February 20, 2008 / 10:21 AM / 11 years ago

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

(Adds General Electric, Bain Capital and others)

Feb 20 (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/])

** Russian billionaire Alisher Usmanov has made a bid to merge his assets with Norilsk Nickel (GMKN.MM) (NKELyq.L), which could complicate plans by RUSAL to gain control of the huge Russian metals company.

To read more, please double click on [nL19567860]

** A consortium including Deutsche Bank AG (DBKGn.DE) and Australia’s Babcock & Brown is the front-runner to buy UK train operator Angel Trains from Royal Bank of Scotland for more than 3 billion pounds ($5.8 billion), sources with knowledge of the situation said. [nN19604120]

** Australian iron ore prospector Midwest Corp MIS.AX rejected a $1 billion-plus takeover proposal from its major shareholder, the Chinese commodities trader Sinosteel, emboldened by another big hike in iron ore prices this year. [nSYD75144]

** Air China (601111.SS) (0753.HK) is in initial talks to buy all the shares it does not already own in its cargo venture with the parent of Beijing Capital International Airport (0694.HK), an Air China executive said. If the deal goes through, Air China would increase its stake in Air China Cargo to 100 percent from the current 76 percent. [nSHA263007]

** Nam Tai Electronics Inc NTE.N said it is in talks to sell its entire stake in its J.I.C. Technology Co Ltd (0987.HK) affiliate to an unnamed independent third party. Nam Tai, currently holds about 75 percent of the outstanding share capital of J.I.C. [nN20353824]

** Franklin Templeton said it had bought a 49 percent stake in Vietcombank Fund Management, its first joint venture in Vietnam to tap retail demand for mutual funds and stock investments. [nSIN84881]

** India’s Sun Pharmaceutical Industries Ltd (SUN.BO) said it had bought an additional 3.7 million shares, or 9.4 percent, in Israeli generic drug maker Taro Pharmaceutical Industries Ltd TAROF.PK. [nBOM95313]

** TransAlta Corp (TA.TO) has made good on plans to sell its Mexican power plants and will use much of the $303.5 million proceeds to buy back stock, Canada’s biggest publicly traded generator said. [nN20351848]

** Global brewer SABMiller Plc SAB.L said it had decided against a bid for British rival Scottish & Newcastle Plc SCTN.L, whose shares had climbed earlier on Wednesday on market talk of a rival takeover. [nL20116702]

** Dubai-based Zabeel Investments said it bought 50 percent of Las Vegas-based nightclub and restaurant developer Light Group. [nL20699297]

** Bain Capital Partners has withdrawn its application for U.S. security approval of its $2.2 billion purchase of 3Com Corp COMS.O with a Chinese investor — killing the deal in its current form, a source familiar with the situation said. [nN20350465]

** Electronics maker Sanmina-SCI Corp (SANM.O) said it will sell part of its PC business to a unit of Hon Hai Precision Industry (2317.TW), Taiwan’s top electronics maker, in a deal worth up to $90 million. [nTP337822]

** Software firm HCL Technologies Ltd (HCLT.BO) said it has acquired U.S.-based Capital Stream Inc. in an all-cash deal for $40 million. [nBOM248064]

** CMGI Inc CMGI.O said it agreed to acquire Open Channel Solutions Inc, a provider of entitlement and e-business management solutions, in an all cash transaction valued at $24.5 million. [nWNAS1611]

** Turkish fertiliser firm Gubre Fabrikalari (GUBRF.IS) said a consortium it led had made the highest offer of 462.6 million euros ($679 million) for Iran’s Razi Petrochemical, which is being privatised. [nL2056126]

** Shanghai Pudong Development Bank (600000.SS), nearly 4 percent owned by Citigroup Inc (C.N), plans to raise about 40 billion yuan ($5.6 billion) by selling new shares, in a move likely to weigh on China’s sputtering stock market. [nSHA339285]

** Madrid-based start-up airline Gadair European Airlines is preparing a bid for Spain’s second-biggest carrier, Scandinavia’s SAS (SAS.ST) unit Spanair, Spanish newspaper Negocio reported. [nL20483066]

** Singapore-listed Macquarie MEAG Prime REIT (MMP REIT) (MMPR.SI) may merge or sell its assets to another real estate investment trust in a bid to raise the REIT’s value, chief executive Franklin Heng said. [nSIN108737]

** General Electric Co (GE.N) is pursuing a buyer for its Japanese personal lending unit and expects to sell that operation by the end of the third quarter, the conglomerate said. [nN20354083]

** Italian regional utility A2A (A2.MI) will soon present a proposal to take over Delmi, a controlling holding company for power generator Edison EDN.MI, Chairman and Chief Executive Giuliano Zuccoli said. [nL20758135] (Compiled by Tina Kwan in Singapore; Ratul Ray Chaudhuri and Supantha Mukherjee in Bangalore)

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