November 7, 2014 / 2:33 PM / 3 years ago

Deals of the day- Mergers and acquisitions

8 Min Read

(Adds Valeant Pharma, ArcelorMittal, Athens airport, NIBE, Asia Resource Minerals, Enel Green Power, BC Partners, CAT oil, Survitec, Estee Lauder, Sears Holdings, updates Telecom Italia, One Equity)

Nov 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Japanese regional lenders Kagoshima Bank Ltd and Higo Bank Ltd said on Friday they were in merger talks, marking the second such move within a week in a fragmented industry that has been slow to consolidate. If completed, a merger between the two banks would create a lender with combined assets of 8.4 trillion yen ($72.9 billion).

** Poland's Energa SA is planning to invest 18.2 billion zlotys ($5.34 billion) until 2022, after the country's fourth largest utility posted a third-quarter net profit in line with market expectations, the group said on Friday.

** Songbird Estates, the majority owner of London's Canary Wharf, has rejected a 2.2 billion pound ($3.5 billion) takeover proposal from Qatar Investment Authority and Brookfield Property Partners, saying it "materially undervalued" the group.

** Buyout group One Equity Partners (OEP) has relaunched the sale of Austrian packaging company Constantia Flexibles one year after attempts to list the company on the stock exchange failed, three people familiar with the matter said.

** Belgian pharmaceutical group UCB SA said on Friday that it agreed to sell its specialty generics business Kremers Urban to private equity groups Advent International and Avista Capital Partners for $1.525 billion in cash.

** Greek auditors have unblocked a $1.2 billion sale of a prime seaside property at the abandoned Athens airport of Hellenikon, court officials said on Friday, freeing up Greece's biggest privatization deal since its debt crisis.

** Indonesian businessman Samin Tan is in talks to sell assets including all or part of his stake in Asia Resource Minerals (ARMS) to help repay Standard Chartered and Raiffeisen close to $1 billion.

** Spanish lender Kutxabank is in talks with Goldman Sachs Group Inc and U.S. private equity firm Lone Star about selling its property developer and real estate assets, said two sources with knowledge of the deal. The offer for Kutxabank's property developer, known as Neinor, could be worth about 800 million euros ($992 million), one source said, although the final price has not yet been set.

** Italian utility Enel SpA has agreed to sell stakes in two hydropower assets for 400 million euros ($496 million) as part of a disposal plan aimed at cutting debt.

Also Enel Green Power, Italy's biggest renewable energy company majority owned by state-controlled utility Enel, expects to sell its wind power assets in France by the end of this year and is ready to shed more of its European business as it focuses on emerging markets.

** Bain Capital raised $400 million by selling a nearly 4 percent stake in India's Hero MotoCorp Ltd, or about double its initial target, three sources with direct knowledge of the matter told Reuters.

** Philippine liquor firm Emperador Inc said on Friday it had agreed to sell a 9.64 percent stake to GIC for 17.6 billion pesos ($391 million), in what it described as an initial investment by the Singaporean sovereign wealth fund.

** U.S.-based Principal Financial Group Inc said on Friday it had agreed to buy French insurer AXA SA's Hong Kong retirement savings business for $335 million in what would be the city's first pension M&A deal in more than a decade.

** Johnson & Johnson Inc said it had bought the energy drink brand ORSL from Indian firm Jagdale Industries Ltd for an undisclosed amount, in a bid to expand its consumer healthcare business in the country. The U.S.-based diversified healthcare firm did not disclose the financial terms of the deal, but a source directly involved in the transaction told Reuters that J&J acquired the brand for about 7.5 billion rupees ($121.7 million).

** Sears Holdings Corp said Friday it may sell up to 300 stores to a real estate investment trust in a move that would spin off prized assets to shareholders and could accelerate a breakup of the retailer by billionaire Chief Executive Eddie Lampert.

** Estee Lauder Cos Inc bought French luxury perfume brand Editions de Parfums Frédéric Malle, its third acquisition in less than a month as the company looks to boost its portfolio of high-end luxury perfumes and skin care brands.

** Joma Industrial Source Corp, the British Virgin Islands-based takeover vehicle of oil industry veteran Maurice Dijols, will offer 15.23 euros per share for CAT oil, it said on Friday.

** ArcelorMittal SA remains interested in buying southern Italian steelmaker Ilva, ArcelorMittal's Chief Financial Officer Aditya Mittal said on Friday.

** Valeant Pharmaceuticals International Inc can pay "substantially" more for Allergan Inc and should get a fair shot at buying it, William Ackman, the Botox maker's biggest shareholder, said on Friday.

** Swedish heating technology firm NIBE said it had acquired full ownership of U.S. heat pump firm Enertech Global by buying another 90 percent stake for an undisclosed sum.

** Buyout groups BC Partners, Onex and Partners Group are set to bid for Swiss packaging maker SIG Combibloc in an auction likely to raise less for seller New Zealand's Reynolds than initially seemed likely, sources familiar with the matter said.

** Private equity firms are preparing to submit final bids for Warburg Pincus' potential sale of UK survival equipment company Survitec, banking sources said on Friday.

** The Philippines' two largest property firms said on Friday they had finalized undisclosed terms to buy about half of the Ortigas family business empire's real estate unit, ending legal wrangling with family members over deals first agreed in 2012. Ayala Land Inc and SM Prime Holdings Inc will each acquire about a quarter of the Ortigas business, the unlisted OCLP Holdings Inc, according to a stock exchange filing.

** U.S. hedge fund York Capital Management, which was the biggest single investor in troubled Italian bank Monte dei Paschi di Siena, has sold its stake in the lender, two sources close to the situation said.

** Telecom Italia must explore the possibility of buying or merging with Brazilian telecoms operator Oi, CEO Marco Patuano said on Friday, as the company tries to strengthen the position of its local subsidiary.

** Singapore Airlines Ltd is not currently considering a full takeover of partly-owned low-cost carrier Tiger Airways Holdings Ltd, even though it is raising its stake in the firm, the parent's Chief Executive Goh Choon Phong said on Friday.

** AVG Technologies NV has been approached by potential buyers amid a wave of deals for security-software makers, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

** Potential buyers from at least six leading oil companies have visited Citgo Petroleum Corp's refinery in Illinois and three firms have shown keen interest in its Texas plant, said four sources familiar with efforts to sell the assets.

** Canadian pipeline company Veresen Inc is talking to Japanese buyers for offtake from its Jordan Cove liquefied natural gas facility in Oregon and expects to make a final investment decision for the project by the middle of next year.

** First Solar Inc will not spin off its solar power plants into a separate, publicly traded entity as some of its competitors have done, its chief executive said on Thursday.

$1 = 115.22 Japanese yen $1 = 3.41 Polish zloty $1 = 0.81 euro $1 = 61.63 Indian rupees Compiled by Manya Venkatesh and Ankit Ajmera in Bangalore

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