October 7, 2008 / 9:36 AM / 10 years ago

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

(Adds Volkswagen, Groupe Caisse d’Epargne and others)

Oct 7 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2000 GMT on Tuesday. (For Reuters columns on deals, click on [DEALTALK\] )

** Singapore state investor Temasek Holdings [TEM.UL] kicked off the sale of electricity generator PowerSeraya, in a deal that could fetch around $2.5 billion. To read more, please double click on [ID:nSIN4698]

** Porsche (PSHG_p.DE) bought a small stake in Volkswagen AG (VOWG.DE) in an off-bourse transaction on Tuesday in which it paid far less than peak prices during the session. [ID:nWEB8377]

** British military consumables maker Chemring Group Plc (CHG.L) is buying a U.S. mine-detection systems company for an initial $30 million, to boost its explosive ordnance disposal (EOD) business. [ID:nL7704869]

** Commonwealth Bank of Australia (CBA.AX) (CBA) said it has started exclusive talks with British bank HBOS HBOS.L about a potential takeover of BankWest, HBOS’ Australian operation, estimated to be worth A$2 billion ($1.45 billion). [ID:nSYD33205]

** Italian power grid operator Terna (TRN.MI) is nearing a 1.5 billion euro ($2.04 billion) offer for Enel’s (ENEI.MI) high-voltage network, sources close to the negotiations said. [ID:nRAT004110]

** British insurer Amlin Plc (AML.L) agreed to buy French underwriting agency Anglo French Underwriters SAS (AFU) for an undisclosed cash sum to boost the expansion of its business in Europe. [ID:nBNG252899]

** Fletcher Building Ltd (FBU.NZ), New Zealand’s largest building products and construction company, said it would buy steel products company Fielders Australia Pty Ltd. [IDnWEL75644]

** French mutual banks Groupe Caisse d’Epargne and Banque Populaire are both due to hold respective board meetings on Wednesday to discuss merger plans, two sources close to the matter told Reuters. [ID:nL7241258]

** Royal Caribbean Cruises Ltd (RCL.N) RCL.OL said it has agreed to sell its 50 percent stake in Island Cruises to a unit of British-based tour operator TUI Travel Plc TT.L, which owns the other half. [ID:nL7660834]

** Japanese apparel maker Renown Inc (3606.T) said it may sell British clothier Aquascutum as part of restructuring that could also include it selling its offices and a distribution centre in its home country.

** Shares in Renown fell more than 16 percent after a local newspaper reported that the company would sell 155-year-old British raincoat maker Aquascutum by February. [ID:nT43979]

** Medical devices maker Opto Circuits (India) Ltd (OPTO.BO) said it dropped plans to acquire a company in Europe as it was not economically “justifiable.” [ID:nBMB003272]

** Landry’s Restaurants LNY.N CEO Tilman Fertitta may not be able to find funding to complete his takeover of the company at $21 a share, and is in talks with Jefferies and Co to get financing for a deal at a substantially reduced price. [ID:nBNG151124]

** Africa-focused U.S. private equity firm Emerging Capital Partners has bought a minority stake in Togo-based regional commercial bank Financial BC SA (FBC) for $28 million. [ID:nL7294546 ]

** Wireless technology group Wavecom WAVC.PA branded an unsolicited offer by Gemalto NV GTO.PA as hostile and said it undervalued the company. [ID:nL7675446]

** Icelandic investment firm Exista EXISTA.IC will sell its near 20 percent stake in Finnish insurer Sampo SAMAS.HE to reduce liabilities but will keep its other assets, the group said in a statement. [ID:nL7696096]

** South Korea’s Hanwha Group is considering selling 20 percent of its life insurance unit to fund its possible purchase of Daewoo Shipbuilding & Marine Engineering (042660.KS), a source close to the company said. [ID:nSEO223719]

** Malaysia’s Maybank has been offered another 15 percent stake in Bank Internasional Indonesia (BII) at a discount to its original offer price that will cut the total price by more than 200 million ringgit ($57.39 million). [ID:nKLR209717] (Compiled by Tina Kwan in Singapore, and Mary Meyase and Kuganandhan Paramanandan in Bangalore)

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