August 25, 2015 / 10:04 AM / 2 years ago

Deals of the day- Mergers and acquisitions

Aug 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1335 GMT on Tuesday:

** Canadian oil and gas producer Encana Corp said it would sell its Haynesville natural gas assets in northern Louisiana for $850 million to GEP Haynesville LLC, a joint venture between GeoSouthern Haynesville and funds managed by GSO Capital Partners LP.

** Brazil’s Triunfo Participacoes e Investimentos SA announced on Tuesday it was selling controlling stakes in three different energy businesses to the local subsidiary of China Three Gorges Corp for up to 1.9 billion reais ($538 million).

** British retailer Tesco has received three separate binding bids for its South Korean unit from a consortium of Affinity Equity Partners and KKR & Co, Carlyle Group LP, and MBK Partners, people familiar with the matter said.

** Canadian insurer Sun Life Financial Inc is in talks to buy New York-based insurer Assurant Inc’s employee-benefits unit for about $900 million, Bloomberg reported, citing people familiar with the matter.

** Oil Search Ltd said it is looking for acquisitions in Papua New Guinea, where it holds the bulk of its assets, but Managing Director Peter Botten said deals may take some time as buyer and seller expectations remain wide apart.

** Hanergy Thin Film Power Group Ltd, which is being probed by Hong Kong regulators after its stock suddenly plunged, will have to convince shareholders about its outlook after it cut ties with its parent, which last year alone bought about two-thirds of its solar panel making equipment.

** British insurer RSA said on Tuesday it had received a revised proposal from rival Zurich Insurance Group for an all-cash offer at 550 pence a share, valuing the company at around 5.5 billion pounds ($8.69 billion).

** Britain’s competition watchdog said it was minded to approve Poundland’s acquisition of rival 99p Stores, after it discounted fears the combined 800-strong group would dominate the value market.

** Mitsubishi Electric has agreed to buy Italian air conditioning company DeLclima for 664 million euros ($768 million) in cash, the latest Asian acquisition in the European country.

** Food retailer ICA Gruppen has made a cash offer for the remaining shares in Hemtex as it sees better opportunities to boost sales and profitability with a wholly owned subsidiary.

** Commercial International Bank (CIB) said it had received central bank approval to buy Citigroup’s retail business in Egypt. ($1 = 0.6327 pounds) (Compiled by Manish Parashar in Bengaluru)

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