February 26, 2008 / 10:20 AM / 11 years ago

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

(Recasts; adds CollaGenex)

Feb 26 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2120 GMT on Tuesday. (For Reuters columns on deals, click on [DEALTALK/])

** U.S. private equity firm The Carlyle Group [CYL.UL] is in pole position to buy a majority stake in a venture owned by Japan’s Nippon Sheet Glass (5202.T) and Hoya Corp (7741.T) in a deal worth about 120 billion yen ($1.11 billion) including debt, a source familiar with the situation said.

To read more, please double click on [nT51908]

** Chinese aluminium giant Chinalco, which led a $14 billion stake investment in global miner Rio Tinto (RIO.L), has not increased its Rio holding despite an agreement with its U.S. partner that allows them to buy more, people familiar with the situation said. [nHKG284731]

** Russian energy majors Gazprom (GAZP.MM) and SUEK said they had agreed on the main terms for merging their power and coal assets into a holding company that would eventually sell shares to the public. [nL26497766]

** CollaGenex Pharmaceuticals Inc CGPI.O said it agreed to be bought by an affiliate of Switzerland’s Galderma Pharma SA for about $420 million. [nBNG319761]

** China Metallurgical Corp has agreed to pay $370 million for a yet-to-be-developed iron ore mine in Australia, the latest move by a state-run conglomerate to acquire assets in Australia’s booming resources sector. [nSYD270609]

** Citigroup Inc (C.N), the largest U.S. bank, said its wealth management unit agreed to buy the managed account trading and technology operations of Legg Mason Inc’s (LM.N) private portfolio group. [nWNAS2399]

** Bahraini Islamic investment bank Arcapita said it had completed a deal to buy U.S. storage firm Portable On-Demand Storage (PODS) for $451.4 million. [nL26150493]

** French carmaker Renault (RENA.PA) will sign an agreement to buy 25 percent of Russia’s biggest automaker AvtoVAZ (AVAZ.MM) on Friday in Moscow, a source close to the deal said. [nL26188536]

** British property investment firm Mapeley MAY.L said it had received an indicative takeover proposal, boosting its shares 19 percent. [nWLB7723]

** Superior Energy Services Inc (SPN.N) said it plans to sell 75 percent of its stake in SPN Resources LLC for $165 million in cash. [nWNAS2317]

** British recruiting firm Premier Group said it had made a 45.2 million pound ($88.9 million) bid proposal for its rival Imprint IMP.L, which has been already locked in a takeover battle with other two suitors. [nWLB7713]

** Russian mid-sized oil firm Tatneft TATN3.MM hopes to set up a joint venture with Royal Dutch Shell (RDSa.L) to tap heavy oil deposits in mid 2008, the Russian firm said. [nL26902991]

** Finnish electronics contract manufacturer Elcoteq ELQAV.HE said it had agreed to sell its Russian subsidiary ZAO Elcoteq to Flextronics (FLEX.O) in its efforts to revamp operations and cut costs. [nL26612727]

** Telecom Italia (TLIT.MI) said it had no plans to sell or delist Telecom Italia Media TCM.MI after speculation the media company could be bought pushed its shares so high they were automatically suspended. [nMAT007859] (Compiled by Tina Kwan in Singapore; Ratul Ray Chaudhuri, John Tilak in Bangalore) ((tina.kwan@reuters.com; Reuters Messaging: tina.kwan.reuters.com@reuters.net +65 6870 3924))

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