Deals of the day- Mergers and acquisitions

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

Aug 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday:

** Indonesia's Asia Pulp & Paper Co (APP) and its parent Sinar Mas Group denied they were planning to buy pulpmaker Eldorado Brasil Celulose SA, which is up for sale after its controlling shareholders got ensnared in Brazil's worst corruption probe. Fusion Telecommunications International Inc FSNN.O will buy the cloud and business services unit of Birch Communications in a deal that creates a combined company worth about $950 million, including debt, according to people familiar with the matter. Creditor banks of Jaiprakash Power Ventures Ltd JAPR.NS are seeking bidders to buy a stake of at least 30 percent in the Indian power producer, the majority of which they jointly own, a banker involved in the sale told Reuters. China's top-five state power producer China Guodian Group Corp CNGUO.UL will merge with coal giant Shenhua Group Corp Ltd SHGRP.UL , the Chinese government said, a deal that will create the world's largest power utility. PICC Group, parent of the China's biggest non-life insurer, is in talks with potential targets in Southeast Asia, with deals likely executed before the end of the year, a top company executive said. Miner Glencore Plc GLEN.L said it has kicked off a bid to sell its Rolleston thermal coal mine in Australia, together with its joint venture partners, Japanese trading houses Itochu Corp 8001.T and Sumitomo Corp 8053.T . KBank KBANK.BK , Thailand's fourth-largest commercial bank, has taken a 9.99 percent stake in Bank Maspion Indonesia BMAS.JK for $20 million to help strengthen its regional presence, the bank said. CBS Corp (NYSE: CBS ) CBS.N , the United States' most-watched television network, said it plans to buy its biggest customer in Australia, Ten Network Holdings Ltd TEN.AX , and launch its streaming service in the country. A consortium led by Western Digital Corp WDC.O is close to an agreement to buy Toshiba Corp's 6502.T $17.4 billion chip business, with the U.S. firm's CEO in Tokyo to finalize the long and contentious talks, a person familiar with the matter said. ExxonMobil XOM.N said it has completed the acquisition of Jurong Aromatics, a refining and petrochemical plant in Singapore, that will meet fast-growing demand in Asia. Brazil's Raízen Combustíveis SA is close to buying parent Royal Dutch Shell (LON: RDSa ) Plc's Argentina gas station network for more than $1 billion, two people familiar with the plan said on Friday.

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