TMCnet News
M&A Navigator: Deal pipeline - 26 November(M&A Navigator Via Acquire Media NewsEdge) The following is a list of deals covered in detail by M&A Navigator this week: - NORKOM GROUP CONFIRMS SALE TALKS Irish financial crime and compliance solutions provider Norkom Group (LON:NORK) confirmed it has entered into preliminary discussions with several unnamed parties to sell its entire issued share capital. Status: Talks - POSTE ITALIANE TO MAKE OFFER FOR UNICREDIT UNIT Italy’s postal service Poste Italiane will next week make a proposal to buy MedioCredito Centrale, a unit of Unicredit (BIT:UCG), to form a new entity, Bank of the South. Status: Bidding - EQT PICKS JPMORGAN, DEUTSCHE BANK TO SELL, LIST KABELBW Swedish private equity firm EQT has reportedly hired JPMorgan (NYSE:JPM) and Deutsche Bank (ETR:DBK) to seek buyers for German cable operator Kabel Baden-Wuerttemberg or to prepare its initial public offering (IPO). Status: Auction - ITALY’S ENEL DISCUSSES SALE OF BULGARIAN POWER PLANT WITH TWO SIDES Italian utility Enel (BIT:ENEL) is in discussions with two unknown sides for a possible sale of Bulgarian power station Maritza East 3 in a drive to reduce debt. Status: Talks - PIRELLI SAYS IN MOU ON JV DEAL WITH RUSSIAN TECHNOLOGIES, SIBUR Italian tire maker Pirelli (BIT:PC) said it had entered a memorandum of understanding (MOU) on joint venture operations in Russia with local Russian Technologies and petrochemical group Sibur. Status: Exclusivity - UK AMEC BUYS AUSTRALIAN CONSULTANCY BURMANGRIFFITHS British consultancy and project management service provider Amec (LON:AMEC) said it has bought Australian estimating and programming services provider BurmanGriffiths for AUD4.5m (USD4.3m/EUR3.3m) in cash. Status: Closed - SWISSCOM HIKES FASTWEB SHAREHOLDING TO 94.8% Swiss telecom group Swisscom (VTX:SCMN) has raised its holding in Italian broadband provider Fastweb (BIT:FWB) to 94.834% following a voluntary offer for the company. Status: Closed - RUSSIAN TATNEFT TAKES FULL CONTROL OF TATEX Russian oil and gas company Tatneft (MCX:TATN) said it had acquired the remaining 50% of Tatex, which has licenses for oil fields in Tatarstan, and thus gained full control of the oil producer. Status: Closed - HARBINGER CAPITAL COULD SELL STAKE IN FRENCH UBISOFT US hedge fund Harbinger Capital could probably sell its 9% stake in French video games developer Ubisoft (EPA:UBI). Status: Auction - ROMANIA TO EXIT ROMTELECOM, INVITES OFFER FROM OTE BY YEAR-END The Romanian communications ministry announced plans to dispose of its 45.99% in the country’s telecom Romtelecom and asked Greek OTE (ATH:HTO), the majority owner with 54.01%, to make an offer by the end of this year. Status: Talks - RUSSIAN RAILWAYS IN TRAFFIC SYSTEMS JV DEAL WITH FINMECCANICA Vladimir Yakunin, chief executive of Russia's state-run railroad group Russian Railways, said that his company plans to form a joint venture with Italian aerospace and defence giant Finmeccanica (BIT:FNC) to make railway traffic control systems in Russia. Status: Exclusivity - JAPAN'S ARISAWA LOOKS AT BEKAERT'S DESALINATION DIVISION Japan-based manufacturing company Arisawa (TYO:5208) is interested in buying the desalination division of Belgian metal producer Bekaert (EBR:BEKB), Katelijn Bohez, a spokeswoman for Bekaert said. Status: Talks - HENRY BROS TO PROCEED WITH KRATOS’ USD51M BUYOUT BID US electronic security systems provider Henry Bros Electronics (NASDAQ:HBE), or HBE, said that it will put to the vote the USD51m (EUR38.5m) takeover offer made by local sector firm Kratos Defense & Security Solutions (NASDAQ:KTOS), after HBE ended its acquisition talks with Diebold (NYSE:DBD). Status: Agreed - UK NESTOR HEALTHCARE GETS GBP1.10 P/S REVISED APPROACH FROM ACROMAS UK healthcare and social care services firm Nestor Healthcare (LON:NSR) said it had received a revised GBP1.10 (USD1.73/EUR1.30) per share indicative approach from Acromas Holdings. Status: Talks - HEALTHCARE LOCUMS SEALS AUD122M DEAL TO BUY AUSTRALIAN PEER UK Healthcare Locums (LON:HLO), a recruiter of healthcare and social care staff, said it had sealed an agreement to buy peer Healthcare Australia Holdings (HCA) for cash AUD122.5m (USD118.2m/EUR89.2m), from CHAMP Private Equity and private individuals. Status: Agreed - CPI INTL AGREES TO USD19.50 P/S TAKEOVER BY VERITAS CAPITAL US microwave and radio frequency (RF) products maker CPI International (NASDAQ:CPII) said it has agreed to be acquired by private equity firm Veritas Capital Fund for nearly USD525m (EUR397m), or USD19.50 per share in cash. Status: Agreed - RUSSIAN BANKS WILLING TO BUY INTO BRITISH FINANCIAL FIRMS Some of Russia's major banks are planning to acquire stakes in UK companies operating in the financial sector. Status: Bidding - UK CHESNARA TO BUY SAVE & PROSPER GROUP FOR GBP63.5M UK Chesnara (LON:CSN), a provider of life assurance and pension policies, said it had conditionally agreed to buy Save & Prosper Group from JPMorgan Asset Management Marketing for GBP63.5m (USD100m/EUR75.25m), a 31.7% discount to its embedded value as estimated by Chesnara directors. Status: Agreed - IGNIS TO BUY NORWEGIAN SMARTOPTICS Norwegian optical components supplier Ignis (OSL:IGNIS) unveiled an agreement to buy Norwegian supplier of optical sub-systems SmartOptics at an enterprise value of NOK89.6m (USD14.6m/EUR11m). Status: Agreed - SWISS INTERROLL TO ACQUIRE CONVEYOR SOLUTIONS AUSTRALIA Swiss materials handling, logistics and automation firm Interroll Holding (SWF:INRN) said it is buying its licencee partner Conveyor Solutions Australia (CSA) as of 1 January 2011. Status: Agreed - CLAYTON, DUBILIER & RICE GETS EU NOD TO BUY STAKE IN UNIVAR The European Commission (EC) said it has cleared US private equity firm Clayton, Dubilier & Rice's proposed acquisition of a 42.5% stake in Dutch chemicals company Univar from buyout firm CVC Capital Partners. Status: Agreed - CALLEBAUT'S SALE OF GERMAN UNIT STOLLWERCK NOT URGENT Swiss chocolate maker Barry Callebaut (SWF:BARN) is still willing to dispose of its German subsidiary Stollwerck, but is not in a rush. Status: Auction - POLAND'S SOLORZ-ZAK SAID TO SEEK PRIVATE EQUITY PARTNER TO BID FOR POLKOMTEL The advisors to Polish businessman Zygmunt Solorz-Zak are talking to private equity firms over the possibility of a joint bid for telecommunications group Polkomtel worth some EUR4bn (USD5.3bn) and expected to be soon offered for sale. Status: Bidding - DEUTSCHE BANK TAKES CONTROLLING STAKE IN POSTBANK Deutsche Bank (ETR:DBK) said it had gained majority in Postbank (ETR:DPB), after securing a further 21.48% stake in the German lender via its EUR25 (USD33) per share tender offer. Status: Bidding - FRENCH SFL AGREES TO BUY 30% OF SIIC French real estate firm Societe Fonciere Lyonnaise (EPA:FLY) said it has agreed to acquire a 30% stake in sector player SIIC de Paris (EPA:IMMP), a unit of Spanish rival Realia (MCE:RLIA), in return for EUR286m (USD378.9m) in assets. Status: Agreed - FIAT TO SET UP JV WITH CHRYSLER AT MIRAFIORI PLANT Italian carmaker Fiat (BIT:F) plans to create a joint venture with US sector player Chrysler to produce Alfa Romeo and Jeep branded cars at its Turin's Mirafiori plant, chief executive Sergio Marchionne said. Status: Agreed - UK CHRYSALIS AGREES TO BMG'S GBP107.4M TAKEOVER OFFER UK music publisher Chrysalis (LON:CHS) said its board had agreed to and recommended the cash GBP107.4m (USD169m/EUR127.3m) takeover offer from Forte Bidco 1 Limited, a fully owned unit of BMG Luxco. Status: Agreed - BALTIC OIL SELLS SHELTON SHARES FOR SEK27.6M Baltic Oil (LON:BTC), an operator of hydrocarbon transhipment terminals in Russia and the UK, said it had disposed of 46m class B shares in Swedish oil and gas company Shelton Petroleum (NGM:PETS) for SEK27.6m (USD3.96m/EUR2.98m), reducing its stake in the company to some 1.5%. Status: Closed - MILLENNIUM & COPTHORNE RAISES BEIJING FORTUNE HOTEL STAKE TO 70% FOR CNY189.25M UK-based global hotel operator Millennium & Copthorne Hotels (LON:MLC) said it had bought a further 40% in Beijing Fortune Hotel Co, for CNY189.257m (USD28.4m/EUR21.4m), increasing its total holding in the company to 70%. Status: Closed - NWR DISMISSES REPORT ON SWEETENED BOGDANKA OFFER Czech coal producer New World Resources (PRG:BAANWR), or NWR, said it would not hike it USD1.2bn (EUR902m) takeover offer for Polish coal miner Bogdanka (WAR:LWB) which it believed was full and fair. Status: Bidding - SPANISH EBRO IN AUD600M DEFINITIVE DEAL TO BUY AUSTRALIAN SUNRICE Spanish food group Ebro Puleva (MCE:EVA) said in a statement it had struck a definitive deal worth AUD600m (USD582.2m/EUR437.5m) to buy Australian rice supplier Ricegrowers (NSX:RGWB), trading as SunRice. Status: Agreed - ANADOLU EFES SAYS NOT TALKING TO JAPAN'S ASAHI ON POTENTIAL DEAL Turkish brewery Anadolu Efes (ST:AEFES) ruled out media speculation that it was negotiating to be acquired by Japan's Asahi Breweries (TYO:2502) and said it would prefer to remain a standalone company. Status: Denied - DUTCH HAL COMPLETES SALE OF AUSTRALIAN OPTICIAN CHAIN OPTIFASHION Dutch investment company HAL Holding (AMS:HAL) unveiled the completion of the sale of Australian optician chain Optifashion to Luxoticca Retail Australia, without providing financial details. Status: Closed - TURKISH YILDIRIM TO BUY 20% IN FRENCH CMA CGM FOR USD500M Turkish mining and shipping group Yildirim said it has agreed to buy a 20% stake in French shipping company CMA CGM for USD500m (EUR375.8m). Status: Agreed - NWR HIKES TAKEOVER OFFER FOR BOGDANKA Netherlands-based coal producer New World Resources (PRG:BAANWR), or NWR, has sweetened its USD1.2bn (EUR902m) offer for Polish coal miner Bogdanka (WAR:LWB), Reuters said Friday citing Marcin Zoltek, chief investment officer at pension fund Aviva. Status: Bidding - FRENCH CASINO SAYS VENEZUELA TO BUY 80.1% IN CATIVEN FOR USD690M French retailer Casino (EPA:CO) said the government of Venezuela will pay USD690m (EUR519m) for 80.1% in its local unit Cativen, under a partnership agreement. Status: Agreed - TURKEY TERMINATES ADABANK SALE The Turkish savings deposit insurance fund TMSF has called off the sale of local bank Adabank, as the only bid submitted for the lender was too low. Status: Terminated - MAHINDRA & MAHINDRA TO BUY 5.5% IN TECH MAHINDRA FROM UK BT GROUP Indian diversified group Mahindra & Mahindra (BOM:500520) will buy up to 5.5% in IT solutions unit Tech Mahindra (BOM:532755) from UK communications group BT (LON:BT.A), subject to certain conditions, the two partners said. Status: Agreed - DEL MONTE FOODS AGREES ON USD4BN LBO BY KKR-LED GROUP US pet food group Del Monte Foods (NYSE:DLM) has agreed to be acquired by an investor group led by private equity firms KKR & Co (NYSE:KKR), Vestar Capital and Centerview Partners for USD5.3bn (EUR4bn), including the assumption of USD1.3bn debt. Status: Agreed - APAX PARTNERS TO BUY MAJORITY OF ADVANTAGE SALES & MARKETING UK private equity firm Apax Partners unveiled an agreement to buy a majority interest in marketing agency Advantage Sales & Marketing, or ASM, from US buyout firm JW Childs Associates and Bank of America (NYSE:BAC). Status: Agreed - CARLYLE REPORTEDLY BIDDING FOR S KOREAN WOORI US private equity group Carlyle has placed an expression of interest for the acquisition of a stake in South Korean bank Woori Finance (SEO:053000). Status: Bidding - CHINA MINSHENG BANKING READY TO PROVIDE FUNDS FOR XINMAO'S DRAKA OFFER China Minsheng Banking Corp (HKG:1988) is ready to provide financing for Chinese Xinmao Group's proposed EUR1bn (USD1.3bn) acquisition of Dutch cable maker Draka Holding (AMS:DRAK). Status: Talks - BARING VOSTOK CAPITAL PARTNERS TO BUY STAKE IN ORIENT EXPRESS BANK Russian private equity firm Baring Vostok Capital Partners, or BVCP, has agreed to buy an about 20% stake in Orient Express Bank. Status: Agreed - HGCAPITAL MULLS OVER SELLING GERMAN LIGHTING FIRM SLV GROUP UK private equity firm HgCapital is considering selling German lighting firm SLV Group. Status: Auction - UKRAINE PLANS TO PRIVATISE THREE BANKS FOR USD2.1BN Ukraine's government said it intends to privatise three banks, which the state acquired during the economic and financial crisis, and hopes to fetch at least USD2.1bn (EUR1.6bn) from their sale. Status: Auction - FRANCE'S TOUR EIFFEL ON THE HUNT FOR MERGER, FUNDING PARTNERS French property portfolio manager Societe de la Tour Eiffel (EPA:EIFF) is seeking a partner to merge with or to share funding for future investments. Status: Talks - ORKLA SEEKS TO SELL NORWAY'S BAKERS BY END OF H1 2011 Norwegian conglomerate Orkla (OSL:ORK) said it is commencing a sale process for its local bakery firm Bakers, aiming to dispose of it by the end of the first half of 2011. Status: Auction - SOUTHERN CROSS SAYS STILL TALKING WITH POTENTIAL BUYERS UK care home operator Southern Cross Healthcare (LON:SCHE) said it has remained in talks with other potential buyers after investor Towerbrook Capital decided to drop plans to make an offer for the company. Status: Talks - E.ON'S SALE OF GAZPROM STAKE TO VEB MAY BE ANNOUNCED ON FRIDAY German gas supplier E.ON Ruhrgas' deal to sell its 3.5% stake in Russian Gazprom (MCX:GAZP) to Russian state-owned bank VEB may be announced on Friday. Status: Talks - APAX NEARS USD1.8BN DEAL TO BUY ASM British Apax Partners is near a USD1.8m (EUR1.3bn) deal to acquire Advantage Sales & Marketing (ASM) from US fellow private equity firm JW Childs Associates and Bank of America Corp (NYSE:BAC). Status: Speculation, Agreed - KDDI REPORTEDLY INTERESTED IN AUSTRIAN S&T Japanese telecomms group KDDI Corp (TYO:9433) is said to be interested in buying into Austrian S&T System Integration & Technology Distribution (WBAG:SNT). Status: Speculation - CEO SAYS THOMAS COOK TO ENTER CHINA IN 2012 Manny Fontenla-Novoa, the chief of UK tour operator Thomas Cook (LON:TCG), said that his company planned to enter the Chinese market through an acquisition, likely to happen in 2012, after it moved into Russia today with a joint venture deal. Status: Bidding - PORTUGAL'S CAMAC EYES MOZAMBICAN RUBBER MANUFACTURER Portuguese tyre maker Camac Pneus is close to buying state-controlled rubber manufacturer Mabor Mocambique. Status: Bidding - FRENCH AFFINE REOPENS TALKS OVER AFFIPARIS PARTIAL SALE French property investor Affine (EPA:IML) has resumed talks to partially dispose of its controlling stake in real estate investment trust AffiParis (EPA:FID). Status: Talks - TIANJIN CITY OFFICIAL SAYS GOVT SUPPORTS XINMAO'S OFFER FOR DRAKA Chinese Xinmao Group's bid to buy Dutch cable maker Draka (AMS:DRAK) has the full support of the local government in Tianjin. Status: Talks - TURKISH OIB GETS 39 OFFERS FOR THREE POWER GRIDS The privatisation of three Turkish power grids has attracted a total 39 bids. Status: Auction - KKR REPORTEDLY BACK IN BIDDING RACE FOR GERMAN BHF US investor Kohlberg Kravis & Roberts, or KKR (NYSE:KKR), is said to be back in the sale talks for German BHF, the wealth management unit of Deutsche Bank (ETR:DBK). Status: Bidding, Speculation - REGAL PETROLEUM SAYS IN EARLY TALKS WITH A NUMBER OF POTENTIAL BUYERS UK oil and gas exploration company Regal Petroleum (LON:RPT) said it was in preliminary talks with a number potential buyers, which may or may not result in a deal. Status: Talks - PHOSAGRO REPORTEDLY STUDIES MERGER WITH SIBUR'S FERTILISER ARM Russian fertiliser producer Phosagro is reviewing a potential merger with the fertiliser unit of petrochemicals group Sibur Holding. Status: Talks - SWISS ALSO, GERMAN ACTEBIS TIE-UP TO BE POSTPONED FOR Q1 2011 Swiss communication technology and IT distributor Also Holding (SWF:ALSN) said that the closing of the intended merger with German sector player Actebis GmbH will be delayed for the first three months of 2011. Status: Delayed - FRANCE TELECOM IN TALKS TO TAKE MINORITY STAKE IN IRAQI KOREK France Telecom (EPA:FTE) is negotiating the acquisition of a minority interest in Iraqi mobile operator Korek Telecom in a deal that would value Korek at USD1.5bn (EUR1.13bn). Status: Talks - CHINESE XINMAO SECURES FINANCING FOR DRAKA TAKEOVER Chinese Xinmao Group has obtained a commitment from a leading Chinese bank to provide financing for the company's EUR1bn (USD1.3bn) proposed acquisition of Dutch cable maker Draka Holding (AMS:DRAK). Status: Talks - KOC HOLDING EYES UNICREDIT'S INTEREST IN YAPI KREDI Turkish holding company Koc Holding (IST:KCHOL) is willing to buy the stake of its partner in Yapi Kredi Bank (IST:YKBNK), if Italian banking group Unicredit (BIT:UCG) decides to sell it. Status: Bidding - CARLYLE BIDS USD619M TO BUY QSR BRANDS IN MALAYSIA Malaysian palm plantation firm Kulim (KUL:KULIM) said US private equity firm Carlyle is ready to pay MYR1.94bn (USD619m/EUR465m) to buy Malaysian investment holding company QSR Brands (KUL:QSR). Status: Bidding - RUSSIA SEEKS TO RAISE AT LEAST USD3BN WITH VTB STAKE SALE Russia has expressed its willingness to sell a stake in the country's second largest bank VTB in a move to raise at least USD3bn (EUR2.2bn) with the divestment. Status: Talks - US EGM ANNOUNCES LOI TO TAKE OVER JAPANESE GID US medical diagnostic tests provider EGM International Inc (PINK:EGML) has signed a letter of intent for the 100% takeover of Japanese GID Solutions Co Ltd in exchange for 60% of its share capital, the two companies said in a statement. Status: Exclusivity - TWO PRIVATE EQUITY FIRMS JOIN RACE FOR DEL MONTE FOODS Vestar Capital Partners and a fund led by Centerview partner James Kilts are also keen to buy US Del Monte Foods (NYSE:DLM), which makes canned vegetables and pet food. Status: Talks, Bidding - ITALIAN SNAI IN EXCLUSIVE TALKS TO SELL STAKE Italian gaming and betting services provider SNAI (BIT:SNA) announced exclusive talks with private equity firms Investindustrial and Venice European Investment Capital, which are seeking to enter the company's capital. Status: Exclusivity - E.ON COULD SHED GAZPROM STAKE TO VEB German gas supplier E.ON Ruhrgas could sell its 3.5% stake in Russia's gas major Gazprom (MCX:GAZP) to local development bank Vnesheconombank (VEB) next month. Status: Talks - TURKISH ADABANK'S TENDER ATTRACTS ONLY BANK POZITIF Turkish lender Bank Pozitif, controlled by Israeli Bank Hapoalim (TLV:POLI), emerged as the only bidder for smaller peer Adabank in a tender that took place today. Status: Bidding - POLAND'S TREASURY MIN EXTENDS DEADLINE FOR RAFAKO'S BID FOR PAK Poland's treasury ministry has allowed to boiler maker Rafako (WAR:RFK) to place its bid for the state’s stake in power utility PAK and make proof of financing until 15 December 2010. Status: Exclusivity - HANA FINANCIAL CONFIRMS 51% STAKE PURCHASE IN KEB South Korean financial holding company Hana Financial (SEO:086790) said it would buy US private equity firm Lone Star's 51% stake in Korea Exchange Bank (SEO:004940), or KEB. Status: Exclusivity - DRAKA ENTERS TALKS WITH XINMAO OVER PROPOSED TAKEOVER The board of Dutch cable maker Draka Holding (AMS:DRAK), its advisors and Chinese Tianjin Xinmao (SHE:000836) have started talks over the proposed acquisition of Draka by the Chinese firm. Status: Talks - NWR SHAREHOLDERS CLEAR PLAN FOR USD1.15BN BUY OF POLISH BOGDANKA Dutch-based hard coal producer New World Resources (PRG:BAANWR), or NWR, said its shareholders have approved the plan for its PLN3.427bn (USD1.15bn/EUR863m) hostile acquisition of Polish coal miner Bogdanka (WAR:LWB). Status: Bidding - RUSSIA'S FIN MIN SAYS VTB EYES MOSCOW'S 46% IN BANK OF MOSCOW Russian state-controlled bank VTB (MCX:VTBR) is considering the acquisition of the 46% stake in Bank of Moscow (MCX:MMBM) owned by the local government of Moscow. Status: Bidding - UK HEALTHCARE LOCUMS IN EXCLUSIVE TALKS TO BUY HEALTHCARE AUSTRALIA UK Healthcare Locums (LON:HLO), a recruiter of healthcare and social care staff, confirmed it was in exclusive talks to potentially buy peer Healthcare Australia Holdings Pty Ltd, as part of an announced strategy to grow through acquisitions. Status: Exclusivity - BELGIAN REALDOLMEN EYES MERGERS, ACQUISITIONS Belgian ICT services provider RealDolmen (EBR:REA) is negotiating with peers, including Dutch Ordina (AMS:ORDI) and Qurius (AMS:QRIUS), possible merger or takeover deals. Status: Talks - DYNAMEX RECEIVES BUYOUT PROPOSAL OF USD23.50 P/S US same-day delivery and logistics services provider Dynamex (NASDAQ:DDMX) has received a superior buyout offer of USD23.50 (EUR17.55) per share. Status: Bidding - US TRANSCAT REVEALS LOI TO TAKE OVER WIND TURBINE TOOLS US test and measurement instruments distributor Transcat Inc (NASDAQ:TRNS) said it has signed a non-binding letter of intent to take over Wind Turbine Tools Inc for an undisclosed sum. Status: Exclusivity - HANA FINANCIAL BOARD BACKS MAJORITY STAKE PURCHASE IN KEB South Korean financial holding company Hana Financial (SEO:086790) has received board approval to buy US private equity company Lone Star's 51% stake in Korea Exchange Bank (SEO:004940), or KEB, for some USD4.1bn (EUR3.1bn). Status: Talks - CERBERUS PUTS CHRYSLER FINANCIAL UP FOR SALE Private equity firm Cerberus Capital Management is seeking buyers for US auto lender Chrysler Financial. Status: Auction - E.ON RUHRGAS MULLS OVER SELLING 3.5% IN GAZPROM German gas supplier E.on Ruhrgas plans to sell a 3.5% stake in Russian oil and gas group Gazprom (MCX:GAZP) to Russian state-owned bank VEB. Status: Auction - CHINA ON TRACK TO CREATE CONTAINER SHIPPING JV WITH RUSSIA, GERMANY China is prepared to form a container shipping joint venture with Russian sector player TransContainer and German partners, Vladimir Yakunin. Status: Talks - PAI PARTNERS SAID TO EXPECT BIDS FOR YOPLAIT IN DEC French private equity firm PAI Partners expects bids for its 50% in local dairy products maker Yoplait in December 2010. Status: Auction - RUSSIA PLANS TO OFFLOAD 15% IN ROSNEFT Russia intends to sell a 15% stake in Russian oil and gas company Rosneft (MCX:ROSN) on the open market, according to a presentation of the Economy Ministry. Status: Auction - CARLYLE, ADVENT TO JOIN FORCES ON BID FOR USD997M PATNI STAKE US private equity firms Carlyle and Advent are considering to place a joint bid over the next two weeks to buy 63% in Indian software and services firm Patni Computer Systems (BOM:532517), valued at some INR45.43bn (USD997m/EUR740m). Status: Bidding - BLACKSTONE TO CANCEL USD5 P/S FINAL TAKEOVER BID FOR DYNEGY US private equity firm Blackstone (NYSE:BX) announced plans to call off its final USD5 (EUR3.68) per share cash takeover offer for power utility Dynegy (NYSE:DYN), after the latter’s board said it expected shareholders to vote against it. Status: Bidding - CEO SAYS UK OXFORD INSTRUMENTS ON THE LOOK-OUT FOR BUYS IN US, GERMANY Jonathan Flint, the chief of UK high-technology instruments specialist Oxford Instruments (LON:OXIG), said that his company was eyeing medium-sized acquisition targets, mainly in the US and Germany, to add to its technical capabilities. Status: Bidding - EDF TAKES REGULATORY STEPS IN US TO SELL CONSTELLATION STAKE French power utility EDF (EPA:EDF) said in a statement that it had followed the requirements of the US stock market regulator to be able to sell part of its entire stake in Constellation Energy (NYSE:CEG) when it wishes to. Status: Auction - GEMINA STAKE SALE REPORT PUSHES COMPANY SHARES UP Shares in Italian investment holding company Gemina (BIT:GEM) gained 1.8% on reported interest from Singapore’s Changi Airport to boost its holding in the company, majority shareholder of Rome airport operator ADR. Status: Speculation - LUCERNE CAPITAL BACKS PRYSMIAN OFFER FOR DRAKA Hedge fund Lucerne Capital Management, which holds some 5% in Dutch cable maker Draka Holding (AMS:DRAK), prefers the takeover bid of Italian sector player Prysmian (BIT:PRY) to that of China’s Tianjin Xinmao (SHE:000836). Status: Bidding - CEO SAYS PRYSMIAN STICKS TO DRAKA OFFER Valerio Battista, CEO of Italian cable maker Prysmian (BIT:PRY), said the company was not considering to match the EUR20.50 (USD27.8) cash offer of China’s Tianjin Xinmao (SHE:000836). Status: Bidding - HOMESERVE SAYS CEO TO SELL 29% STAKE Richard Harpin, the chief executive of UK home insurance group HomeServe (LON:HSV) will sell 16m company shares, or 29%, for a price still to be agreed, reducing his stake to 12%, the company said in a release. Status: Auction - COAL INDIA IN TALKS TO BUY STAKE IN PEABODY’S AUSTRALIAN OPS Coal producer Coal India (BOM:533278) is in advanced discussions with US peer Peabody Energy (NYSE:BTU) to acquire a stake in its Australian business for USD200m (EUR147.6m), the buyer’s chairman Partha Bhattacharyya said. Status: Talks - XINMAO, DRAKA SAID TO FORM PERFECT FIT Chinese optical communication network and software products developer Tianjin Xinmao (SHE:000836) and Dutch cable maker Draka Holding (AMS:DRAK) complement excellently each other as there is almost no overlap between the mutual activities, Joseph Krant of Catalyst Advisors said. Status: Bidding - ACP CAPITAL TO SELL ITS 29.14% IN DAVENHAM, BIDS EXPECTED BY 5 DEC Jersey-based investor ACP Capital (LON:APL) said it will sell its entire 29.14% stake in corporate lender Davenham (LON:DAV) and invited bids by 5 December 2010. Status: Auction - GENSPRING IN ADVANCED TALKS ON EUROPEAN FIRM ACQUISITION US wealth manager GenSpring Family Offices is negotiating to acquire a European wealth advisory firm, Santiago Ulloa, president of the company’s international division, said without revealing its name. Status: Talks - ZODIAC SAYS SEEKING NEW BUYS TO GROW French aircraft components maker Zodiac Aerospace (EPA:ZC) will continue to pursue new acquisitions as well as organic growth as part of a development strategy focused on profitability, the company said in its first financial report since rejecting an informal takeover approach from French defence group Safran (EPA:SAF) in July 2010. Status: Bidding - BAIN’S INTEREST IN SEAGATE TECH REPORTEDLY FADES US private equity firm Bain Capital is reportedly losing interest in buying Irish hard-disk drive maker Seagate Technology (NASDAQ:STX). Status: Speculation - TPG CAPITAL, LEONARD GREEN CLOSE TO BUYING J CREW Private equity firms TPG Capital and Leonard Green & Partners are nearing an agreement to buy US fashion retailer J Crew (NYSE:JCG) for some USD2.8bn (EUR2.1bn). Status: Talks - PAULSON TO SELL HARRAH’S STAKE DESPITE CANCELLED LISTING US hedge fund Paulson & Co will proceed with the planned sale of its 9.9% interest in gaming giant Harrah’s Entertainment despite the latter’s announcement it had cancelled its IPO. Status: Auction - APM TERMINALS LOOKS AT ACQUISITIONS, JVS ON EMERGING MARKETS APM Terminals, part of Danish shipping company A.P. Moller-Maersk (CPH:MARSK A), is exploring potential acquisitions and joint ventures in China, India and Vietnam, Martin Christiansen, CEO for APM Terminals’ Asia-Pacific region. Status: Bidding - CEO UNVEILS HANA FINANCIAL’S DECISION TO BUY MAJORITY IN KEB South Korean financial holding company Hana Financial (SEO:086790) has decided to acquire a majority interest in Korea Exchange Bank (SEO:004940), or KEB, the country’s fifth largest lender, Hana CEO Kim Seung-yu said. Status: Bidding - CANADIAN POTASH ONE OKAYS TAKEOVER BY GERMAN K+S German fertilisers producer K+S (ETR:SDF) revealed that Canadian potash properties developer Potash One Inc (TSE:KCL) had given its approval to a CAD4.50 (USD4.41/EUR3.25) per share takeover offer by the German company. Status: Bidding - BILLIONAIRE ICAHN EXTENDS LIONS GATE TENDER OFFER Billionaire investor Carl Icahn said the tender period for outstanding shares in Canadian film studio Lions Gate Entertainment (NYSE:LGF) had been extended until 2 December, as shareholders are reluctant to sell off. Status: Bidding - RUSSIA MAY CUT SBERBANK, VTB, ROSSELKHOZBANK STAKES TO BELOW 50% BY 2015 The Russian government may lower its stakes in banks Sberbank (MCX:SBER03), VTB (MCX:VTBR) and Rosselkhozbank to below 50% by 2015. Status: Auction - SWISS ROCHE ON THE HUNT FOR ACQUISITIONS Swiss drug maker Roche (VTX:ROG) is exploring potential acquisitions despite its current focus on cost savings. Status: Bidding - CHINA TIANJIN XINMAO ENTERS RACE FOR DRAKA WITH EUR20.50 P/S BID Chinese optical communication network and software products developer Tianjin Xinmao (SHE:000836) submitted a EUR20.50 per share cash offer for Dutch Draka Holding (AMS:DRAK), valuing the cable maker at EUR1bn (USD1.4bn) in total. Status: Bidding - PRYSMIAN MAKES COUNTER BID FOR DUTCH CABLE MAKER DRAKA Italian cable maker Prysmian (BIT:PRY) has submitted a rival EUR17.20 (USD23.65) per share offer for its Dutch peer Draka Holding (AMS:DRAK), outbidding French sector player Nexans’ (EPA:NEX) EUR15 per share cash proposal. Status: Bidding - DUTCH DRAKA FORMALLY REBUFFS NEXANS’ TAKEOVER BID Dutch cable maker Draka Holding (AMS:DRAK) formally turned down the unsolicited indicative non-binding EUR15 (USD20.63) per share cash offer of French sector player Nexans SA (EPA:NEX). Status: Bidding - ONE EQUITY PARTNERS ALLEGEDLY LAUNCHES SALE OF SUED-CHEMIE’S STAKE US private equity firm One Equity Partners, or OEP, is said to have initiated the sale of its majority 50.41% interest in German speciality chemicals group Sued-Chemie (ETR:SUC). Status: Speculation, Auction - AUSTRALIAN ANZ NOT PLANNING TO OUTBID HANA FINANCIAL IN KEB RACE Australia and New Zealand Banking Group (ASX:ANZ) has no plans to submit a higher offer than the USD4.1bn (EUR3bn) bid of South Korean financial holding company Hana Financial (SEO:086790) to get a controlling stake in Korea Exchange Bank (SEO:004940), or KEB. Status: Talks, Bidding - EXXON MAY SELL FUEL RETAIL BUSINESS IN SCOTLAND US commodity petrochemicals group Exxon Mobil Corp (NYSE:XOM) said it was looking into a potential sale of its 100 petrol stations in Scotland that had already drawn interest from a number of possible buyers. Status: Auction - DEUTSCHE POST MULLS OVER SELLING US EXEL TRANSPORTATION SERVICES UNIT German postal service group Deutsche Post (ETR:DPW) is considering selling its US transportation unit Exel Transportation Services. Status: Auction - EMC LAUNCHES TAKEOVER OFFER FOR US ISILON SYSTEMS US corporate data storage equipment maker EMC Corp (NYSE:EMC) said it has launched its takeover bid for network attached storage (NAS) systems provider Isilon Systems (NASDAQ:ISLN) offering USD33.85 (EUR24.62) per share in cash. Status: Bidding - GROUPON REPORTEDLY WEIGHS SALE TO GOOGLE US privately-held coupon website Groupon is mulling over a potential sale of the company to Google (NASDAQ:GOOG) and is currently in talks with the search engine. Status: Speculation - AIG TO GET FIRST-ROUND BIDS FOR TAIWAN LIFE INSURANCE UNIT IN DECEMBER US insurer AIG (NYSE:AIG) is expected to obtain first-round bids for its Taiwanese Nan Shan Life unit at the beginning of next month. Status: Auction - JAPAN’S MARUBENI LOOKS AT UK KWIK-FIT Japanese general trading company Marubeni (TYO:8002) plans to make a GBP650m (USD1bn/EUR757m) takeover bid for UK car service chain Kwik-Fit. Status: Bidding - ENERGY DRINK PRODUCER ROCKSTAR STUDIES OPTIONS, INCLUDING SALE Energy drink Rockstar’s owners have hired US investment bank Goldman Sachs (NYSE:GS) to review alternatives for the company, including a sale. Status: Speculation - AIG SEEKS BUYER FOR RAIL-CAR UNIT US insurer AIG (NYSE:AIG) is selling its rail-car unit. Status: Auction ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |