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M&A Navigator: Deal pipeline - 1 June.

MANews-(C)2009-2010

The following is a list a of deals covered in detail by M&A Navigator this week:

- BNP PARIBAS, SOCIETE GENERALE MULL OVER BIDDING FOR MAJORITY IN POLISH BANK ZACHODNI

French banks BNP Paribas (EPA:BNP) and Societe Generale (EPA:GLE) are considering a bid for Allied Irish Banks' (ISE:ALBK) 70% stake in Polish Bank Zachodni WBK (WAR:BZW).

Status: Speculation

- PFIZER TO SELL SWINE VACCINE BIZ IN CHINA TO HARBIN PHARMA

US drugmaker Pfizer (NYSE:PFE) will sell its swine vaccine operations in China to Harbin Pharmaceutical (SHA:600664) for USD50m (EUR40.7m).

Status: Agreed

- SPANISH UNICAJA RAISES SOS INTEREST TO 9.184%

Spanish savings bank Unicaja has increased its stake in home food group SOS Corporacion Alimentaria (MCE:SOS) to 9.184%.

Status: Closed

- AUSTRALIAN HEALTHSCOPE GETS TWO MORE TAKEOVER BIDS

Two more potential buyers joined the battle for Australian Healthscope (ASX:HSP) offering to pay AUD1.84bn (USD1.6bn/EUR1.3bn) for the hospital operator.

Status: Bidding

- RUSSIAN COS TAKE OVER UKRAINIAN ZAPORIZHSTAL FOR USD1.7BN

Russian companies related to state-owned Vnesheconombank have acquired Ukrainian steel producer Zaporizhstal (KSE:ZPST) in a USD1.7bn (EUR1.4bn) deal.

Status: Speculation

- SWISS VALORA SELLS BOOK WHOLESALER

Swiss retail company Valora (SWF:VALN) said it has sold its book wholesale unit Melisa and its three bookshops in the Swiss canton of Ticino to local co-operative La Pergamena.

Status: Closed

- RELIANCE MEDIA, CBS CORP TO CREATE TV JOINT VENTURE

Indian Reliance Media World (BOM:RMEDIA) will establish a 50/50 joint venture with US CBS Corp (NYSE:CBS) to start a network of TV channels in India.

Status: Agreed

- ESSAR STRIKES USD44.5M DEAL TO BUY MAJORITY IN AGC NETWORKS

India-based diversified conglomerate Essar Group announced an agreement to buy a 59.13% stake in local communications solutions firm AGC Networks (BOM:500463) from US network equipment maker Avaya for USD44.5m (EUR36.2m).

Status: Agreed

- IRONBARK SHAREHOLDERS OKAY DEAL WITH BELGIAN NYRSTAR

Belgian zinc refiner Nyrstar (EBR:NYR) said the shareholders of Australian miner Ironbark (ASX:IBG) have approved the proposed increase of Nyrstar's interest in the company to 30.9% from 19.9% for AUD15m (USD12.6m/EUR10.3m).

Status: Agreed

- MEDIQ FINALISES ACQUISITION OF DRUG DISTRIBUTOR ORIOLA

Dutch drug and medical supplies distributor Mediq (AMS:MEDIQ) has completed the acquisition of the healthcare trade business of Finnish sector player Oriola (HEL:OKDBV).

Status: Closed

- UK ALPHAMERIC WRAPS UP DISPOSAL OF SOLUTIONS BUSINESS

UK gaming systems provider Alphameric (LON:ALM) said it had closed the sale of its unit Alphameric Solutions Limited, or ASL, to Orbis Holdings, a fully-owned subsidiary of interactive TV applications provider NDS Group, after its shareholders cleared the deal on 25 May 2010.

Status: Closed

- SWEDISH ELEKTA TAKES OVER CANADIAN RESONANT MEDICAL FOR CAD30M

Swedish medical technology company Elekta (STO:EKTA B) said it was buying Canadian Resonant Medical Inc (RMI), a provider of clinical solutions for radiotherapy cancer care, for CAD30m (USD29m/EUR23.4m) in cash to enlarge its portfolio.

Status: Agreed

- A2A TO SELL STAKE IN SWISS ALPIQ

Italian utility A2A (BIT:A2A) said it has agreed to offload its 5.16% interest in Swiss electricity provider Alpiq (SWF:ALPH) in an effort to raise funds from non-core assets and trim its debt.

Status: Agreed

- DSM WRAPS UP AGRO, MELAMINE DIVESTMENT

Dutch life sciences company Royal DSM (AMS:DSM) said it has closed the divestment of its subsidiaries DSM Agro and DSM Melamine to Egyptian construction and fertiliser company Orascom Construction Industries (CAI:OCIC), or OCI.

Status: Closed

- SIKA BUYS MAJORITY OF JAPANESE DYFLEX

Swiss speciality chemicals group Sika (SWF:SIK) said it has acquired a majority stake in Japanese liquid waterproofing specialist Dyflex HD Co for an undisclosed amount.

Status: Closed

- DSM CLOSES ACQUISITION OF MITSUBISHI CHEMICAL POLYAMIDE BUSINESS

DSM Engineering Plastics, a unit of Dutch life sciences company Royal DSM (AMS:DSM), said it has finalised the acquisition of the Novamid polyamide business of Japan-based Mitsubishi Chemical Corp (MCC) in exchange for its Xantar polycarbonate business.

Status: Closed

- GROUPE IDI COMPLETES AGF PRIVATE EQUITY TAKEOVER

French private equity firm Groupe IDI said it has wrapped up the buyout of AGF Private Equity from Allianz France after getting clearance from the financial markets regulator AMF.

Status: Closed

- POLAND'S JAN KULCZYK MAKES OFFER FOR STATE-OWNED UTILITY ENERGA

Polish businessman Jan Kulczyk placed a preliminary bid for more than 80% of state-controlled utility Energa, together with a partner and global infrastructure funds.

Status: Bidding

- SWEDBANK EXITS BERGSLAGENS SPARBANK

Swedbank (STO:SWED A) has inked a deal to sell its 48% stake in Swedish savings bank Bergslagens Sparbank to the latter's majority shareholder, regional savings bank foundation Sparbanksstiftelsen Bergslagen, for an undisclosed amount.

Status: Agreed

- INVESCO CLOSES ACQUISITION OF M STANLEY'S RETAIL ASSET MANAGEMENT ARM

US investment management company Invesco (NYSE:IVZ) said it has completed the acquisition of the retail asset management business, including Van Kampen Investments, of investment bank Morgan Stanley (NYSE:MS) for USD800m (EUR660m) in cash and 30.9m Invesco shares.

Status: Closed

- ENEL GREEN POWER GETS REGULATORY OKAY TO BUY 51% IN TARANTO SOLAR

The Italian competition regulator gave the go-ahead to Enel Green Power, a unit of power group Enel (BIT:ENEL), to acquire 51% in Taranto Solar, currently controlled by financial holding company Marfin.

Status: Agreed

- AUSTRIAN MAYR-MELNHOF SELLS SWISS UNIT

Austrian cardboard maker Mayr-Melnhof Karton (WBAG:MAYR) said it has sold its already closed Swiss subsidiary Karton Deisswil AG to a Swiss investment group for an undisclosed sum.

Status: Closed

- US RAM POWER AGREES ON TAKEOVER OF SECTOR CO SIERRA GEOTHERMAL

US-based geothermal project developer Ram Power Corp (TSE:RPG) said it has agreed on the takeover of Canadian sector company Sierra Geothermal Power Corp (CVE:SRA) in a share exchange transaction.

Status: Agreed

- CLIFFS NATURAL RESOURCES STARTS BID FOR SPIDER RESOURCES IN CANADA

US mining company Cliffs Natural Resources Inc (NYSE:CLF) said it has launched its takeover offer for Canadian sector player Spider Resources Inc (CVE:SPQ) offering CAD0.13 (USD0.12/EUR0.10) per share in cash.

Status: Bidding

- PRUDENTIAL-AIG DEAL FOR AIA COULD FAIL ON PRICE DISAGREEMENT

UK insurer Prudential (LON:PRU) could give up the takeover of AIG's (NYSE:AIG) Asian subsidiary AIA after it failed to reach an agreement with the US insurance giant over a lower USD30.37bn (EUR24.6bn) price from the original USD35.5bn.

Status: Agreed

- FRENCH EUROTUNNEL BUYS UK RAIL FREIGHT FIRM GBRF

French Groupe Eurotunnel (EPA:GET), operating the Channel Tunnel, said it had bought UK rail freight operator GBRf from passenger transport group FirstGroup (LON:FGP) to grow in the UK and the European rail freight market.

Status: Closed

- AT&T TO SELL DOMESTIC NETWORKING OPS IN JAPAN TO IIJ FOR JPY9.2BN

US-based global telecommunications group AT&T (NYSE:T) said it had agreed to sell its Japan business focused on domestic outsourcing services to Internet Initiative Japan (TYO:3774), or IIJ, for some JPY9.2bn (USD101m/EUR81m).

Status: Agreed

- RUSSIAN MEGAFON MAY REACH DEAL TO BUY SYNTERRA THIS WEEK

Russian mobile operator Megafon may strike a deal to buy telecom group Synterra.

Status: Talks

- BANCA POPOLARE DI MILANO MAY BID FOR STAKE IN BANCA MONTE PARMA

Italian bank Banca Popolare di Milano (BIT:PMI), or BPM, may make an offer for a stake in regional bank Banca Monte Parma.

Status: Speculation; Bidding

- EC SAYS INVESTIGATING UNILEVER-SARA LEE DEAL, TO RULE ON 5 OCT

The European Commission (EC) said it had extended until 5 October the deadline for its ruling on the USD1.3bn (EUR1.06bn) purchase of US Sara Lee's (NYSE:SLE) personal care business by Anglo-Dutch consumer goods group Unilever (AMS:UNA, LON:ULVR), as it launched an in-depth probe into the deal.

Status: Agreed

- GERMAN PNE WIND AGREES ON JV IN BULGARIA

German wind farm developer PNE Wind AG (ETR:PNE3) announced it has agreed to set up a joint venture with Bulgarian wind park Dobrudzha OOD.

Status: Agreed

- COMMERZBANK TO DIVEST FROM SINGAPORE UNIT CITS

German Commerzbank (ETR:CBK) has agreed to offload its subsidiary Commerzbank International Trust Singapore (CITS) to the Trident Trust group for an undisclosed sum.

Status: Agreed

- SCOTTISH AND SOUTHERN ENERGY NOT TO PLACE OWN BID FOR EDF'S UK NETWORKS

UK utility Scottish and Southern Energy (LON:SSE) said it had decided to abandon the plan to bid on its own for the UK distribution networks of French power utility EDF (EPA:EDF), as it would need to increase its capital to finance a deal.

Status: Terminated

- UNI LAND'S SOLAR UNIT ACQUIRES SANTERAMO ENERGIA

Solar Energy SpA, a subsidiary of Italian real estate group Uni Land (BIT:UNL), has bought local Santeramo Energia Srl, a company that holds a licence for the construction of a 1 MW solar plant in Bari, southern Italy.

Status: Closed

- CENTOCOR TAKES OVER UK PULMONARY DISEASES SPECIALIST RESPIVERT

US Centocor Ortho Biotech Inc, part of Johnson & Johnson (NYSE:JNJ), said it has bought London-based RespiVert Ltd, a developer of drugs for the treatment of pulmonary diseases, for an undisclosed sum.

Status: Closed

- ABN AMRO, FORTIS TO COMPLETE LEGAL TIE-UP ON 1 JULY

The legal merger between state-owned ABN Amro and Fortis Nederland is due to be finalised on 1 July, depending on the necessary regulatory approvals.

Status: Agreed

- US ESCO TO ACQUIRE DIVISIONS OF AUSTRALIAN SWIFT GROUP

US engineered metal parts producer Esco Corporation said it has agreed on the takeover of the Service/Engineering and Mining Product divisions of Australian Swift Group for an undisclosed sum.

Status: Agreed

- UK ST IVES TO TAKE OVER DATABASE FIRM OCCAM DM FOR GBP12M

UK web-offset printing company St Ives announced it was buying local database marketing services provider Occam DM Limited for GBP12m (USD17.35m/EUR14.3m), to expand its product range beyond printing.

Status: Agreed

- CATALANA OCCIDENTE GAINS FULL CONTROL OF ATRADIUS

Spanish insurer Catalana Occidente (MCE:GCO) said it has exercised its option to buy up to 100% of Dutch sector player Atradius Credit Insurance.

Status: Closed

- FINNISH SANOMA TO SELL CABLE TV OPERATOR WELHO FOR EUR200M

Finnish media company Sanoma Oyj (HEL:SAA1V) announced an agreement to sell its cable TV operator Welho, part of the group's entertainment division, to local telecom group DNA Ltd for EUR200m (USD242.4m).

Status: Agreed

- SPYKER CARS CLOSED SAAB UK BUY

Dutch sports car maker Spyker Cars (AMS:SPYKR) announced it has finalised the acquisition of the UK distribution unit of Swedish automotive group Saab Automobile for an undisclosed sum.

Status: Closed

- SPAIN'S SAVINGS BANKS BBK, KUTXA TURN DOWN MERGER PROPOSAL FROM CAJA VITAL

Spanish savings banks BBK and Kutxa rejected the merger proposal from home peer Caja Vital.

Status: Terminated

- DUTCH FRUIT CO-OPERATIVES CALL OFF PLANNED MERGER

Dutch co-operative fruit auctioneers ZON in Venlo and Fruitmasters in Geldermalsen announced the termination of their planned merger.

Status: Terminated

- KARDAN ISRAEL TO BUY ADDITIONAL SHARES IN KARDAN HOLDING

Kardan Israel Ltd will buy additional shares in Dutch-Israeli holding firm Kardan NV (AMS:KARD) over a period of 60 days for up to EUR6.3m (USD7.6m).

Status: Agreed
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Publication:M & A Navigator
Date:Jun 1, 2010
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