April 29, 2013 / 1:33 PM / in 5 years

Deals of the day -- mergers and acquisitions

April 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Kinross Gold Corp estimated the cost of a scaled-back expansion of its struggling Tasiast mine in West Africa at $2.7 billion, more than some analysts had expected, sending its shares 3 percent lower.

** Germany’s Bayer AG has agreed to buy U.S. contraceptive devices maker Conceptus for $1.1 billion, aiming to underpin its position as the world’s largest women’s healthcare provider.

** Four groups have submitted non-binding bids to buy 51 percent of Greece’s second-largest water utility as part of the country’s plans to sell off state assets and cut debt, the privatisation agency said on Monday.

** French private equity firm PAI Partners will buy R&R Ice Cream from rival Oaktree Capital in a deal financed by a form of debt popular during the credit boom - but controversial because it is relatively high risk - which is now making a comeback in Europe.

A source with knowledge of the matter said Paris-based PAI will pay about 850 million euros ($1.1 billion) to buy the UK maker of Fab lollies and Skinny Cow ice cream, under an agreement which was announced earlier on Monday.

** Belgium-based insurer Ageas plans to pay out an extraordinary dividend after Royal Park Investments, the bad bank created during the financial crisis, sold off its portfolio and following the sale of a call option. Ageas, which shares ownership of the bad bank with the Belgian state, will receive 1.04 billion euros ($1.35 billion) from the sale, it said in a statement.

** Japan’s Sumitomo Mitsui Banking Corp is in advanced talks to buy a $1.3 billion stake in BTPN, an Indonesian lender backed by TPG Capital, people familiar with the matter told Reuters, lifting BTPN’s shares.

** Chinese e-commerce firm Alibaba Group acquired an 18 percent stake in web portal Sina Corp’s microblogging service Weibo in its first big move into selling advertising on China’s highly competitive social networks.

** State-backed British bank Lloyds is to sell its Spanish retail banking business to Banco Sabadell in exchange for an about 1.8 percent stake in the Spanish lender and will take a 250 million pound loss on the disposal.

Lloyds will receive the stake, worth 84 million euros ($109.43 million), in Spain’s fifth largest bank in exchange for Lloyds’ private and retail banking business in Spain.

** New Zealand’s Telecom Ltd said on Monday it would acquire privately owned local IT infrastructure and data centre company Revera Limited for NZ$96.5 million ($81.8 million).

** Pest control to hygiene group Rentokil Initial said it had sold its loss-making parcels arm City Link to private equity firm Better Capital for one pound ($1.55), exiting a business that has dragged on group performance for years.

** Dubai retail firm Majid Al Futtaim (MAF) is in advanced discussions to buy Egypt’s largest supermarket chain from family-owned Mansour Group, two sources said on Monday.

** A U.S. unit of Mitsubishi UFJ Financial Group Inc is in talks to acquire the rights to sell trust-banking services to Morgan Stanley’s clients, in the bank’s latest bid to expand its business abroad, a source familiar with the matter said on Sunday.

** A proposed merger of Valeant Pharmaceuticals International Inc and Actavis Inc was put on hold after the drugmakers failed to agree on terms of a deal that would have created a healthcare giant with a combined market value of $35 billion, a person familiar with the situation told Reuters on Saturday.

** Shares of Aussino Group Ltd plunged by more than half after the Singapore Exchange rejected its application for a S$70 million ($57 million) reverse takeover deal with a company linked to a Myanmar tycoon who is on the U.S. sanction list.

** Aquila Resources on Monday suffered a set back to its plans to raise capital via asset sales to help fund a A$7.4 billion ($7.6 billion) Australian iron ore project after Sumitomo Corp pulled out of a coal exploration partnership.

** Sprint Nextel Corp on Monday said its merger partner SoftBank Corp has waived some terms of their agreement so that Sprint can seek more information from potential suitor Dish Network Corp.

** HSBC Holdings is selling its half stake in the South Korean insurance firm Hana HSBC Life Insurance Co to its partner in the venture, the 52nd deal it has struck as part of a global retreat from peripheral businesses in the past two years.

** Telefonica Deutschland said it was open to ways it can join up with KPN’s German business in an effort to cut costs and improve pricing power for the two highly indebted telecoms operators.

** Six major Vodafone investors said $100 billion was not enough for the British company’s stake in its U.S. joint venture with Verizon Communications, and urged the latter to come up with an offer of at least $120 billion.

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