November 17, 2008 / 10:18 AM / 10 years ago

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

(Adds iPCS; Updates AVI, Bank of America)

Nov 17 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, North American and Asian companies were reported by 2100 GMT on Monday.

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

** Bank of America Corp (BAC.N) said it will boost its stake in China’s third-largest bank, China Construction Bank Corp (0939.HK) (601939.SS), to 19.1 percent from 10.75 percent.

To read more, please double-click on [ID:nN17499130]

** iPCS Inc IPCS.O said it withdrew its request for a temporary injunction against the proposed joint venture of Sprint Nextel Corp (S.N) and Clearwire Corp CLWR.O after an agreement with the companies. [ID:nN17522750]

** Debt-laden Indonesian conglomerate Bakrie & Brothers (BNBR.JK) will change the terms of the sale of its stake in coal miner Bumi Resources (BUMI.JK) to private equity firm Northstar Pacific after Bumi’s share price plunged. [ID:nJAK216797]

** Tiger Brands Ltd (TBSJ.J) said on Monday it may make an 8 billion rand ($786 million) cash-and-shares bid for AVI (AVIJ.J) to create a South African food and consumer goods heavyweight. [ID: nLH481695]

** China Banking Corp (CHIB.PS) said it wants to buy the consumer banking arm of Philippine American Life and General Insurance Co (Philamlife), the local unit of American International Group (AIG.N) and the country’s largest insurer. [ID:nMAN391099]

** Three international insurers and an international bank are interested in acquiring a stake in the takaful unit of MNRB Holdings Bhd (MNRB.KL), the Malaysian Reserve reported. [ID:nKLR372739]

** Indonesian conglomerate Sinar Mas Group will acquire an up to 70 percent stake in PT Bank Century Tbk (BCIC.JK), the bank said. [ID:nJAK377215]

** Kirin Brewery Co (2503.T) has committed to buy A$3.76 billion ($2.4 billion) worth of new shares in Australian brewer Lion Nathan Ltd LNN.AX to help it fund a proposed takeover of Australia’s top soft drinks group Coca-Cola Amatil Ltd (CCL.AX). [ID:nSYD393016]

** Caja Madrid has bought an additional 4.7 percent stake in Spanish IT group Indra (IDR.MC), a source familiar with the operation said on Monday. With the purchase, the Spanish savings bank now holds 19.7 percent of Indra. [ID:nLH141089]

** Eight bids have been received for failed Japanese insurer Yamato Life Insurance Co, Japan’s Nikkei financial daily reported. [ID:nN17516584] (Compiled by Tina Kwan in Singapore, Amiteshwar Singh and Vidya L Nathan in Bangalore)

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