February 29, 2008 / 10:41 AM / 11 years ago

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

(Adds Kaltech Engineering, Bere Mures, and Assured Guaranty)

Feb 29 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 2100 GMT on Friday. (For Reuters columns on deals, click on [DEALTALK/])

** Fortum FUM1V.HE will pay up to 2.7 billion euros ($4.1 billion) for Russia’s TGK-10 should it gain full ownership of the utility, the Finnish company said.

To read more, please double click on [nL29893130]

** U.S. investment firm Aetos’ 900 billion yen ($8.6 billion) plus bid for Japanese property developer Daito Trust Construction Co (1878.T) is moving forward but struggling to secure enough capital from banks, financial sources familiar with the matter said. [nT110729]

** Banque Populaire said it was in exclusive talks to buy 400 bank branches from HSBC France, mainly in the south of the country, for 2.1 billion euros ($3.17 billion). [nL29739266]

** China Eastern Airlines (600115.SS)(0670.HK) has won regulatory approval to set up an airline with aircraft manufacturer AVIC I, maker of the country’s first domestically developed regional jet. [nPEK111608]

** Take-Two Interactive Software Inc’s (TTWO.O) CEO said that major shareholders support the video game publisher’s decision to reject a $1.9 billion takeover bid by bigger rival Electronic Arts Inc, which they see as “woefully low.” [nN28619635]

** Renault (RENA.PA) agreed to pay up to $1.17 billion for a quarter of Russia’s AvtoVAZ (AVAZ.MM) in a bid to revive the outdated Lada brand and take a chunk of what is set to become Europe’s top car market. [nL29212664]

** Billionaire Wilbur Ross has agreed to invest up to $1 billion in Assured Guaranty Ltd (AGO.N), bypassing big bond insurers like Ambac Financial Group Inc ABK.N in favor of a rival that has largely avoided the credit problems plaguing the industry. [nN29196070]

** Dutch brewer Heineken NV (HEIN.AS) continued its expansion into Eastern and Central Europe with the acquisition of Romanian brewer Bere Mures, a deal that will raise Heineken earnings in 2009. [nL29545731]

** Refex Refrigerants Ltd REFX.BO said it has bought a 51 percent stake in Singapore’s Kaltech Engineering and Refrigeration Pte Ltd for 310 million rupees. [nBOM179861]

** Britain’s Expro International Group EXR.L said it had received a proposal which may lead to an offer, sending shares in the oil and gas field services up over a third to a record high. [nL29763384]

** GCap Media GCAP.L, Britain’s biggest commercial radio group, rejected an improved 333 million pound ($660 million) bid proposal from suitor Global Radio and won the backing of a major shareholder. [nL29595396]

** Slovenia’s leading gasoline retailer Petrol (PETG.LJ) bought 51 percent of Croatian fuel retailer Euro Petrol, the company said. [nL29463004]

** British merchant bank Close Brothers Group Plc (CBRO.L) said that following a number of approaches and discussions with several parties, it was no longer in discussions in relation to an offer for the group or any of its divisions. [nWLB7920]

** Japanese private equity firm Advantage Partners is set to acquire Komeda’s Coffee for about 15 billion yen ($141 million), a source familiar with the deal said. [nT302643]

** British healthcare services firm Nestor Healthcare Group Plc NSR.L said it was still in talks with a number of suitors and may get a takeover offer. [nWLB7968]

** Private equity firm Phoenix Capital said it has been contacted by potential buyers for its stake of roughly 61.5 percent in Japanese audio equipment maker Teac Corp (6803.T), worth about 13.5 billion yen ($129 million). [nT101276]

** Marks and Spencer Plc (M&S) (MKS.L), Britain’s biggest clothing retailer, has bought a 50 percent stake in a franchise operation in eastern Europe as part of its drive to expand abroad. [nL29258542]

** The European Commission will open an in-depth competition investigation of Austrian oil and gas group OMV’s bid to take over Hungarian peer MOL, looking at transmission networks and petrochemicals, a person with knowledge of the matter said. [nL29161637]

** Shareholders in Spanish property company Colonial (COL.MC) and bidder Investment Corporation of Dubai have extended a deadline to agree on a takeover deal to March 3, Colonial said. [nMDT004948]

** French public works and transport concessions group Eiffage (FOUG.PA) said it had rejected proposals made by 33 percent owner Sacyr Vallehermoso SVO.MC during a meeting at the French presidential palace. [nL29875239]

** British online bookstore operator Argentvive Plc ARGV.L said its deputy chairman, Charles Denton, is seeking to buy out the firm and take it private. [nWLB7961]

** Healthcare firm Meldex International MDX.L said it had rejected a buyout offer, as it significantly undervalues the company. [nWLB7972]

** Arrow Electronics Inc (ARW.N), a distributor of electronic parts and computer hardware, said it agreed to buy the components distribution business of Singapore-based Achieva Ltd ACHL.SI to strengthen its position in the Southeast Asian markets. [nBNG139195]

** Goodrich Corp GR.N said it agreed to buy Teac Aerospace Holdings Inc. Terms of the deal were not disclosed. Goodrich said deal will add to earnings in 2009. [nWNAS3123]

** Sumitomo Mitsui Financial Group (8316.T) laid out plans to become Japan’s biggest credit card issuer, saying it would establish a new holding firm for four companies and merge three of them. [nT71814]

** Turkish conglomerate Sabanci Holding (SAHOL.IS) will seek a strategic partner for its textile company Bossa (BOSSA.IS) in 2008 but has no similar plans for other units this year, its chairwoman Guler Sabanci said. [nL29138441]

** Circuit City Stores Inc (CC.N) said it had received two proposals from investor Wattles Capital Management LLC, including one that seeks the replacement of the electronics retailer’s 12-member board with Wattles nominees. [nWNAS3156] (Compiled by Tina Kwan in Singapore, Ratul Ray Chaudhuri and Manish Gupta in Bangalore)

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