TMCnet News
M&A Navigator: Deal pipeline - 23 August(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week: - ONECALIFORNIA BANK ACQUIRES SHOREBANK PACIFIC US Onecalifornia Bank has agreed to acquire Shorebank Pacific, the Pacific Northwest subsidiary of Shorebank Corporation. Status: Agreed - LENCO MOBILE BUYS G2AA TO BOOST PRESENCE IN AUTOMOTIVE AD MARKET US mobile and Internet advertising platforms operator Lenco Mobile (PINK:LNCM) announced it has acquired online retailer G2AA to bolster its online and mobile automotive marketing offering. Status: Closed - BELGIAN HEGGE BUYS STEEL SERVICE CENTER Belgian metal processing company Hegge announced the acquisition of sector player Steel Service Center, without providing financial details. Status: Closed - HP OFFERS TO BUY 3PAR FOR USD1.6BN, OUTBIDS DELL US PC maker HP (NYSE:HPQ) has offered to acquire data storage solutions provider 3PAR (NYSE:PAR) for USD24 per share in cash, at an enterprise value of USD1.6bn (EUR1.3bn) to speed up the development of its storage, server and networking solutions. Status: Bidding - DUTCH VIVENDA MEDIA GROEP SIGNS LOI TO BUY ZUKA Dutch Vivenda Media Groep NV has signed a letter of intent (LoI) with Vero Holding to buy its online website and multi-media unit Zuka BV in a move to strengthen its multi-media activities. Status: Exclusivity - SANTANDER SAID TO BOOST EFFORTS TO BUY POLISH BANK ZACHODNI Spanish commercial bank Banco Santander (MCE:SAN) plans to increase its efforts to acquire a 70% stake in Polish Bank Zachodni and overseas businesses from Allied Irish Banks (ISE:ALBK). Status: Bidding - GERMAN GOVERNMENT HURRIES TO SHED COMMERZBANK STAKE The German government is willing to sell its 25% stake in lender Commerzbank (ETR:CBK) as soon as it possibly could, finance minister Wolfgang Schaeuble said in an interview for local paper Rheinische Post. Status: Auction - LUKOIL, PETROKAZAKHSTAN AGREE ON TURGAI DISPUTE Kazakhstan oil and gas company Petrokazakhstan and Russian Lukoil (MCX:LKOH) have settled a 5-year long dispute on Lukoil's pre-emptive right to acquire 50% in Turgai Petroleum, a joint venture of the two companies. Status: Agreed - AGRIUM ANNOUNCES AUD1.237BN DEAL TO BUY AUSTRALIAN AWB Agrium (TSE:AGU), a global producer and trader of nutrients for the agricultural and industrial sectors, said it had signed a definitive deal to buy Australian grains marketer AWB Limited (ASX:AWB) for AUD1.50 (USD1.34/EUR1.06) per share, or total of AUD1.237bn. Status: Agreed - FRENCH REGULATORS GIVE CONDITIONAL NOD TO EUROVIA TO BUY TARMAC UNITS The French competition regulator conditionally cleared road and motorway infrastructure company Eurovia, a subsidiary of French construction group Vinci (EPA:DG), to take over units of aggregates producer Tarmac, controlled by miner Anglo American (LON:AAL). Status: Agreed - VOLKSWAGEN REPORTEDLY INTERESTED IN ALFA ROMEO German car maker Volkswagen AG (ETR:VOW), or VW, is interested in buying into Italian Alfa Romeo, part of Fiat SpA (BIT:F). Status: Speculation - ROCHE TO TAKE OVER BIOIMAGENE FOR USD100M Swiss drug maker Roche has agreed to acquire California-based pathology solutions provider Bioimagene for USD100m (EUR78.7m) in an effort to complement and enhance its offering. Status: Agreed - GERMAN PFLEIDERER LOOKING TO SELL UP TO EUR100M ASSETS TO CUT DEBT German engineered wood products specialist Pfleiderer (ETR:PFD4) plans to dispose of EUR50m (USD63.5m) to EUR100m worth of assets by this year's end, to cut debt. Status: Auction - CEVIAN, ICAHN TAKE 4.64% OF SWEDISH BANK SWEDBANK European activist fund Cevian Capital said it had bought 4.64% in Swedbank (STO:SWEDA) together with co-investor US billionaire Carl Icahn, under a long-term agreement with Icahn. Status: Closed - SBERBANK TO BUY MAJORITY OF STRABAG-DEUTSCHE BANK'S RUSSIAN JV Russia's Sberbank (MCX:SBER03) has inked a letter of intent (LoI) to buy 51% of DB Development, a local infrastructure joint venture of Austrian construction group Strabag (WBAG:STR) and German lender Deutsche Bank (ETR:DBK). Status: Exclusivity - FAS CLEARS DST TO RAISE MAIL.RU STAKE TO 99.9% Russia's competition watchdog FAS gave the go-ahead to Russian investment firm Digital Sky Technologies (DST) to boost its interest in web portal www.mail.ru to 99.9%. Status: Agreed - WABTEC CLOSES USD13M BUY OF BACH-SIMPSON US provider of railway technology Wabtec Corporation (NYSE:WAB) has closed the takeover of Bach-Simpson Corporation, a unit of Canada-based Global Railway Industries Ltd (TSE:GBI), for around USD13m (EUR10.2m). Status: Closed - US PENNWELL TAKES OVER FIRE APPARATUS MAGAZINE US magazine publisher Pennwell Corporation said it had bought Canada-based Fire Apparatus & Emergency Equipment magazine and Firemagazine.com without revealing the purchase price. Status: Closed - US WINSONIC TAKES OVER DIGITAL TELEMEDICINE FIRM US Winsonic Digital Media Group (PINK:WDMG) said it had taken over digital telemedicine company Vipmedrx for an undisclosed sum. Status: Closed - CYGNUS BUSINESS MEDIA DIVESTS INDUSTRIAL MAGAZINES US Cygnus Business Media said it had decided to sell its industrial magazines Fabricating & Metalworking, Industrial Machinery Digest and Total Industrial Plant Solutions to their long-term publishers. Status: Closed - US CANTEX IN LOI TO PURCHASE BEDFORD ENERGY US oil and gas company Cantex Energy Corp (PINK:CTXE) said it had signed a letter of intent for the takeover of sector firm Bedford Energy Inc (PINK:BFDE) without providing the acquisition price. Status: Exclusivity - GRAINGER INKS PROPERTY JV WITH MOORFIELD British property owner and developer Grainger (LON:GRI) has struck a 50/50 joint venture deal with real estate investor Moorfield through the sale of half of Sovereign Reversions for GBP17.5m (USD27m/EUR21m) plus an additional sum for the integration costs. Status: Agreed - SUMMIT PARTNERS BUYS USD100M MINORITY IN AVAST SOFTWARE Czech antivirus software developer Avast Software said US growth equity investor Summit Partners had taken a minority stake in it in exchange for an USD100m (EUR79m) investment, to support its further growth. Status: Closed - GERMAN ELRINGKLINGER ON THE LOOK-OUT FOR ACQUISITIONS German car parts maker Elringklinger (ETR:ZIL2) plans potential acquisitions of companies operating in the auto supply industry. Status: Bidding - RUSSIAN SIBUR, NIZHNEKAMSKSHINA TO TIE UP TYRE ASSETS Russian petrochemical group Sibur plans to combine its tyre operations with those of Nizhnekamskshina (RTD:NKSH) to create the largest sector player in Russia covering two-thirds of the market. Status: Agreed - CEO SAYS US 3M MAY SPEND USD2BN ON ACQUISITIONS 2010 US stationery products supplier 3M (NYSE:MMM) is looking to double to almost USD2bn (EUR1.6bn) its acquisition budget for this year. Status: Bidding - SWISS EMMI EYES ACQUISITIONS ABROAD Swiss dairy firm Emmi (SWF:EMMN) will explore this year additional small acquisitions outside Switzerland. Status: Bidding - BULGARIAN VIVACOM COMPLETES SALE OF HALF OF TRANSMISSION UNIT Bulgaria's telecom group Vivacom (BUL:5BT) has finalised the divestment of 50% of its National Unit Radio and TV Stations (NURTS) unit to Cyprus-based financial investor Mancelord for EUR57m (USD72.5m). Status: Closed - RABOBANK BUYS TWO US BANKS Dutch lender Rabobank's US unit has acquired regional banks Butte Community Bank and Pacific State Bank from the Federal Deposit Insurance Corporation (FDIC). Status: Closed - GAZPROM, NAFTOGAZ UKRAINY RENEW JOINT VENTURE TALKS Russian gas giant Gazprom (MCX:GAZP) has renewed talks for establishing a joint venture with Ukrainian peer Naftogaz Ukrainy proposed this April. Status: Talks - BROOKFIELD INFRASTRUCTURE TO BUY PRIME INFRASTRUCTURE, CREATE GLOBAL LEADER Bermuda-based infrastructure investor Brookfield Infrastructure Partners (NYSE:BIP) said it had reached a deal to take full control of Australian infrastructure assets operator Prime Infrastructure (ASX:PIH), valuing Prime at AUD1.6bn (USD1.43bn/EUR1.12bn), and become a top global sector player. Status: Agreed; Bidding - ADVENT-BACKED CONSORTIUM BUYS INTO MEXICANA A Mexican group of investors, backed up by US private equity firm Advent International, has bought a majority shareholding in burdened air carrier Mexicana de Aviacion. Status: Closed - GDF SUEZ SAID INTERESTED IN GERMAN GAS ASSETS OF EXXON MOBIL, SHELL French gas and power utility GDF Suez (EPA:GSZ) is said to be interested in taking over the gas storage business to be sold by Exxon Mobil (NYSE:XOM) and Shell (AMS:RDSB, LON:RDSA) in Germany. Status: Speculation - IRISH DCC TO BUY FRENCH CONSUMER ELECTRONICS TRADER COMTRADE Irish business support services provider DCC (ISE:DCC) said it had conditionally agreed to buy French distributor of consumer electronic and audio visual products Comtrade for initial EUR11.4m (USD14.5m) and a deferred payment of up to EUR9.8m. Status: Agreed - US DAVID GRIFFIN BECOMES DIVISION OF VIRGINIA COOK US residential real estate company Virginia Cook Realtors has bought sector player David Griffin & Company Realtors for an undisclosed sum. Status: Closed - HSBC IN EXCLUSIVE TALKS WITH OLD MUTUAL OVER MAJORITY OF NEDBANK British lender HSBC (LON:HSBA) is in exclusive talks with insurer Old Mutual (LON:OML) to acquire up to 70% of South Africa's Nedbank (JNB:NED) in a deal, which could be worth ZAR49.9bn (USD6.8bn/EUR5.4bn) Status: Exclusivity - UK MEDIA SQUARE FINALISES DISPOSAL OF 26NY UK advertising, marketing and design firm Media Square (LON:MSQ) said it had closed the sale of the trade and assets of data management specialis twentysix NewYork (26NY) to US IT consulting company Tallan, in a drive to repay debt. Status: Closed - WESTAMERICA BANCORP TO TAKE SONOMA VALLEY BANK FROM RECEIVER US bank Westamerica Bancorp (NASDAQ:WABC) announced it was buying Sonoma Valley Bank from its receiver, the Federal Deposit Insurance Corporation (FDIC). Status: Agreed - SPANISH IMAGINARIUM RAISES STAKE IN TURKISH UNIT TO 99.97% Spanish toy retailer Imaginarium (MAD:IMG) has increased its stake in its Turkish unit, Imag Cocuk Urun, to 99.97% from 60%, without providing financial details. Status: Closed - KNOC REMAINS SILENT ON POTENTIALLY RAISING DANA OFFER The Korea National Oil Corp (KNOC) does not comment on whether it would sweeten its hostile USD2.6bn (EUR2bn) cash offer for British oil group Dana Petroleum (LON:DNX), in anticipation of reaction from shareholders. Status: Bidding - CARL ZEISS ON TRACK TO TAKE MAJORITY OF EYEGLASS UNIT German optics giant Carl Zeiss is to take the majority of its struggling eyeglass lens-making joint venture, Carl Zeiss Vision, through an investment of more than EUR100m (USD127m) in it. Status: Talks - POLAND SELECTS PGE, EPH FOR FINAL ROUND OF ENERGA PRIVATISATION Poland has shortlisted local utility PGE (WAR:PGE) and Czech competitor Energeticky a Prumyslovy Holding (EPH) for the final stage of smaller peer Energa's privatisation. Status: Bidding - S KOREAN NATIONAL PENSION SERVICE WANTS TO BUY 23% IN US COLONIAL PIPELINE South Korean National Pension Service said it is interested in acquiring a 23% stake in US pipeline operator Colonial Pipeline from energy company Chevron (NYSE:CVX). Status: Bidding - CAMPBELL SOUP INTERESTED IN UNITED BISCUITS' BISCUIT ACTIVITIES US soup maker Campbell Soup (NYSE:CPB) is seeking to buy the biscuit-making business of UK food company United Biscuits for GBP1.5bn (USD2.3bn/EUR1.8bn). Status: Bidding - SABMILLER KEEN TO BUY AUSTRALIAN FOSTER'S BEER OPERATIONS London-based SABMiller (LON:SAB) is interested in buying Carlton & United Breweries, the beer making unit of Australian Foster's Group (ASX:FGL) for some GBP7bn (USD10.9bn/EUR8.6bn). Status: Speculation; Bidding - HSBC HOLDINGS TOPS RACE FOR SOUTH AFRICA'S NEDBANK UK banking and financial services company HSBC Holdings (LON:HSBA) is leading the running for a majority stake in South African Nedbank (JNB:NED). Status: Bidding ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |