Deals of the day -- mergers and acquisitions

Thu Aug 29, 2013 4:05pm EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 8.00 p.m. GMT on Thursday:

** India has selected seven banks to manage the sale of a stake in Coal India, which could raise $1.2 billion, drawing a vow from unions to step up opposition to the disposal. Sources said the government has hired Goldman Sachs, Bank of America Merrill Lynch, Deutsche Bank, Credit Suisse and Indian investment banks SBI Capital, JM Financial and Kotak Mahindra Capital for the sale of a further 5 percent stake in the world's largest coal miner.

** Struggling coal miner Bumi Plc said there was no alternative to a planned split with its founding Bakrie family, urging shareholders to back a deal that will hand another Indonesian investor control of almost half the stock. The firm failed on Thursday to set a date for a long-awaited shareholder vote on the separation, a cornerstone of its restructuring plan.

** Vodafone Group Plc said it was in talks with Verizon Communications Inc to sell its prized stake in Verizon Wireless, the number one U.S. mobile carrier, in what would be the third-biggest deal of all time.