Top deals of the day - Mergers & Acquisitions

By Editor

Nov 13, 2013 04:56 PM EST

The following bids, mergers, acquisitions and disposals were reported on Wednesday:

BNP Paribas has agreed to buy the Belgian state's 25 percent stake in BNP Paribas Fortis for 3.25 billion euros ($4.36 billion), the French bank and the Belgian government said in a joint statement on Wednesday. The Belgian state will make a capital gain of about 900 million euros following the closing of the deal, the parties said. 

Crocs Inc, known for its colorful clogs, has hired investment bank Moelis & Co to explore strategic alternatives, including a leveraged buyout, two people familiar with the matter said on Wednesday. 

PetroChina, China's top oil and gas firm, has struck a deal to acquire the Peruvian oil and gas assets of Brazilian state-led oil company Petrobras for $2.6 billion. 

Bain Capital LLC is in advanced talks to acquire auto parts supplier TI Automotive Ltd in a deal approaching $2 billion, people familiar with the matter said on Tuesday. 

US Airways Group Inc and American Airlines will be allowed to merge to become the world's largest airline after they agreed to give low-cost competitors more access to several key U.S. airports, including in New York and Washington. 

The French government approved IntercontinentalExchange Inc's takeover of stock market operator NYSE Euronext but urged French market players to step in to preserve Paris as a financial center.The merger, worth some $10.9 billion, has been completed and is set to be followed next year by the spin-off of NYSE's European arm Euronext, which operates the Paris, Amsterdam, Brussels and Lisbon stock exchanges. 

Italy's biggest utility Enel has completed the $1.8 billion sale of its stake in Russian natural gas producer SeverEnergia to Kremlin-controlled Rosneft, despite resistance from other shareholders. 

U.S. distressed asset investor Lone Star has won the right to buy the Osaka Prefectural Urban Development Co, half owned by Japan's Osaka prefecture, for 78 billion yen ($783 million), two people with direct knowledge of the transaction told Reuters. 

German real estate company DIC Asset is hiking its stake in a property portfolio worth 481 million euros ($646 million) and raising capital to pay for the purchase. DIC Asset said it was buying 74 percent of the "Unite" property portfolio, comprising 54 commercial properties in Germany, from its shareholder Deutsche Immobilien Chancen and DIC Capital Partners. That raised its holding to 94 percent. 

E.ON, Germany's biggest utility group, is selling an 80 percent stake in its Roedsand II offshore wind farm to Danish consumer-owned energy group SEAS-NVE for 3.2 billion Danish crowns ($577 million). 

Murray Goulburn Co-operative Co Ltd, the second-biggest shareholder in Warrnambool Cheese and Butter Factory Co Holdings Ltd, raised its takeover offer for the Australian dairy company to A$505 million ($470 million), trumping Canadian company Saputo Inc's bid. 

Warsaw-listed developer GTC expects top shareholder Kardan will find a real-estate industry buyer for its 680-million zloty ($217 million) stake within weeks, GTC's chief executive said. 

Olam International Ltd said it signed a sale and lease-back agreement for its almond orchards in Australia with a group of investors for A$200 million ($186 million). 

British Land Co said its would-be partner in London's Broadgate office complex had been selected by U.S. private equity group Blackstone and suggested a final decision would be made soon. 

Flybe Group Plc said biggest shareholder Rosedale Aviation Holdings has sold its entire 48.1 percent stake in the Europe's largest regional airline to institutional investors.

Activist investor Edward Bramson's Sherborne Investors no longer has any exposure to British private equity group 3i III.L, having sold some of its stake and hedged the rest after seeing better opportunities elsewhere. 

Russian investment bank VTB Capital plans to sell its entire 9 percent stake in software developer Luxoft through a secondary share sale that could raise up to $87.5 million, Luxoft said on Wednesday. 

South African agricultural company Zeder Investments Ltd said it agreed to pay $27.5 million for a Zambian maize and wheat milling firm. Mpongwe Milling, privately owned by a family since 2006, operates in the Copperbelt province of Zambia. 

Washington law firm Patton Boggs, well-known for its lobbying and public policy work, came one step closer on Tuesday to merging with Dallas law firm Locke Lord, according to a lawyer at Patton Boggs. 

Health Management Associates Inc said its board backed its proposed takeover by Community Health Systems Inc after a review period spurred by activist investor Glenview Capital. 

Turkey's largest food group Yildiz Holding is in talks with strategic investors about selling its yeast making unit Dosu Maya, its chief financial officer said. 

Poland's biggest power producer PGE is interested in buying a stake in its smaller state sibling Energa during its initial public offer, PGE's chief executive said.   

Mobile messaging startup Snapchat rejected an acquisition offer from Facebook Inc that would have valued the company at $3 billion or more, according to a Wall Street Journal report on Wednesday.  

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