February 20, 2009 / 10:28 AM / 10 years ago

UPDATE 3-Deals of the day -- mergers and acquisitions

(Adds Acciona, others)

Feb 20 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Friday.

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

** Spain’s Acciona (ANA.MC) has agreed to sell its 25 percent stake in power utility Endesa (ELE.MC) to Italy’s Enel SpA (ENEI.MI), in a deal worth 11.3 billion euros ($14.2 billion), a source with knowledge of the deal said.

To read more, double-click on [ID:nLK611384]

** Biotechnology company CV Therapeutics Inc CVTX.O rejected a buyout offer from Japan’s Astellas Pharma Inc (4503.T), saying the proposal significantly undervalued the company and its growth potentials. Last month, Astellas publicly offered to acquire the U.S. drugmaker for $16 a share, or about $1 billion. [ID:nBNG435146]

** Danish ingredients group Danisco DCO.CO said it agreed to trim the sale price of its sugar unit to Germany’s Nordzucker to 5.45 billion Danish crowns ($919.8 million) from 5.6 billion crowns. [ID:nLK690425]

** Citigroup (C.N) plans to sell its stake in Brazilian credit card processor Redecard RDCD3.SA, a source with direct knowledge of the plans said, the latest move by the U.S. banking giant to raise cash. [ID:nSPG000200]

** Enel (ENEI.MI) and Acciona (ANA.MC) were close to a deal on Friday that would give the Italian energy firm almost complete control of Spain’s second biggest electricity utility, Endesa (ELE.MC), sources said. [ID:nLK611384]

** Royal Bank of Scotland (RBS.L) has hired Morgan Stanley (MS.N) to explore the sale of its Asian banking units, sources with direct knowledge of the matter told Reuters. [ID:nHKG267810]

Time Warner Inc said it will spin off Time Warner Cable, sketching out more details to a plan unveiled in 2008 to split the company’s media content and distribution businesses. The separation will be completed by the end of the current quarter through a “spin-off distribution,” the companies said. [ID:nN19539255]

** State oil monopoly Petrovietnam is in talks with a number of foreign oil companies including Royal Dutch Shell (RDSa.L), India’s Essar and South Korea’s SK Energy (096770.KS) to upgrade and sell part of the country’s first refinery. [ID:nHAN175840]

** Japan’s No.2 brewer, Kirin Holdings (2503.T), said it will buy up to 49 percent of San Miguel Brewery, the beer making arm of Southeast Asia’s biggest food and drinks firm, for $1.4 billion. [ID:nT11680]

** Spanish IT specialist Indra (IDR.MC) confirmed on Friday it was in talks to buy IT firm Telvent TLVT.O from engineering company Abengoa (ABG.MC). [ID:nMDT006108]

** Taiwan’s China Life (2823.TW) will buy most of Prudential Plc’s (PRU.L) local insurance business, with the UK firm taking around a 10 percent stake in China Life, valued at T$2.18 billion ($64 million), the companies said. [ID:nTP221645]

** Private equity firm CVC Capital Partners has hired UBS to sell the specialist care unit of Australian medical imaging company I-Med, banking sources said, in a deal that could fetch about A$200 million ($128 million). [ID:nHKG221622]

** Philippine investment management firm Q-Tech Alliance will buy Kirin Holdings’ 19.9 percent stake in San Miguel Corp SMCB.PS for 63 pesos ($1.30) per share, or a total of about 39.6 billion pesos, a company director said. [ID:nMNA000139]

** Malaysian water companies operating in the state of Selangor have turned down the local government’s combined $1.56 billion bid to buy out their water assets, saying the offer lacked clarity. [ID:nKLR427743]

** Shire Plc (SHP.L), Britain’s third-biggest drugmaker, is to buy rights to two formulations of Belgian drugmaker UCB’s (UCB.BR) hyperactivity Equasym for 55 million euros ($69 million), the companies said. [ID:nLK196592]

** Nortel Networks Corp NT.TO, the Canadian phone equipment giant that filed for bankruptcy protection last month, said it agreed to sell parts of its application delivery portfolio to Radware Ltd (RDWR.O), pending the results of a court-supervised auction. [ID:nN19474526]

** The German government gave a cool response to U.S. investor JC Flowers’ suggestion that Berlin pay nearly double Hypo Real Estate’s HRXG.DE current share price to buy control of the struggling lender. [ID:nLJ827929] (Compiled by Tina Kwan in Singapore; R. Manikandan and Richa Dubey in Bangalore)

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