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(Adds Fosun, Orix, Toll and Hypo Real Estate; updates Caixabank and Kintetsu)
Feb 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:
** Fairfax Financial Holdings Ltd, the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit Plc for about $1.88 billion to become one of the top five underwriters on the Lloyd's of London market.
** Japanese freight carrier Kintetsu World Express Inc is buying Singapore's APL Logistics for $1.2 billion, paying a higher-than-anticipated price for an overseas deal at a time of slow domestic growth.
** Spain's Caixabank SA bid for full control of Portugal's third-largest lender, Banco BPI SA, and confirmed plans to pursue an acquisition of state-rescued Novo Banco to challenge for market leadership in the country.
Analysts and investors broadly welcomed a move which placed a billion euro ($1.1 billion) valuation on the outstanding 56 percent stake in BPI that Caixabank does not own.
** Phillips 66 Partners LP said it would buy Phillips 66's interests in three pipeline systems for $1.01 billion to expand its operations in Texas.
** China's Anbang Insurance Group is paying $1 billion to buy a controlling stake in South Korea's Tong Yang Life Insurance, extending a global acquisition drive that has already seen it spend $10 billion in under four months.
** South Korea's Lotte Group has submitted the highest offer for South Korea's largest car rental company, KT Rental Corp , in a bid worth about 900 billion won ($818 million), the Korea Economic Daily reported on Tuesday.
** China's Fosun is in talks to buy Israeli medical laser device maker Lumenis for nearly $500 million, financial newspaper Calcalist reported.
** William Demant, the world's second-largest hearing aid maker, has entered into exclusive negotiations to buy 53.9 percent of the share capital in smaller French rival Audika. Based on a price of 17.78 euros per share, the transaction will amount to an equity value of 168 million euros ($190 million), the company said in a statement.
** Spanish privately held industrial group Gestamp has hired Bank of America Merrill Lynch to look into the sale of a big stake in its renewable energy arm or a partial listing of the unit, four sources familiar with the matter said.
** South African technology and outsourcing solutions company EOH Holdings Ltd said on Tuesday it had acquired Construction Computer Software for an undisclosed amount.
** GS Retail Co Ltd is the preferred bidder to buy a controlling stake in South Korea's Parnas Hotel Co Ltd, the hotel operator's parent, GS Engineering & Construction , said on Tuesday.
** Orix Corp is considering offering support for Skymark Airlines Inc, which in late January filed for bankruptcy protection, Kyodo News reported.
** Toll Holdings Ltd, Australia's largest freight and logistics firm, has received a takeover approach from the parent of Japan's post office, the Australian Financial Review reported, citing sources.
** German state-owned bank Hypo Real Estate launched the sale of Deutsche Pfandbriefbank, the mortgage lender it owns, either to investors or through a stock market listing, HRE said. (Compiled by Amrutha Gayathri in Bengaluru)