Deals of the day- Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day- Mergers and acquisitions
Credit: © Reuters.

(Adds Bridgestone, Oi SA, General Atlantic, EQUATE Petrochemical and Ctrip.com; updates Duke Energy , APR Energy, Ashikaga, Caledonia and Starwood Capital)

Oct 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Monday:

** Japanese tire maker Bridgestone Corp 5108.T said it would buy auto parts retailer Pep Boys-Manny, Moe & Jack for $835 million in cash to expand its presence in the United States.

** LetterOne Group, the investment firm controlled by Russian billionaire Mikhail Fridman, could pour up to $4 billion into Oi SA OIBR3.SA , should Brazil's No. 4 wireless carrier combine with rival TIM Participações SA TIMP3.SA .

** U.S. buyout group General Atlantic has agreed to buy a 21.6 percent stake in India's IIFL Wealth Management for 11.2 billion rupees ($173 million), the first private equity investment in the country's fast-growing wealth management business.

** EQUATE Petrochemical Co has chosen banks to arrange a $6 billion loan, about half of which will be used to pay for its acquisition of petrochemical company MEGlobal from Dow Chemical, sources with knowledge of the matter said.

** Chinese online travel company Ctrip.com International Ltd CTRP.O announced a tie-up with rival Qunar Cayman Islands Ltd QUNR.O and its backer Baidu Inc BIDU.O through a share swap.

** Duke Energy Corp (N: DUK ), the largest U.S. power company by generation capacity, said it would buy Piedmont Natural Gas Co for $4.9 billion in cash, helping expand its natural gas distribution business.

** APR Energy Plc APREN.L said it had reached an agreement to be bought by a consortium that includes its largest shareholder, Fairfax Financial Holdings Ltd FFH.TO , in a deal valuing the power plant supplier at about 165 million pounds ($253 million).

** Oil refiner Western Refining Inc WNR.N offered to buy the shares of Northern Tier Energy it did not already own in a deal that values the refiner at about $2.52 billion.

** Kroton Educational SA KROT3.SA has sold distance learning college Uniasselvi to a group of investment firms for 1.105 billion reais ($285 million), underscoring growing demand for higher education centers in Latin America's largest economy.

** Deutsche Boerse DB1Gn.DE could soon agree a cooperation deal with a Chinese financial market operator, a German government official said, ahead of a visit to China by Chancellor Angela Merkel this week.

** Japanese banks Ashikaga Holdings Co Ltd 7167.T and Joyo Bank Ltd 8333.T said they were in merger talks, in a deal that would create the country's third-largest regional lender by assets as the industry faces bleak growth prospects.

** Sweden's Securitas SECUb.ST has agreed to buy the electronic security business of United States-based Diebold as it aims to strengthen its technology offer.

** Investment trust Caledonia Investments Plc CLDN.L said it would buy Gala Bingo Holdings Ltd from Gala Coral, which sealed a merger deal with bookmaker Ladbrokes LAD.L in July.

** South African media firm Naspers NPNJn.J will sell its holdings in two Czech online businesses for $201 million after failing to merge it with a Romanian internet retailer, the company said.

** Philips PHG.AS said the sale of its $3.3-billion Lumileds business to Go Scale Capital was uncertain, due to U.S. government concerns.

** Private investment firm Starwood Capital Group has agreed to buy 72 properties from real estate company Equity Residential (N: EQR ) for about $5.37 billion, the companies said.

** Japan's Suntory Holdings Ltd will need at least three years to bed down its integration with U.S. bourbon maker Beam and in the meantime it will not consider an initial public offering or any large-scale acquisitions, its president said.

** French books and music retailer Fnac FNAC.PA said on Sunday its proposed acquisition of London-listed electrical goods retailer Darty DRTY.L could generate at least 85 million euros ($93.6 million) per year of synergies before tax.

** The board of Orascom Telecom Media and Technology OTMT.CA has approved an offer to acquire, together with investment bank ACT Financial, 100 percent of shares of Beltone Financial BTFH.CA , Orascom Telecom said on Sunday.

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