Deals of the day -- mergers and acquisitions

Wed Mar 27, 2013 4:06pm EDT
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March 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Octo Telematics, an Italy-based company that makes vehicle recording devices for the auto insurance market, is looking for a buyer and will send information to potential bidders in the second part of April, a person close to the matter said.

** The Finnish state should reduce its controlling stake in Finnair, its new board chairman said, which would allow the airline to seek more alliances, mergers and acquisitions.

** Nigeria has offered to sell a major power station to the Chinese engineering firm that has upgraded the plant, the privatization agency said, as it aims to end power shortages that are the biggest brake on economic growth. State-owned China Machinery Engineering Corporation (CMEC) completed the second phase of the Omotosho power plant in southwest Nigeria last month, taking total output from 375 megawatts (MW) to 500 MW.