Deals of the day -- mergers and acquisitions

By Staff Reporter

Sep 25, 2012 09:11 AM EDT

The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** A trio of state-run Indian oil companies has bid $5 billion for stakes in Canadian oil sands holdings owned by ConocoPhillips, two sources said, as the world's No.4 oil importer continues to search for supplies to power its near $2 trillion economy.

 ** Cairn Energy Plc has raised $910 million by selling an 8 percent stake in Cairn India, continuing the sell-down of its historic interest in the Indian business it formerly controlled to fund new projects.

** Sony Corp will likely approve a plan this week to invest 50 billion yen ($642.05 million) in cash-strapped Olympus Corp, becoming its biggest shareholder with around a 10 percent stake, three sources familiar with the deal told Reuters.

** Trader Glencore has revised down its plan to boost its majority stake in Kazakh zinc producer Kazzinc, targeting an increase to just under 70 percent in a deal that will involve less cash than the original agreement a year ago.

** British insurer Aviva Plc and Malaysian bank CIMB Group Bhd have set an Oct. 29 deadline for short-listed suitors to place binding bids to buy their Malaysian insurance joint venture, in a deal worth at least $500 million, sources said.

** Indeed, the online jobs search website, has agreed to be bought by Japan's executive search firm Recruit Co Ltd for an undisclosed amount after several months of direct negotiations, its co-founder Paul Forster said.

** Diageo Plc is in talks to acquire a stake in Indian billionaire Vijay Mallya's United Spirits Ltd, reviving an on-again, off-again courtship that would ramp up its presence in the world's largest whisky market.

** Rio Tinto has agreed to sell two small coal assets in South Africa, the latest move by the global mining giant to up stakes and divest from the country.

** Morocco's government, battling to contain a high budget deficit, has agreed to sell a 10 percent stake in Banque Populaire, its second divestment in the lender in a little over a year.

** Turkey is considering a public offering of a state stake in telecoms company Turk Telekom by the end of the year, Zaman newspaper reported on Tuesday.

** Itau Unibanco took control of card payment processor Redecard at a tender auction on Monday, protecting a key source of revenue at Brazil's largest private sector bank from the impact of lower interest rates and slowing credit growth.

** ASML said late on Monday that it bought a key supplier, Dutch firm Wijdeven Motion, for its linear motor technology, which is crucial in determining the size of a nanometre, or a billionth of a meter, in ASML's chip-making kit.

** Media-focused buyout firm Providence Equity Partners Inc has sold an under 10 percent stake in the company managing its funds to two institutional investors, a person with direct knowledge of the matter said on Monday.

** A New York-based investment fund that owns shares in U.S. engineering company Shaw Group Inc, has demanded that a special committee be set up to investigate Shaw's chairman for potential conflicts of interest as he looks to sell the company to Chicago Bridge & Iron Co for $3 billion.

** Mexican billionaire Carlos Slim has closed the deal to buy investor Ronny Pecik's 16 percent stake in Telekom Austria , the Austrian group said on Tuesday.

This article is copyrighted by Reuters

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