M&A Navigator: Deal pipeline – 29 Dec 2009

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

- BANK AUSTRIA OFFLOADS REAL ESTATE FIRM HYPERION

Bank Austria has sold its real estate company Hyperion ImmobilienvermietungsgesmbH to Signa Holding, controlled by Tyrolean real estate investor Rene Benko.

Status: Closed

- CROATIAN VALIDUS UPS VABA BANKA STAKE TO 29.09%

Croatian equity management company Validus (ZSE:VLDS-R-A) has raised its shareholding in local Vaba Banka (ZSE:BPBA-R-A) by 0.57 percentage points to 29.09%, but did not disclose any financial details.

Status: Closed

- CAJA ESPANA MAY CONTINUE MERGER TALKS WITH CAJA DUERO

Spanish savings bank Caja Espana's board of directors said that the bank may resume its merger discussions with sector player Caja Duero but it will consider other options as well.

Status: Terminated

- NORWEGIAN STATOIL UPS INTEREST IN WEST QURNA 2 OILFIELD TO 25%

Norwegian oil major Statoil (OSL:STL) has inked an agreement with Russian sector player Lukoil (LON:LKOH) to increase its interest in the West Qurna 2 oilfield in Iraq to 25% from 15%.

Status: Agreed

- SWISS MIGROS DROPS PLAN TO BUY FRENCH APM

Swiss retail group Migros said that its subsidiary Jowa AG has abandoned its plan to buy a controlling stake in French dough maker Alsacienne de Pates Menageres (APM).

Status: Terminated

- TOWER BANCORP SIGNS USD65M DEAL TO BUY FIRST CHESTER

Tower Bancorp (NASDAQ:TOBC) announced an agreement to buy Pennsylvania-based bank First Chester Bancorp for USD65m (EUR45.2m) in stock.

Status: Agreed

- WASTE MANAGEMENT OF OHIO BUYS METRO WASTE DISPOSAL

Waste Management of Ohio, part of Waste Management (NYSE:WM), said it has bought home waste services company Metro Waste Disposal.

Status: Closed

- US BEL FUSE TO BUY CINCH CONNECTORS

US electronics products manufacturer Bel Fuse (NASDAQ:BELFA) announced an agreement to buy home electrical connectors maker Cinch Connectors from French industrial group Safran (EPA:SAF).

Status: Agreed

- US STERLING NOT TO BUY FIRST BANKS BRANCHES

US financial services company Sterling Bancshares (NASDAQ:SBIB) has withdrawn from the planned purchase of First Banks' deposits and bank branches due to a delaying regulatory action.

Status: Terminated

- CHINESE TIANWEI BUYS 60% IN US HOKU SCIENTIFIC

Chinese solar wafer maker Tianwei New Energy Wafer announced the acquisition of a 60% stake in US clean energy company Hoku Scientific (NASDAQ:HOKU).

Status: Closed

- FRENCH ACCEUIL NEGOCE ACQUIRES MAFART

French professional construction equipment distributor Accueil Negoce has acquired local sector player Mafart for an undisclosed price.

Status: Closed

- SPANISH CINTRA TO SELL 60% OF CINTRA CHILE TO ISA

Spanish toll-road operator Cintra, part of construction and services group Ferrovial (MCE:FER), has agreed to sell its stake of 60% in Chilean unit Cintra Chile to Colombian state-owned power grid operator Interconexion Electrica, or ISA, in order to reduce debt.

Status: Agreed

- SPANISH GIRONA, MANLLEU, SABADELL, TERRASSA TO APPROVE TIE-UP ON 8 FEB '10

The boards of directors of Spanish Caixa Girona , Caixa Sabadell, Caixa Terrassa and Caixa Manlleu are expected to clear the merger of the savings banks at their extraordinary meeting, to be held on 8 February 2010.

Status: Agreed

- DUTCH ING TO SELL STAKE IN CHINESE INSURANCE UNIT

Dutch financial services group ING Groep (AMS:INGA) has agreed to sell its 50% stake in its Chinese insurance unit Pacific Antai Life Insurance Company (PALIC) to China Construction Bank (SHA:601939).

Status: Agreed

- PATRINVEST CUTS STAKE IN BELGIAN AB INBEV

Luxembourg-based investment vehicle Patrinvest has sold 2,827,976 shares in Belgian brewer Anheuser-Busch InBev (EBR:ABI) for EUR101.06m (USD145.4m).

Status: Closed

- SWEDISH SECURITAS TO ACQUIRE 49% IN LHS IN VIETNAM FOR EUR3.4M

Swedish security services group Securitas (STO:SECU B) has inked a deal to acquire a 49% stake in Vietnamese sector player Long Hai Security (LHS) for some SEK35m (USD4.9m/EUR3.4m).

Status: Agreed

- SPANISH ANTEVENIO TO ACQUIRE SHOPALL.ES FOR EUR1.4M

Spanish online advertising company Antevenio (EPA:ALANT) has acquired online shopper Shopall.es for some EUR1.4m (USD2m), in a move to strengthen its positions in the e-commerce advertising market.

Status: Completed

- HOLDING VARNA ACQUIRES 28.9% OF GALATA

Bulgarian holding company Holding Varna (BUL:5V2) has bought a 28.9% stake in real estate firm Galata Investment Company from industrial conglomerate Chimimport (BUL:6C4).

Status: Closed

- GORAN HARSTEDT, TORSTEN JANSSON SET UP INVESTMENT JV

Goran Harstedt, a board member in Swedish retailer New Wave Group AB (STO:NEWA B), has set up a joint venture with Torsten Jansson, CEO and main owner of New Wave Group.

Status: Closed

- DANISH SOLAR TO CLOSE FINNISH SOLAR SUOMI SALE IN JAN '10

Danish electrical products wholesaler Solar (CPH:SOLAR B) said that the divestment of its Finnish subsidiary Solar Suomi is expected to be finalised in January 2010, not in the fourth quarter of 2009, as it previously anticipated.

Status: Talks

- SPANISH SANTANDER CUTS STAKE IN MOROCCAN ATTIJARIWAFA BANK TO 4.55%

Spanish commercial bank Santander (MCE:SAN) has offloaded a stake of 10% in Moroccan banking group Attijariwafa Bank (ATW) for MAD4.149bn (USD527m/EUR366m), thus reducing its shareholding in ATW to 4.55%.

Status: Closed

- FRENCH TELEPERFORMANCE BUYS COLOMBIAN TELEDATOS

French call centre operator Teleperformance (EPA:RCF) has bought Colombian Teledatos, but did not disclose the price of the deal.

Status: Closed

- ITALIAN BIOXELL SELLS TREM-1 ASSETS TO DANISH NOVO NORDISK

Italian biopharmaceutical firm BioXell (SWF:BXLN) has sold all assets of its research project TREM-1 to Danish healthcare company Novo Nordisk (CPH:NOVO B) for EUR1m (USD1.4m) in cash.

Status: Closed

- CAJA DUERO, CAJA ESPANA TERMINATE MERGER NEGOTIATIONS

Spanish savings banks Caja Espana and Caja Duero have terminated their merger negotiations.

Status: Terminated

- SPANISH ALBA UPS STAKE IN ACS

Spanish financial holding company Corporacion Financiera Alba (MCE:ALB) has increased its stake in home construction group ACS (MCE:ACS) by 0.63% to 23.48%, paying some EUR73.47m (USD105.6m).

Status: Closed

- GREEK ANTENNA TO BUY 49% STAKE IN SERBIAN FOX TELEVIZIJA

Greek media group Antenna announced an agreement to buy a 49% stake in private Serbian TV operator Fox Televizija from News Corporation (NASDAQ:NWSA).

Status: Agreed

- FRENCH LOUIS DREYFUS EYES STAKE BUY IN MANGAS GAMING

French international commodity trader Louis Dreyfus Group has plans to buy a stake in online betting and gambling specialist Mangas Gaming.

Status: Speculation

- ITALIAN ACEGAS-APS SIGNS LOI TO MERGE WITH LINEA GROUP

Italian utility Acegas-Aps (BIT:AEG) said it has signed a letter of intent (LOI) with utility Linea Group Holding, regarding a potential merger.

Status: Exclusivity

- RUSSIA FAILS TO SELL 25.5% IN VOLGA-DON SHIPPING CO

The Russian Federal State Property Management Agency said it could not sell a 25.5% stake in Rostov-on-Don-based Volga-Don Shipping Company (Volgo-Donskoye Parokhodstvo) due to lack of bids.

Status: Delayed

- US 3PAR SEEN AS ATTRACTIVE TAKEOVER TARGET

US data storage company 3PAR (NYSE:PAR) is considering itself an attractive takeover target for bigger technology companies.

Status: Speculation

- PANHARD EYEING NEXTER PRIVATISATION

Christian Mons, chief executive of France-based light armoured vehicle maker Panhard, said that the company is interested in buying state-run military vehicles maker Nexter.

Status: Bidding

- SPANISH CAJA DUERO, CAJA ESPANA MAY TERMINATE MERGER DISCUSSIONS

Spanish savings banks Caja Espana and Caja Duero may terminate their merger talks over a dispute on future headquarters.

Status: Talks

- ON SEMICONDUCTOR STARTS TENDER OFFER FOR CALIFORNIA MICRO DEVICES

US semiconductor components maker ON Semiconductor (NASDAQ:ONNN) said it has started a tender offer to acquire sector player California Micro Devices Corporation (NASDAQ:CAMD) for USD4.70 (EUR3.27) per share in cash as initially announced on 14 December.

Status: Bidding

- ENEL HOPES TO SELL SPANISH POWER GRID IN SIX MONTHS

Italian utility Enel (BIT:ENEL) is planning to shed the high-voltage power grid of its Spanish arm Endesa (MCE:ELE) over the next six months.

Status: Delayed

- NOVATEK TO RAISE STAKE IN YAMAL SPG

Leonid Mikhelson, CEO of Russia-based natural gas producer Novatek (RTC:NVTK), said that the company is planning to exercise its option to acquire a 23.9% stake in Yamal SPG, which holds a licence to explore and develop the Yuzhno-Tambeiskoye gas field.

Status: Bidding

- ADVENT KEEN ON BUYING UK XAFINITY

Buyout firm Advent International is willing to buy UK pensions advisor Xafinity and is in exclusive talks on the deal.

Status: Speculation; Exclusivity

- HANSEN TRANSMISSIONS EYEING CHINESE MARKET

Belgian gearbox maker Hansen Transmissions (LON:HSN) is eyeing the Chinese market after India's Suzlon Energy (BOM:532667) divested from part of its majority stake in the company, CEO Ivan Brems said.

Status: Bidding

- RUSSIAN INTERROS MAY ENTER SOCGEN CAPITAL

Russian industrial group Interros is considering entering the capital of French bank Societe Generale (EPA:GLE), Interros CEO Vladimir Potanin said.

Status: Bidding

- ABU DHABI TO LAUNCH JOINT BID FOR EDF'S GRID IN UK

Abu Dhabi's sovereign wealth fund Abu Dhabi Investment Authority has intentions to launch a joint takeover bid with the Canadian Pension Plan for the UK power distribution network of French power utility group Electricite de France SA (EPA:EDF).

Status: Bidding; Speculation

- GERMAN MERCK EYES MAJOR ACQUISITION

German pharmaceutical and chemical group Merck (ETR:MRK) is pursuing a major acquisition in the chemical and pharmaceutical sector.

Status: Bidding

- KBC, UNION BANK OF INDIA TO SET UP ASSET MANAGEMENT JV

Belgian financial services group KBC (EPA:KBC) and Union Bank of India (BOM:532477) will join forces at the beginning of 2010 to create an asset management joint venture in India.

Status: Speculation; Talks

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