January 2, 2008 / 10:19 AM / 11 years ago

UPDATE 1-Deals of the day -- mergers and acquisitions

(Adds Shanghai Electric, Kone, Avnet and others )

Jan 2 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 1430 GMT on Wednesday.

(For Reuters columns on deals, click on [DEALTALK/])

** Dutch chemical group Akzo Nobel NV (AKZO.AS)AKZOY.O said it had completed the 8 billion pound ($15.9 billion) takeover of Britain’s ICI ICI.L to create the world’s biggest paint maker.

To read more, please double click on [nL02137124]

** Turkish retailer Carrefoursa CARFA.IS said it had signed a 268 million euro ($393 million) deal to sell real estate in Istanbul to Apollo Real Estate. [nIST001470]

** Nokia Siemens Networks [NSN.UL] said it had agreed to buy Britain’s Apertio Ltd for about 140 million euros ($205 million) and expects to close the deal in the first quarter of 2008. [nL02126871]

** Shanghai Electric Group Co Ltd (2727.HK) has agreed to sell its 50.32 percent slice of underperforming Shanghai Diesel (600841.SS) to SAIC Motor (600104.SS) for $127 million, to focus on its core business. [nHKG224068]

** Sensor maker Measurement Specialties Inc MEAS.O said it acquired Switzerland-based Intersema Sensoric for about $39.7 million in cash and notes to expand its sensor portfolio. [nWNAS5451]

** British defence company QinetiQ Group Plc (QQ.L) said it was buying two Australian defence consulting businesses for a total of A$20 million ($17.6 million) to broaden its customer base in a targeted market. [nL02148257]

** Global bank HSBC (HSBA.L) said it had agreed to sell its U.S. tax advisory services business to management.

HSBC said it would receive $5 million in cash and deferred notes with a principal amount totalling $60.85 million. [nWLB5324]

** Ball Corp (BLL.N) said it sold its Ball Solutions Group Pty Ltd, which provides services to Australia’s Department of Defense, to QinetiQ Pty Ltd for $10.5 million. [nWNAS5448]

** Harvest Natural Resources Inc HNR.N said it acquired a 47 percent interest in the 1.35 million acre Budong-Budong Production Sharing Contract (PSC) from Tately Budong-Budong N.V. [nWNAS5430]

** Finnish lift and escalator maker Kone (KNEBV.HE) said it had bought a U.S. firm Florida Coast Elevator Inc in Fort Lauderdale to strengthen its customer base in the Miami area. [nL02102545]

** Philippine power producer First Gen (FGEN.PS) said it had bought out its foreign partner in a joint venture that won an auction for the government’s majority stake in geothermal firm PNOC-Energy Development Corp EDC.PS. [nSP36638]

** Electronics distributor Avnet Inc AVT.N said it bought Yel Electronics Hong Kong Ltd, which distributes interconnect, passive, electromechanical and limited semiconductor components. Financial terms were not disclosed. [nWNAS5439]

** German industrial conglomerate Siemens AG (SIEGn.DE) has agreed to buy U.S. company Morgan Construction, a provider of rolling-mill products used in the metals industry, the two companies said. [nL02204450] (Compiled by Avishek Mishra in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below