Deals of the day -- mergers and acquisitions
Dec 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:
** General Motors Co said it will buy back 200 million of its shares from the U.S. Treasury and the government plans to sell its remaining stake within 15 months, all but assuring a multibillion dollar loss.
Chief Financial Officer Dan Ammann said GM will pay $5.5 billion, or $27.50 a share, for the Treasury stake in a deal expected to close by year end.
** General Electric is set to sign on Thursday a deal to buy Italian aerospace supplier Avio excluding its space division, sources close to the talks said.
"GE is expected to buy the non-space assets," one of the sources said. The deal is expected to be worth around 3 billion euros ($4 billion), sources close to the situation told Reuters this week.
** Australian bank Macquarie has bought a stake in Czech gas grids owned by Germany's No.2 utility RWE, adding to its European infrastructure portfolio as it hunts for stable returns. Continued...