January 7, 2008 / 10:08 AM / 11 years ago

UPDATE 2-Deals of the day -- mergers and acquisitions

(Adds Cathay Pacific, Accel Frontline and others)

Jan 7 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0925 GMT on Monday.

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

** Oman’s Bank Muscat BMAO.OM and Japan’s Nomura Holdings (8604.T) agreed to take over Pakistan’s Saudi Pak Bank SPCB.KA for $200 million, pushing ahead with the deal despite a political crisis and a slowing economy.

To read more, please double click on [nISL102357]

** Tyler Resources Inc TYS.V, developer of Mexico’s largest untapped copper-zinc deposit, said it had agreed to be acquired by Jinchuan Group Ltd, China’s largest nickel producer, for about C$214 million in cash. [nSHA243265]

** White Mountains Insurance Group Ltd (WTM.N) said its unit bought Helicon Re Holdings Ltd, parent of Helicon Reinsurance Co Ltd, for about $150 million. [nWNAS5724]

** Barcode scanner and smart-card maker Bartronics India Ltd (BARI.BO) is close to making an acquisition in the United States, a top company official said. The deal size is expected to be in the range of $25-30 million, Managing Director and Chief Executive Officer Sudhir Rao told Reuters. [nBMB000310]

** Tredegar Corp (TG.N), a maker of plastic films and aluminum extrusions, said it agreed to sell its aluminum extrusions operations in Canada to WXP Holdings Inc, an affiliate of H.I.G. Capital, for about $25 million. [nBNG26063]

** Shares of China Eastern Airlines (0670.HK) rose 3 percent after Air China’s (0753.HK) parent vowed to pay at least 32 percent more for a coveted slice of the Shanghai-based airline than rival suitor Singapore Airlines (SIAL.SI) had agreed to. [nHKF078813]

** Cathay Pacific (0293.HK) dealt a blow to arch-foe Singapore Airline’s (SIAL.SI) offer for 24 percent of China’s No. 3 airline, revealing it would consider joining partner Air China (0753.HK) in a more expensive rival bid. [nHKG369381]

** Advertising and marketing services company Omnicom Group (OMC.N) said it was taking a significant minority stake in China’s Shunya Communications Group through Omnicom’s BBDO division. [nWEN3254]

** Systemax Inc (SYX.N) said it reached an agreement with CompUSA Inc to buy its brand, trademarks, e-commerce business and as many as 16 retail stores from the gadgets and electronics retailer. [nN06368415]

** GCap Media Plc GCAP.L, Britain’s largest commercial radio company, said it rejected a 313-million-pound bid approach from privately owned Global Radio despite the hefty premium offered by the acquisitive UK group. [nL0717359]

** Tecity Group, a Singapore-based investment firm, said it has offered to buy commodities and property firm Straits Trading Co (STCM.SI) for S$5.70 a share, valuing the firm at S$1.86 billion ($1.3 billion). [nSP25691]

** Private equity firm Apax Partners and Israel’s Mivtach Shamir Holdings (MISH.TA) will take control of Israeli food company Tnuva. [nL06612649]

** Abu Dhabi-based investment house Noor Capital said it was acquiring 29 percent of UK’s Victoria Oil and Gas Plc (VOG.L) along with a consortium of UAE and Gulf investors. [nL05264345]

** Mexico’s Cemex (CX.N) (CMXCPO.MX), the world’s third-largest cement maker, has agreed to expand its joint venture with Ready Mix USA to increase its pre-mix concrete business in the United States, the company said in a filing with the U.S. Securities and Exchange Commission. [nN04172515]

** Contango Oil & Gas Co (MCF.A) said it agreed to sell the remaining eastern core of its Arkansas Fayetteville Shale properties to Contango to XTO Energy Inc XTO.N for about $128 million, as a part of its review of strategic alternatives. [nWNAS5673]

** Scottish & Southern Energy Plc (SSE.L) said it agreed to buy Dublin-based windfarm firm Airtricity Holdings Ltd, the latest expansion of a European electricity company into renewable power. [nL0435595]

** FairPoint Communications Inc FRP.N said Maine regulators approved an amended stipulation that moves FairPoint closer in its proposed acquisition of Verizon’s wireline operations in the state [nWNAS5665]

** French cosmetics group l’Oreal (OREP.PA) announced the acquisition of Columbia Beauty Supply for an undisclosed consideration. [nL07672116]

** Silverline Technologies Ltd (SLVR.BO) said it has bought OMDR Inc, a global provider of customer interaction and management services, headquartered in Canada, for an undisclosed sum [nBMB000341]

** Minal Engineering Ltd MENG.BO said it was taking over U.S.-based jewellery marketing firm Selection Inc. Financial details of the pruchase were not immediately available. [nBMB000342]

** Accel Frontline Ltd ACFL.BO said it has acquired the software business of telecoms software firm Network Programs India Ltd. [nBMB000346]

** Emirates Telecommunications Corp (ETEL.AD), the second-biggest Arab telecom firm by market value, said it had raised its stake in Sudan’s Canar Telecommunications Co Ltd to 82 percent. Etisalat did not say how much it paid for the additional 45 percent in Canar in a statement on the Abu Dhabi bourse Web site. [nL0749206]

** Daimler AG (DAIGn.DE) denied a newspaper report that it will take a 26 percent stake in Indian bus venture partner Sutlej Motors. [nL0753704]

** Jewellery firm Gitanjali Gems Ltd (GTGM.BO) said its unit bought the Nakshatra brand from Diamond Trading Co, the rough diamond distribution arm of De Beers. [nBOM12030]

** Austrian cardboard and packaging maker Mayr-Melnhof Karton (MMKV.VI) said it would sell its majority stakes in recovered paper companies Papyrus Group and Parek Papierverwertungs Gesellschaft. [nL07101742]

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