November 29, 2012 / 10:56 AM / 5 years ago

Deals of the day -- mergers and acquisitions

(Adds Saputo, Advent International, ProSiebenSat.1, Dockwise, Belden, Petrobras, Mitsubishi, Hostess Brands, Scailex, Metro)

Nov 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Vivendi SA is examining four non-binding offers above 6 billion euros ($7.75 billion) for its Brazilian broadband company GVT SA, according to a source familiar with the situation. Preliminary bids were submitted by satellite group DirecTV, Mexican telecom giant America Movil SAB , and a group of private equity funds.

** Malaysian state oil company Petroliam Nasional Berhad confirmed on Thursday that it resubmitted its bid for Canada’s Progress Energy Resources after the Canadian government blocked the $5.2 billion deal in October.

** Canadian dairy products maker Saputo Inc and U.S.-based Michael Foods are competing to buy Dean Foods Co’s Morningstar dairy division, people familiar with the matter said, in a deal that could fetch between $1 billion and $1.5 billion.

** Private equity firm Advent International said it would not increase its 1.5 billion euro ($1.9 billion) offer for German retailer Douglas, even though it is a way from gaining enough shares.

** ProSiebenSat.1 is expecting two bids for its Nordic TV channels, valued at more than 1 billion euros ($1.3 billion), five people familiar with the situation said.

The disposal could pave the way for the sale of the rest of the German broadcaster as its private equity owners KKR and Permira carve up the company to make it more attractive to buyers.

** Germany’s Siemens AG promised investors its deal to buy Invensys’ rail business for a hefty 1.74 billion pounds ($2.78 billion) would contribute to boosting profits in a tough economy.

** Rival electronic trading firms Getco Holding Co and Virtu Financial LLC have made competing bids for Knight Capital Group, valuing the company at a minimum of $1.1 billion, as they both eye Knight’s lucrative market-making business, sources said.

Getco proposed a $1.4 billion cash-and-stock deal that would see it merge into Knight as a public company, while Virtu offered a minimum of $1.1 billion in cash for what would end up a privately held firm.

** Hungary’s state-owned energy firm MVM may sign a deal with E.ON to buy the German utility’s local gas trading and storage units before the end of this year, a source familiar with the situation told Reuters.

Hungarian newspaper Vilaggazdasag said, without naming its sources, MVM was likely to pay closer to 800 million euros ($1.03 billion) for the units.

** Dutch maritime transport group Dockwise said dredging firm Boskalis’s takeover offer of 17.20 euros per share, or a total of 682 million euros ($885 million), was too low and undervalued its business.

Boskalis, the world’s biggest dredger, wants to buy Dockwise so it can expand in oil and gas services, and has already acquired a 33 percent stake in the firm.

** Cable maker Belden Inc said it will sell its Thermax and Raydex cable businesses to diversified manufacturer Carlisle Cos Inc for about $265 million, including debt, as it looks to exit the aerospace and defense markets.

** A subsidiary of Japan’s Mitsubishi Corp has bought a 40 percent stake in a $1.3 billion, 532-megawatt thermoelectric project planned in Chile, the plant’s majority owner, AES Gener, said on Thursday without disclosing how much the purchase cost.

** Brazil’s state-controlled oil company Petrobras plans to sell all its refineries outside of Brazil as part of an asset-sale plan aimed at helping finance expansion at home, a company source told Reuters on Thursday.

** Hostess Brands Inc, the bankrupt maker of Twinkies snack cakes, received court permission to wind down its 82-year-old business on Thursday but revealed “furious” interest in its iconic brands from potential buyers.

** Israeli holding company Scailex Corp said on Thursday it was in advanced talks to sell most of its stake in Partner Communications to Saban Capital Group.

** An auction of Advance Auto Parts Inc failed to attract bids that met its price expectations, making it unlikely the auto parts retailer would proceed with plans to sell itself, according to four people familiar with the matter.

** German retailer Metro is close to selling some of its hypermarket operations in eastern Europe to French rival Auchan, two sources familiar with the matter told Reuters on Thursday.

** Gold Fields, the world’s fourth-largest bullion producer, is spinning off its two oldest South African mines in the latest sign of the country’s once mighty gold industry succumbing to declining output and soaring costs.

** Mitsubishi Heavy Industries and Hitachi Ltd are to combine their fossil-fuel power generation businesses to compete against bigger overseas rivals Siemens AG and General Electric Co, which are winning deals even in the Japanese firms’ own backyard.

The Nikkei newspaper said earlier the proposed venture would have annual sales of 1.5 trillion yen ($18.3 billion).

** Japan’s biggest bank, Mitsubishi UFJ Financial Group , is among the first round bidders for General Electric’s $1.5 billion stake in Thailand’s fifth-largest lender, Bank of Ayudhya, sources told Reuters on Thursday.

** State Grid Corp of China is buying a 41 percent stake in unlisted South Australian electricity supplier ElectraNet, as the Chinese electricity giant ramps up investment in overseas assets. The Australian Financial Review, which first reported the deal, said State Grid was paying A$500 million ($523 million).

** Rabobank joined the ranks of financial institutions scaling back operations in Asia after it put its Indonesian unit up for sale, in a deal that could fetch around $400 million, sources said.

** China’s Changan Automobile Group is selling its 50 percent stake in a car venture with PSA Peugeot Citroen to its listed unit, Chongqing Changan Automobile Co , sources with direct knowledge of the matter said, in a sale worth 2 billion yuan ($320 million).

** Diversified manufacturer Carlisle Cos Inc said it will buy Belden Inc’s Thermax-Raydex business for about $265 million, including debt.

** Cisco Systems Inc agreed to buy privately held network traffic-management software maker Cariden Technologies Inc for about $141 million in cash.

** Canadian Tire Corp Ltd has agreed to buy closely held hockey retailer Pro Hockey Life Sporting Goods Inc for C$85 million.

** Indian group PVR is to buy control of rival Cinemax India for 3.95 billion rupees ($71 million) to create the country’s biggest operator of multi-screen movie theatres. (Compiled by Tej Sapru and Maneesha Tiwari in Bangalore)

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