Deals of the day-Mergers and acquisitions

Mon Feb 3, 2014 4:02pm EST
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Feb 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Monday:

** Nestle is exploring a possible sale of frozen foods business Davigel for about 300 million euros ($400 million), three sources familiar with the matter told Reuters on Monday, as part of a drive to trim its sprawling portfolio.

** Private equity group 3i is preparing to sell German car parts maker Hilite International in a deal that could be worth more than 400 million euros ($541 million), two people familiar with the transaction said.

** Spain is preparing to start selling down its stake in Bankia SA, the bailed-out lender said on Monday, marking another milestone in the recovery from financial crisis of both the bank and its home country.