Deals of the day - M&As

By Staff Reporter

Jul 01, 2013 06:22 PM EDT

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

- Chinese state oil firm CNPC will buy a stake in Kazakhstan's giant Kashagan oil project, through back-to-back deals with Kazmunaigaz through which ConocoPhillips will exit, the Kazakh state oil firm said on Monday.

- Lyazzat Kiinov, chief executive of Kazmunaigaz, confirmed the deal structure on the fringes of a summit of gas exporting nations in Moscow, telling Reuters that CNPC would pay more than $5 billion for the stake. 

- Tribune Co said it would buy 19 television stations from Local TV Holdings LLC for $2.73 billion in cash, making it the largest TV broadcaster in the United States. (Full Story)

- Nokia Corp announced plans to buy out Siemens AG's share of their network equipment joint venture, betting on the technology to run 4G networks as it struggles in the smartphones business. Loss-making Nokia gains full control of the profitable venture Nokia Siemens Networks (NSN) for $2.2 billion, a cheaper than-expected price, analysts said. (Full Story)

- Three private equity firms have submitted bids to acquire France's leading funeral services firm OGF, sources familiar with the matter said on Monday. OGF could sell for 800 million to 1 billion euros including debt, sources said. 

- Cancer drugmaker Onyx Pharmaceuticals Inc said on Sunday it rejected a roughly $10 billion takeover offer from larger biotechnology company Amgen Inc as too low but still is considering selling itself. (Full Story)

- Russian tycoon Viktor Vekselberg has launched a bid to control Swiss steelmaker Schmolz+Bickenbach after he failed to win support from shareholders to raise more capital and install his preferred candidate on the company's board.

- France will sell stakes in Paris airport operator ADP of 4.69 percent to construction group Vinci and 4.81 percent to Credit Agricole Assurances, Finance Minister Pierre Moscovici said. 

- Jonathan Harmsworth, the Viscount Rothermere, who owns a controlling stake in the trust that runs the British mid-market tabloid newspaper the Daily Mail, has made an approach to buy out the rest of the voting shares. 

- Telecom Italia denied on Monday it was in talks with Qatari funds to sell a stake in its fixed-line business after it completes a planned spin-off, saying a media report as such was groundless. (Full Story)

- Mexico's Coca-Cola FEMSA, the world's largest Coke bottler, said on Friday it reached an agreement to purchase 100 percent of Brazilian peer Companhia Fluminense for $448 million in cash. (Full Story)

- Second-ranked Polish lender Pekao, pressured by a recent takeover of the Polish unit of Nordea by its larger rival PKO, is keeping a eye out for possible acquisitions, its Chief Executive Luigi Lovalio was quoted as saying.

- ThyssenKrupp, Germany's biggest steelmaker, is examining the possibility of selling part of its European steel business to an investor, Rheinische Post newspaper said on its website on Saturday, citing unnamed supervisory board sources. 

- RCS Mediagroup, the publisher of influential Italian newspaper Corriere della Sera, could be split into three units after a capital hike that is changing the balance of power among its shareholders, La Repubblica reported on Saturday.

- Indonesia-focused coal miner Bumi Plc is considering selling the 23.8 percent stake held by Indonesia's Bakrie family in the market for cash, instead of a previous plan to cancel the shares, a report on Sunday said. 

- GP Investments Ltd, the largest Latin American private-equity firm, agreed to buy a 33 percent stake in Brazilian hair care salon Cor Brasil SA for 70 million reais ($32 million), as improving living standards in Latin America's largest economy fuel demand for beauty care-related services. 

- New York litigation boutique Stillman & Friedman, whose clients have included famous Wall Street moneymen and government lawyers, is being acquired by the large law firm Ballard Spahr, according to the firms' leaders. 

- Real estate data analytics company Corelogic Inc said it would buy two units from Decision Insight Information Group for $661 million to expand its property and casualty insurance business. (Full Story)

- London-based private equity firm Pamplona Capital Management has dropped out of talks to buy a controlling stake in Turkish hospitals group Medical Park, five banking and industry sources aware of the matter told Reuters on Monday.

- German drugs distributor Celesio is in talks with two of its larger U.S. rivals, McKesson Corp and Cardinal Health Inc, on a possible stake sale, two industry sources said. (Full Story)

- Intuit Inc said it would sell its financial services unit to private equity firm Thoma Bravo for $1.03 billion as it focuses on its core tax-preparation software business. (Full Story)

- Steinway Musical Instruments Inc, the 160-year-old manufacturer of pianos, saxophones and trumpets, said on Monday it had agreed to be acquired by private equity firm Kohlberg & Co. in a deal valued at about $438 million. 

- French property firm Gecina SA said on Monday that it had sold four Club Med holiday villages for 280 million euros ($364.99 million) as part of a shift in Gecina's business strategy. 

- Itaú Unibanco, Brazil's largest bank by market value, said on Friday its Uruguayan unit had signed a deal to buy Citi Uruguay's retail banking operations, assuming more than 15,000 clients with more than $265 million in deposits. 

- Japan's biggest building products maker, Lixil Group Corp, said on Friday it would buy toilet and plumbing facilities maker ASD Americas Holding Corp (American Standard) for $542 million from buyout firm Sun Capital Partners Inc. (Full Story)

- Finnish stainless steelmaker Outokumpu's efforts to sell VDM, its high-performance alloys business, has attracted preliminary bids mainly from private equity firms such as Triton, Apollo and KPS Capital, a German daily reported. 

- Private equity firms Blackstone and Lion Capital have teamed up to make a formal bid worth more than a billion pounds for Lucozade and Ribena, the two soft drink brands put up for sale by drugmaker GlaxoSmithKline, Sky News reported on Sunday.

- Polish coal miner JSW is considering a proposal from rival NWR to buy some of the Czech group's mining and coking assets, JSW's chief executive told Reuters on Monday. NWR has said it is looking to shed some operations and cut jobs and costs in a bid to slim down and return to profit after posting two straight quarterly losses, hit by falling coal prices on continued low demand. 

- Germany's Conergy AG is close to striking deal that would see an Asian investor take a substantial stake in the company, once Europe's top solar group, two people familiar with the matter told Reuters. According to the people, the investor would take over a 261.5 million euros syndicated loan agreement closed by Conergy and ten banks - led by Commerzbank AG - in 2011, and would pump 50 million euros ($65 million) in equity into the group. 

- Indian outsourcing services provider Zensar Technologies Ltd is in acquisition talks with at least two U.S.-based companies to boost its offerings in its largest export market. A deal could cost Zensar between $20 million and $50 million, its chief executive officer, Ganesh Natarajan, said in a phone interview from the company's headquarters in the western Indian city of Pune. 

- India's two-wheeler maker Hero MotoCorp Ltd said on Monday its wholly owned unit in the United States has agreed to buy a 49.2 percent stake in superbike company Erik Buell Racing for $25 million. 

- Juice and snacks maker Sun-Rype Products Ltd has received a proposal from Great Pacific Industries Inc to take the company private in a deal valued at about C$37 million. 

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