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TMCNet: M&A Navigator: Deal pipeline - 8 Feb 2010

[February 08, 2010]

M&A Navigator: Deal pipeline - 8 Feb 2010

(M&A Navigator Via Acquire Media NewsEdge) The following is a list a of deals covered in detail by M&A Navigator this week: - ISABEL DOS SANTOS CLOSES ZON STAKE BUY Angolan entrepreneur Isabel dos Santos has wrapped up the buy of a 10% stake in Portuguese media firm ZON Multimedia (ELI:ZON).


Status: Closed - GERMAN VOSSLOH WRAPS UP RAIL SERVICES OPS BUY German railway equipment maker Vossloh (ETR:VOS) announced the completion of the takeover of the rail services businesses of Stahlberg Roensch Group, Log Logistikgesellschaft Gleisbau and ISB Instandhaltungssysteme Bahn.

Status: Closed - LLOYDS MOOTS INTEGRATED FINANCE UNIT SALE Lloyds Banking Group (LON:LLOY) is negotiating the sale of a majority stake in its Integrated Finance unit with private- equity firms.

Status: Talks - FRENCH VEOLIA'S CEO SAYS NO PLANS TO MERGE WITH EDF Antoine Frerot, chief executive of French water utility Veolia (EPA:VIE), said that there is no intention to merge the company with power utility EDF (EPA:EDF), French newspaper Le Parisien wrote.

Status: Denied - GDF SUEZ MAY SWEETEN OFFER FOR UK INTL POWER French gas and electricity supplier GDF Suez (EPA:GSZ) is considering an imporved offer for UK utility International Power (LON:IPR).

Status: Bidding - SHAREHOLDERS OKEY AFFILIATED COMPUTER SERVICES TAKEOVER BY XEROX US document equipment maker Xerox Corp (NYSE:XRX) and outsourcing and IT services provider Affiliated Computer Services (NYSE:ACS) obtained shareholder approval of their proposed deal.

Status: Agreed - UK HALFORDS MULLS OVER BID FOR HOBBYCRAFT UK retailer of car parts and accessories Halfords Group (LON:HFD) is looking to make a takeover offer for home arts and crafts retailer Hobbycraft.

Status: Speculation - XEROX WRAPS UP AFFILIATED COMPUTER SERVICES ACQUISITION US printing systems maker Xerox Corp (NYSE:XRX) said it has closed the acquisition of Dallas-based outsourcing and IT service provider Affiliated Computer Services (NYSE:ACS) for USD6.4bn (EUR4.7bn) in cash and stock.

Status: Closed - US WARNER MUSIC EYES UK'S EMI GROUP US music content company Warner Music (NYSE:WMG) is working to re-open merger negotiations with UK record group EMI.

Status: Speculation - US BUNGE WRAPS UP PURCHASE OF BRAZIL'S MOEMA ASSETS US agribusiness company Bunge (NYSE:BG) said it has completed the purchase of stakes held by Brazilian sugarcane company Moema in local sugarcane mills.

Status: Closed - BRITAIN'S BSS TAKES OVER UGS FOR GBP5.1M British specialist trades distributor BSS Group (LON:BTSM) announced the acquisition of UGS Limited from family shareholders for GBP5.1m (USD7.9m/EUR5.8m) including the assumption of debt.

Status: Closed - CARECAPITAL SHEDS SINCLAIR MONTROSE PROPERTIES FOR GBP23.5M UK healthcare real-estate firm CareCapital Group has sold part of its UK property portfolio through the sale of its wholly-owned unit Sinclair Montrose Properties to Primary Health Investment Properties for GBP23.5m (USD36.6m/EUR26.8m) in cash payable on completion.

Status: Agreed - XSTRATA CEO SAYS NOT IN MERGER TALKS WITH GLENCORE Swiss-based miner Xstrata (LON:XTA) is not in talks over a merger with its biggest shareholder, commodities trader Glencore.

Status: Denied - UNILEVER WRAPS UP US CHILLED SIDE-DISH BUSINESS SALE Anglo-Dutch consumer goods group Unilever (AMS:UNA, LON:ULVR) said it has completed the sale of its US Shedd's Country Crock branded chilled side-dish operations to food company Hormel Foods (NYSE:HRL).

Status: Closed - ITALIAN LUXOTTICA CREATES JV WITH FRENCH ESSILOR Italy's luxury eyewear maker Luxottica (BIT:LUX) has established a joint venture with French ophthalmic and optical products maker Essilor (EPA:EF), to serve the Australian and New Zealand markets in the long term.

Status: Closed - SPAIN'S SAVINGS BANK LA CAIXA NOT INTERESTED IN MERGER WITH PEER Spain's largest savings bank, La Caixa in Barcelona, denied plans to merge with Madrid-based Caja Madrid, the country's second largest sector player.

Status: Denied - ITALY'S ENI FORMALLY CANCELS ACQUISITION OF HERITAGE'S UGANDAN ASSETS Italian energy group ENi (BIT:ENI) formally dropped its planned USD1.5bn (EUR1.1bn) acquisition of UK's oil and gas company Heritage Oil's (LON:HOIL) assets in Uganda.

Status: Terminated - HARDINGE GETS UNSOLICITED BID FROM INDUSTRIAS ROMI US machine tools manufacturer and distributor Hardinge (Nasdaq:HDNG) said Brazil-based sector player Industrias Romi (SAO:ROMI3) has made an unsolicited bid to buy the company at a price of USD8 (EUR5.87) per share.

Status: Bidding - PORTUGUESE BANK BES TAKES CONTROL OF UK STOCKBROKER EXECUTION NOBLE Portuguese bank Banco Espirito Santo (ELI:BES) said it had agreed to acquire 50%1 of UK stockbroker Execution Noble for an undisclosed sum.

Status: Agreed - PRESSURE TECHNOLOGIES ACQUIRES AL-MET FOR GBP2.25M British high-pressure gas cylinders maker Pressure Technologies (LON:PRES) said it has acquired precision engineered valve wear parts producer Al-Met Limited for GBP2.25m (USD3.5m/EUR2.6m).

Status: Closed - UK PERMIRA TO RETAIN STAKES IN GERMAN HUGO BOSS, PROSIEBEN UK private equity group Permira will keep its shareholdings in German fashion company Hugo Boss (ETR:BOS3) and TV broadcaster ProSiebenSat.1 Media (ETR:PSM) in the long run.

Status: Denied - GALLEON HOLDINGS TAKES 19% IN US DRAGONFRUIT UK entertainment media company Galleon Holdings (LON:GON) announced it has acquired a 19% interest in its US strategic partner Dragonfruit Studios for USD500,000 (EUR366,700) in cash and USD500,000 in 2,850,318 newly-issued Galleon shares.

Status: Agreed - HERITAGE ISSUES UPDATE ON UGANDA ASSETS SALE Jersey-based Heritage Oil (LON:HOIL) confirmed that Italy's Eni (BIT:ENI) revoked the agreement to buy its stake in Ugandan Blocks 1 and 3A after UK Tullow (LON:TLW) has exercised its right to take it over.

Status: Agreed - SWEDISH MTG TAKES 50% OF RUSSIAN RADUGA TV Swedish media company Modern Times Group (STO:MTG B), or MTG, said it has bought a 50% stake in Russian nationwide direct-to-home (DTH) satellite pay-TV platform Raduga TV.

Status: Closed - SPANISH SANTANDER CONSIDERS SALE OF MINORITY IN UK UNIT Spain's banking group Santander (MCE:SAN) is contemplating a potential sale of a minority interest in its UK fast growing arm.

Status: Speculation - ROBBINS UMEDA STARTS INVESTIGATION OF AIRGAS PURCHASE BY AIR PRODUCTS US law firm Robbins Umeda said it has started an investigation, in connection with the hostile offer of US industrial gas supplier Air Products and Chemicals (NYSE:APD) to buy sector player Airgas (NYSE:ARG) for USD60 (EUR44.01) apiece.

Status: Bidding - POLAND CONFIRMS PLN15.50-17.50 P/S FOR SALE OF ENEA STAKE Polish treasury ministry on Monday confirmed that it had decided on a price range of PLN15.50 (USD5.17/EUR3.78) to PLN17.50 per share for the sale of a 16% stake in power utility Enea (WAR:ENA).

Status: Auction - PORTUGAL TELECOM TO BUY BRAZILIAN GPTI Portugal Telecom (ELI:PTCA) said it has inked a deal to buy Brazilian IT company GPTI, in line with its efforts to strengthen its presence in the country.

Status: Agreed - ABERTIS, CINTRA EYING TURKISH MOTORWAY Spanish highway operator Abertis (MCE:ABE) and local sector player Cintra are keen on buying a motorway in Turkey which will be put up for sale by the government in April.

Status: Speculation - US LIONSGATE PREPARING BID FOR MIRAMAX Lionsgate, a unit of Holywood studio Lions Gate Entertainment (NYSE:LGF), is planning to submit a bid for Miramax, the film division of Walt Disney (NYSE:DIS).

Status: Speculation - DISNEY-LED GROUP SEEKS TO BUY INTO CHINESE DIGITAL MEDIA & AD CO A consortium led by US entertainment giant Walt Disney (NYSE:DIS) and including Internet search engine Google (NASDAQ:GOOG) is negotiating to acquire a stake in Chinese digital media and advertising firm Bus Online.

Status: Speculation; Talks - BAYER PLANS TO EXPAND HEALTHCARE OPS VIA ACQUISITIONS German drugs and chemicals group Bayer (ETR:BAYN) will expand its healthcare operations via acquisitions among other things.

Status: Bidding - MONDADORI TO BUY OUT BOOK PUBLISHER MONDOLIBRI Italian publishing group Mondadori (BIT:MN) said it has inked a preliminary agreement with Societa Holding Industriale di Grafica to buy out the remaining 50% in book publisher Mondolibri for EUR6.75m (USD9.25m).

Status: Agreed - THE UPTURN COMPLETES BUY OF CITYSIDE TICKETS US online real estate matchmaking exchange The Upturn said it has closed the buy of CitySide Tickets (PINK:CIST), which offers online purchase of event tickets.

Status: Closed - EC APPROVES STATE GUARANTEE FOR SAAB/SPYKER DEAL Swedish carmaker Saab received approval by the European Commission (EC) of a state guarantee for a EUR400m (USD548.2m) loan of key importance to its takeover by Dutch sector player Spyker (AMS:SPYKR).

Status: Agreed - GLOBALSTAR SEALS JV DEAL WITH ARION COMMUNICATION US Globalstar (NASDAQ:GSAT), a provider of mobile satellite voice and data services, has inked a joint venture agreement with South Korean sector player Arion Communication Co.

Status: Agreed - EC APPROVES DEXIA'S RESTRUCTURING PLAN The European Commission (EC) approved the restructuring plan of Franco-Belgian Dexia (EBR:DEXB), under which the bank will sell part of its operations.

Status: Auction - FINNISH KONE BUYS ASBA MANTENIMIENTOS IN SPAIN Finnish lifting equipment maker Kone Corporation (HEL:KNEBV) said it has bought Spanish elevator company ASBA Mantenimientos SL for an undisclosed price.

Status: Closed - DEER CONSUMER PRODUCTS BUYS CHINESE KITCHEN GOODS MAKER US-listed household appliances maker Deer Consumer Products (NASDAQ:DEER) said it has agreed to acquire a Chinese kitchen electronics producer without disclosing the company's name or the purchase price.

Status: Agreed - INDIA'S BANK PUNJAB TAKES MAJORITY OF KAZAKH DANABANK India's banking group Punjab National Bank (BOM:532461) said it has purchased a controlling stake in Kazakh lender Danabank (KAS:DNBN) for an undisclosed sum.

Status: Closed - COMPUTERSHARE CLOSES ACQUISITION OF UK HBOS EES FROM LLOYDS Australian Computershare (ASX:CPU) said it had completed the acquisition of HBOS Employee Equity Solutions (EES), UK's largest provider of all-employee, executive and global share plan administration, from Lloyds Banking Group (LON:LLOY).

Status: Closed - SPAIN'S EOLICA NAVARRA SELLS WIND PROJECT IN CHILE TO PHOENIX Spanish renewable energy company Eolica Navarra said it had agreed to sell the 500 MW Talinay wind park project in Chile to local company Empresas Phoenix for an undisclosed sum.

Status: Agreed - SWEDISH CATENA IN TALKS TO OFFLOAD NORWEGIAN PROPERTIES Swedish real estate company Catena (STO:CATE) said it has launched talks with an unnamed Norwegian sector player to sell its four properties in the Oslo region.

Status: Talks - FRANCE TELEVISIONS EXPECTS TO CLOSE SALE OF AD UNIT IN Q2 French state-run TV broadcaster France Televisions expects to complete the sale of its advertising unit France Televisions Publicite (FTP) in the second quarter of 2010.

Status: Exclusivity - BRAZIL'S CHAMPALIMAUD SEEKS BANK LOAN TO BUY 10% OF PORTUGUESE CIMPOR Brazilian businessman Luis Champalimaud is seeking a banking loan to finance the purchase of a 10% stake in Portuguese cement producer Cimpor (ELI:CPR).

Status: Speculation - RUSSIAN RETAILER VIKTORIA MAY SELL STAKE TO INVESTOR Russian top retailer Viktoria is contemplating a plan to raise funds for development through the sale of a stake to a portfolio investor, rather than an initial public offering (IPO).

Status: Auction ((Comments on this story may be sent to tww.feedback@m2.com)) (c) 2010 M2 COMMUNICATIONS

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