March 31, 2009 / 9:18 AM / 10 years ago

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

** Kazakhstan’s No.2 bank Kazkommertsbank KKGB.KZ KKGByq.L will offer new shares worth $471 million as part of the government’s capital injection plan, the bank said. [ID:nLV480854]

** Paramount Energy Trust PMT_u.TO said it offered to buy Profound Energy Inc PFX.TO for about C$112.9 million ($90.10 million) to boost its oil and natural gas assets. [ID:nBNG468728]

** Double Eagle Petroleum Co DBLE.O said it agreed to buy Petrosearch Energy Corp PTSG.OB in a $9.3 million stock deal to boost its oil and gas assets. [ID:nBNG34001]

** Genzyme GENZ.O agreed to buy key rights to the leukaemia drug Campath, also tested as a multiple sclerosis (MS) treatment, from its German development partner Bayer BAYG.DE, the two companies said. [ID:nLV951723]

** Fiat SpA’s FIA.MI CEO was set for talks with Chrysler LLC [CBS.UL] labour unions and creditors in Detroit after U.S. authorities gave the carmakers 30 days to set up a partnership to save the ailing U.S. group. [ID:nLV532538]

** India’s Bharti Group, the minority partner in an asset management JV with France’s Axa (AXAF.PA), said it might dilute or exit its stake as the JV would be seeking a partner in the banking industry to strengthen its mutual fund distribution capabilities. [ID:nLV954193]

** Dutch hotel operator Golden Tulip Hospitality Group said it was going into voluntary receivership and discussing a possible merger with Apollo Hotels & Resorts. [ID:nLV653049]

** The French state has agreed to invest 20 million euros in an equity stake in French metals group Farinia as it seeks to help domestic companies weather the financial crisis. [ID:nLV950698]

** Procter & Gamble Co (PG.N) said that it has sold its Johnson Products Co unit, which specializes hair care products for African-Americans, to RCJP Acquisition Inc. Terms of the deal were not disclosed. [ID:nN31399100]

** The John Hancock Tower, New England’s tallest office building, sold in a foreclosure auction for $660 million, about half what the sellers paid three years ago, underscoring the crumbling state of the U.S. commercial real estate market. [ID:nN31429973] (Compiled by Tina Kwan in Singapore; Richa Dubey and Renju Jose in Bangalore)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below