February 25, 2009 / 10:36 AM / 10 years ago

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

(Adds Agrium Inc and Credit Agricole)

Feb 25 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Wednesday.

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

** Three potential bidders remain interested in the sale of a large stake in American International Group’s (AIG.N) AIA Asian life insurance unit, people close to the matter said, as the auction process heads into its final week.

To read more, please double click on [ID:nHKG67567]

** Deutsche Bank (DBKGn.DE) said it would hold a blocking minority of 25 percent plus one share of Deutsche Postbank DPBGn.DE following a share purchase from Deutsche Post (DPWGn.DE). [ID:nLP62463]

** Spain’s Banco Santander (SAN.MC) has the mandate to sell Union Fenosa’s UNF.MC 5 percent stake in oil company Cepsa CEP.MC at the 30-35 euros per share it is negotiating for its own shares, Fenosa said in a statement. [ID:nMDT006131]

** Czech power group CEZ CEZsp.PR and financial group J&T said on Wednesday they had agreed to buy German miner Mitteldeutsche Braunkohlengesellschaft for 404 million euros. [ID:nLP840084]

** Credit Agricole (CAGR.PA), France’s biggest retail bank, said it was in talks to buy a 35 percent stake in investor services group Caceis from rival bank Natixis (CNAT.PA) for 595 million euros ($758.2 million). [ID:nLP58624]

** Lawson Inc (2651.T), Japan’s second-largest convenience store chain, said on Wednesday it has agreed to acquire smaller rival am/pm Japan Co for $149 million, boosting its presence in Tokyo area. [ID:nT44779]

** A consortium including Monnet Ispat and Energy (MNET.BO), which has made an open offer for Orissa Sponge Iron and Steel (OSSP.BO), has secured majority support to control the target firm, a top official said. [ID:nDEL375390]

** A fund created by French president Nicolas Sarkozy to come to the rescue of companies hit by the credit crisis unveiled its first investment, saying it had bought 2.35 pct of car parts maker Valeo for 19 mln euros. [ID:nLP693700]

** British Airways BAY.L would accept a 55 percent stake in the enlarged company resulting from a planned merger with Spanish carrier Iberia IBLA.MC, the El Economista newspaper reported. [ID: nLP338476]

** Sanofi-Aventis (SASY.PA) finally clinched its $2 billion takeover of Czech drugmaker Zentiva ZNTVsp.PR on Wednesday, boosting its presence in generic medicines and setting the stage for further acquisitions. [ID:nLP378804]

** South Korea’s KT Corp (030200.KS) said it would buy back $330 million worth of shares and pledged hefty shareholder returns to defend its share prices ahead of a planned merger with its mobile unit KTF 032390.KS.[ID:nSEO304982]

** Finnish telecommunications company Elisa ELI1V.HE has agreed to buy hosting company Xenetic from Straumur Investment Bank STRB.IC for 8 million euros ($10.3 million), Straumur said. [ID:nLP720964]

** Canadian fertilizer producer Agrium Inc AGU.TO AGU.N. launched an unsolicited offer to buy U.S. rival CF Industries (CF.N) for $3.6 billion in cash and stock on Wednesday, in a move to expand its presence in the nitrogen and phosphate fertilizer markets. [ID:nN25476074]

** A federal bankruptcy judge approved the sale of luxury retailer Fortunoff Holdings LLC to a group of seven liquidators, setting the stage for it to begin liquidating as early as Wednesday. [ID:nN24438548] (Compiled by Tina Kwan in Singapore; R. Manikandan and Archana Shankar in Bangalore)

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