Deals of the day -- mergers and acquisitions
The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1000 GMT on Thursday.
** South Korea's Woongjin Holdings said on Thursday it would sell its stake in water purifier maker Woongjin Coway Co Ltd to private equity firm MBK Partners for 1.09 trillion won ($964.9 million).
** A consortium formed by South Korean private equity fund STIC Investments and Hana Daetoo Securities was picked as the preferred bidder to acquire a 49 percent stake in unlisted defence company LIG Nex1, worth around $440 million, a source said on Thursday.
** Cash-strapped Sharp Corp is in talks to sell its key solar panel plant inJapan as part of an asset sale seeking more than $1.2 billion, local media said on Thursday, but it may struggle to woo buyers as high costs force the industry offshore, a source close to the company said.
** Highly indebted German real estate company Gagfah plans to sell 38,000 flats in Dresden, which represents a quarter of its portfolio, by the end of the year, Chief Executive Stephen Charlton said on Thursday.
** Norway's Telenor and Russian billionaire Mikhail Fridman's Alfa Group moved a step closer to settling their long dispute over controlling mobile operator Vimpelcom when both agreed to lift their stakes.
Alfa has raised its voting stake in Vimpelcom to 40.5 percent from 25 percent with $3.6 billion worth of shares from Egyptian tycoon Naguib Sawiris' Weather company while Telenor said on Thursday it would raise its stake to 43 percent from 39.5 percent with Weather shares.
** Canadian mining major Barrick Gold is in talks to sell all or part of its 74 percent stake in African Barrick Gold ABGL.L to China's largest gold producer, just two years after the underperforming Tanzanian assets were spun off.
** Korean Air Lines Co said it has submitted a bid for a stake in Korea Aerospace Industries (KAI), in a deal estimated by the market to be worth around 1.2 trillion won ($1.06 billion).
This article is copyrighted by Reuters