Nestle has decided to acquire the remaining stake of 36.3% in Osem and take the Israeli food company fully private. An offer of $840 million has been made to buy out the shares, and a shareholder meeting has been scheduled in March which should reveal the final decision arrived at by the company.
Privatisation
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Argentina's stock regulator CNV on Friday rejected Braskem's $1.35 per share bid to buy roughly 30% of the shares of plastics maker Solvay Indupa that are traded on the Buenos Aires bourse. CNV said that the offer was below Solvay Indupa's book value of $2.81 per share as of September.
Lindsay Corp, manufacturer of irrigation equipment, recently announced that it will repurchase $100 million to $150 million in stock and will increase its quarterly dividend to $0.26 per share.
Arabian Business said in its report that businesses of the state of Saudi Arabia, including Prince Sultan Aviation Academy and Saudia Private Airline, will be privatized soon.
The UK government could sell off its remaining 33% stake in Lloyds Banking Group next year to complete the privatization of the lender, according to sources familiar with the process.
Braskem will acquire Argentine-Brazilian plastics maker Solvay Indupa for $290 million. It will buy 70.59% of Solvay Indupa by assuming its debt and through cash. Braskem will also purchase the remaining 29.41% of the company floated on the Buenos Aires bourse.
The following bids, mergers, acquisitions and disposals were reported on Friday including ITC Holdings, Dave & Buster, Time Warner Cable, Banca Etruria, Cube Capital, Cargolux, Simon Property and Versace.
The following bids, mergers, acquisitions and disposals were reported on Wednesday, including Fortum, National Vision, Saipem, CTT, MTS, Southern Pacific, Warrnambool, Verbund, Bakkafrost, Popular and Marathon Oil.
Private equity group Southern Capital Partners offered to buy Malaysian tertiary education provider HELP International Corp Bhd for USD111.3 million (MYR359.3 million) and plans to delist the firm should the deal be successful.
A new GBP10 billion privatization program will see Britain's 40% stake in cross-channel rail operator Eurostar sold off to help pay down UK's debts.
The following bids, mergers, acquisitions and disposals were reported on tuesday including Adcock Ingram, Energa, Nordea Bank, Alitalia, Ben Venue, TIM Participacoes, Douglas, Mercator, Novartis, OncoMed, Kerning and Malaysia Airports
Exceed Company Ltd, one of the leading domestic sportswear brands in China, today announced that it has entered into a definitive Agreement and Plan of Merger with Pan Long Company Limited
Italian state lender Cassa Depositi e Prestiti (CDP) expects to cash in around 3 billion euros ($4.1 billion) by June 2014 from the sale of minority stakes in gas and power grid networks, two sources with knowledge of the matter said on Friday.
Chinese billionaire Yuzhu Shi and a Baring Private Equity Asia affiliate sought to take Giant Interactive Group Inc. private for USD11.75 per American Depositary Share (ADS). The consortium values the Chinese online game developer at USD2.82 billion.
The following bids, mergers, acquisitions and disposals were reported on Monday including Greece banking, Fiat, BOFA, Mechel, Saputo, RBS, Lohmann, Carlyle Group, Monte dei Paschi di Siena, Kuwait Airways, Dubai Holding, SunEdison, Blackstone, Greece National Bank, IMG Worldwide, KKR, Babcock, AMR, Orrick, BAC and Fisker Automotive.
