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Deals of the day- Mergers and acquisitions

Published 30/12/2015, 07:59 am
© Reuters.  Deals of the day- Mergers and acquisitions

(Adds Norilsk Nickel, Orange, and Elektromreza Srbije)

Dec 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Deutsche Bank DBKGn.DE has agreed to sell its entire 20 percent stake in Beijing-based Hua Xia Bank 600015.SS to Chinese insurer PICC Property and Casualty Co 2328.HK , a deal worth up to $4 billion that will help lift its capital ratios. urn:newsml:reuters.com:*:nL8N14H1KI

** Pep Boys-Manny Moe & Jack PBY.N said its board determined activist investor Carl Icahn's latest buyout offer was superior to the deal it accepted from Bridgestone Corp 5108.T , and the U.S. auto parts retailer moved to terminate the Bridgestone agreement. urn:newsml:reuters.com:*:nL3N14H3NJ

** Buwog BWOA.VI expects to talk to the city of Innsbruck next month about a potential sale of 1,300 apartments the western province of Tyrol, but the Austrian property group is in no rush to sell. urn:newsml:reuters.com:*:nL8N14I0YM

** Spanish energy group Acciona ANA.MC has made an offer for Grupo BTG Pactual SA's BPAC3.SA 39 percent stake in a Catalonia-based water company, a source close to the Spanish company said on Tuesday, as the Brazilian investment bank seeks to sell assets. urn:newsml:reuters.com:*:nL8N14I13O

** Tauron TPE.WA , Poland's second-biggest power company, may have to sell assets to cut debt and help it avoid breaching borrowing covenants, Chief Executive Remigiusz Nowakowski said. urn:newsml:reuters.com:*:nL8N14I17I

** China Vanke Co Ltd 2202.HK , the country's largest property developer, said it might issue new shares to acquire a company - a move that could dilute the value of its shares amid tension with its biggest shareholder. urn:newsml:reuters.com:*:nL3N14I2TY

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** The founder of Hanergy Thin Film Power Group Ltd 0566.HK , once China's wealthiest man on paper, plans to sell a 6 percent holding at a fraction of the shares' last traded price in May, valuing the embattled solar technology firm at just $1.2 billion. urn:newsml:reuters.com:*:nL3N14I1A9

** Russia's Norilsk Nickel GMKN.MM , the world's largest nickel and palladium miner and exporter, said on Tuesday it had agreed to sell a 13.3 percent stake in a mining project in eastern Siberia to a consortium of Chinese investors for $100 million. urn:newsml:reuters.com:*:nL8N14I21X

** Adidas ADSGn.DE is not facing pressure from activist shareholders to offload more assets, like fitness brand Reebok, the German sporting goods group's finance chief told the Financial Times. urn:newsml:reuters.com:*:nL8N14I07Z

** U.S. consulting firm Oliver Wyman and French bank Societe Generale SOGN.PA will advise on the sale of four small Italian banks rescued last month, three sources close to the matter said. urn:newsml:reuters.com:*:nL8N14H0RV

** A key Angolan shareholder in Portugal's second-largest listed lender, Banco BPI BBPI.LS , has opposed a plan to spin off its African assets, but BPI said on Monday it would proceed with the plan in the hope of winning over enough shareholder support. urn:newsml:reuters.com:*:nL8N14H1X6

** Former Australian coal baron Nathan Tinkler has surfaced as buyer for one of the first of many businesses Anglo American AAL.L is trying to offload as commodity markets deteriorate. urn:newsml:reuters.com:*:nL3N14I1OT

** French telecoms group Orange ORAN.PA could buy a 10 percent stake in France's largest commercial television channel TF1 TFFP.PA , as part of reported talks between Orange and TF1's owner Bouygues BOUY.PA , Le Canard Enchaine newspaper said. urn:newsml:reuters.com:*:nL8N14I21H

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** China's cabinet approved on Tuesday a deal that fuses two of the country's biggest state-owned transport and logistics firms as Beijing steps up a drive to make sprawling government-controlled firms more efficient as economic growth continues to slow. urn:newsml:reuters.com:*:nL3N14I261

** Brazil's antitrust agency Cade approved a joint venture between Gavilon, the U.S.-based grains trading company owned by Japan's Marubeni Corp 8002.T , and SA Moageira e Agrícola, a Brazilian wheat miller and distributor, the agency said on Monday. urn:newsml:reuters.com:*:nL1N14H0TP

** Serbia's Elektromreza Srbije (EMS) power grid operator bought a 10 percent share in Montenegro's Crnogorski Elektroprenosni Sistem AD PREN.MOT for around 14 million euros ($15.30 million), a source close to the deal told Reuters. urn:newsml:reuters.com:*:nL8N14I1G7

** Shareholders in Brazilian state-controlled power utility Centraios Eletricas Brasileiras SA decided on Monday to proceed with the sale of an electricity distribution company in the state of Goais while delaying the sale of another six distribution companies and plans to inject cash into them. urn:newsml:reuters.com:*:nL1N14H0YT

** China's CITIC CLSA Capital Markets Ltd will participate in the process to buy an indirect stake in Chile-based SQM SQMa.SN , one of the world's top lithium producers, the holding company selling the stake said on Monday. urn:newsml:reuters.com:*:nL1N14H16D

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