’s biggest listed bank.

** The Latvian government said on Tuesday it would sell its stake in the state-owned Citadele bank to a group of investors led by US-based firm Ripplewood Holdings LLC.

** Chipmaker Entropic Communications Inc said it was exploring strategic options amid order delays that it warned would continue through the year, hurting the company’s efforts to turn a profit.

** The private equity owner of Phoenix Services LLC, which provides services to global steel producers including ArcelorMittal SA, is exploring a sale that it hopes will value the company at more than $800 million, according to people familiar with the matter.

** Roche Holding AG’s decision to buy U.S. biotech company InterMune Inc for $8.3 billion last month was “exceptional” and not a sign of more ambitious plans for major acquisitions, the Swiss drugmaker’s chief executive said on Tuesday.

** France’s Orange has reached a deal to buy Spanish fixed line telecoms operator Jazztel in an effort to bolster its mobile operation in the country and better compete with rivals Telefonica and Vodafone Group .

** Washington Prime Group, a retail real estate investment trust, said it would buy Glimcher Realty Trust in a cash-and-stock deal valued at about $4.3 billion, including debt.

** Airbus Group has unveiled plans to sell half a dozen businesses with combined annual revenues of around 2 billion euros ($2.6 billion), simplifying its defence and space division to focus on warplanes, missiles, launchers and satellites.

** ThyssenKrupp plans to start talks with Airbus about a possible buy-out of Airbus’s 49 percent stake in submarine supplier Atlas Elektronik, its chief executive said.

** Mail.Ru Group, majority-owned by Russia’s richest man Alisher Usmanov, has resolved a shareholder dispute over the country’s biggest social network VKontakte (VK), buying out a rival co-investor for $1.47 billion. Mail.Ru bought 48 investment fund United Capital Partners’s (UCP) 48 percent stake to own 100 percent of VK.

** Magnum Hunter Resources Corp said Morgan Stanley would become a co-owner in its natural gas gathering subsidiary that operates in the Marcellus and Utica shale fields. Magnum Hunter will sell a 6.5 percent stake in Eureka Hunter Holdings to Morgan Stanley Infrastructure for $65 million, valuing the pipeline company at $1 billion.

** Japan’s Pioneer Corp said it is to sell its disc-jockeying audio equipment unit to private equity firm KKR & Co LP for around 59 billion yen ($550 million), as it outlined a growth strategy centred on its automotive electronics business.

** Spanish bank Santander said it had reached an agreement to acquire the Canadian business of auto-financing company Carfinco for C$298 million ($269.3 million).

** Buzzi Unicem company agreed to pay 104 million euros ($134.6 million) to buy Russian cement maker Uralcement as the Italian company looks beyond uncertainty created by European Union and United States sanctions. The deal, sealed with France’s Lafarge, will generate “interesting synergies”, the Italian company said.

** Global mobile operator Vimpelcom and Egypt’s Global Telecom have agreed to sell their stake in Wind Canada for about C$135 million ($122 million) to a Canadian investment firm.

** Greece has received three bids for the sale of mobile phone frequencies aimed at upgrading telecom services in the country.

** EFG Hermes, one of the largest banks in the Arab world, has denied it might sell its majority stake in Credit Libanais, after an Egyptian newspaper said it could offload its holdings for the right price.

** Up to three bidders could submit offers to buy a majority stake in Kuwait Food Co SAK (Americana) ahead of a deadline for second-round bids in mid-October, sources aware of the matter told Reuters.

** Mahindra & Mahindra Ltd, India’s largest utility vehicle maker, is in advanced talks to buy PSA Peugeot Citroen’s scooter business, Bloomberg reported, citing three unnamed sources familiar with the matter.

** Independent tank operator Oiltanking said it had sold a 289,000 cubic metre storage facility in Merak, Indonesia, blaming oil subsidies for making the business unprofitable. Oiltanking sold the facility in August to local companies active in the oil- and coal-shipping industry. ($1=37.99 roubles) ($1 = 0.7724 euro) ($1 = 107.2100 yen) ($1 = 3.2398 Polish zlotys)

Compiled by Anya George Tharakan and Anet Josline Pinto in Bangalore

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