June 14, 2013 / 1:43 PM / 4 years ago

Deals of the day -- mergers and acquisitions

June 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** China’s Sinopec is negotiating to join a $20 billion liquefied natural gas project run by Russia’s Novatek, a source close to the talks said, which would be the biggest foray yet by a Chinese firm into Russia’s Arctic.

** India kicked off its plan to raise 400 billion rupees ($6.92 billion) through asset sales this fiscal year with the sale of a stake in trading firm MMTC Ltd, whose discounted share offering was oversubscribed on Thursday.

** British mobile firm Vodafone is considering raising its offer for Kabel Deutschland after an initial 7.2 billion euro ($9.6 billion) bid was knocked back by Germany’s biggest cable operator, one person close to the matter said.

** JPMorgan Chase & Co said its private equity unit, One Equity Partners, will become independent from the bank and raise future funds from an external group of partners. One Equity currently manages about $4.5 billion in investments for JPMorgan.

** PetroChina Co Ltd is entering a joint venture contract with Taikang Asset and the Guolian Fund, to which it will contribute its 20 billion-yuan ($3 billion) West Pipeline Assets, it said in a filing with the Hong Kong Stock Exchange on Friday.

** Ocwen Financial Corp said it would buy mortgage servicing rights and related advances from OneWest Bank for $2.53 billion, the latest in a string of acquisitions that have fueled the company’s explosive growth and nearly tripled its shares over the past year.

** EnBW, Germany’s No. 3 utility, will increase its asset sale programme to at least 2.5 billion euros ($3.3 billion) from a previously planned 1.5 billion, German paper Handelsblatt said on Friday, without citing sources.

** New York utility regulators on Thursday approved Canadian power company Fortis Inc’s $1.5 billion purchase of CH Energy Group Inc, the parent of New York power company Central Hudson.

** Indonesian budget carrier PT Citilink Indonesia, a unit of state-owned carrier PT Garuda Indonesia, plans to expand its fleet to 50 planes and sell a 30 percent stake in a public offering by 2015, the company’s CEO said on Friday.

** U.S. conglomerate Honeywell secured EU regulatory approval on Friday for its $600 million acquisition of mobile computing device maker Intermec.

** French bank Societe Generale is in talks to buy out rival Credit Agricole’s 50-percent stake in their jointly owned brokerage Newedge, several sources familiar with the matter told Reuters.

** Luxury hotel owner Strategic Hotels and Resorts Inc has hired investment bank Eastdil Secured to explore a possible sale of the real estate investment trust, two sources familiar with the matter said this week.

** Proxy advisory firm Institutional Shareholder Services on Thursday urged Clearwire Corp shareholders to vote against majority shareholder Sprint Nextel Corp’s $3.40 per share offer for Clearwire stock it does not already own.

** British financial services firm Resolution Group and private equity firms TPG Capital and J.C. Flowers are bidding for Allstate Corp’s Lincoln Benefit Life subsidiary, according to two people familiar with the situation.

** U.S. investment firm Royalty Pharma said on Friday it expects the majority of takeover target Elan’s shareholders will reject the Irish firm’s own proposed acquisition deals at a shareholder meeting on Monday.

** German publisher Springer Science+Business Media will be listed on the stock exchange after plans to sell the group to private equity firm BC Partners failed, two people familiar with the matter told Reuters on Friday.

** Austrian construction group Strabag SE could use treasury shares to finance a small acquisition as early as this year, outgoing Chief Executive Hans Peter Haselsteiner told shareholders on Friday.

** Finland’s biggest construction group YIT is confident shareholders will approve a plan to spin off its building services business, its incoming chief executive said.

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