Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** Twitter Inc said on Tuesday that it bought social data provider Gnip for an undisclosed amount, signaling that it would take on a new role of packaging and selling data, a service in demand by business and government.

** Johnson Controls Inc said on Wednesday that it would acquire Air Distribution Technologies from Canada Pension Plan Investment Board for $1.6 billion, in a move aimed at expanding its offerings in the ventilation products segment.

** The abrupt firing of Symantec Corp Chief Executive Steve Bennett last month is attracting activist investors and private equity firms to the U.S. security software maker, in a development that could potentially lead to its breakup or sale, sources familiar with the situation said.

** The board of Brazilian railway company America Latina Logistica SA approved a proposal on Tuesday to merge with Rumo Logistica SA, a subsidiary of Brazilian sugar and ethanol company Cosan SA Industria e Comercio.

** Consumer goods maker Reckitt Benckiser Group stood by its 2014 financial targets on Wednesday despite unusually weak sales of disinfectants and signaled it was leaning toward spinning off its declining pharmaceuticals business.

** Archer Daniels Midland Co said on Tuesday that it would keep its cocoa presses but still wanted to sell its chocolate business after long-running negotiations to sell the money-losing operations to a buyer collapsed.

** ConMed Corp, a surgical device maker that has been fighting off activist investors, is exploring a sale and has contacted large medical device companies to gauge their buyout interest, people familiar with the matter said on Tuesday.

** German industrial machinery and process engineering group GEA Group has agreed to sell its heat exchangers division, with a value of about 1.3 billion euros ($1.8 billion) including debt, to private equity investor Triton.

** France’s BioAlliance Pharma said it agreed to buy Scandinavian biopharmaceutical company Topotarget to boost its scale and combine their pipelines of new rare cancer treatments.

** Finland’s Metso spurned a merger approach from rival engineering firm Weir on Wednesday, leaving the British company casting around for other ways to boost its mining equipment business.

** New Zealand raised NZ$733 million ($635 million) from the sale of a minority stake in power firm Genesis Energy Ltd – the last of four partial privatizations to bolster state finances although they did not raise as much as first hoped.

** Turkish cement makers are interested in acquisition opportunities that could arise from the merger of Holcim of Switzerland and France’s Lafarge to create the world’s biggest cement maker.

** Israeli energy and insurance conglomerate Delek Group said on Wednesday that it had agreed to sell a controlling 55 percent stake in its U.S. insurance business Republic Group for $121 million to a group of unnamed investors

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** BlackBerry Ltd said on Tuesday it bought a minority stake in privately held healthcare IT firm NantHealth, a move that offers a glimpse into the type of niche markets the smartphone maker is targeting as it attempts to engineer a turnaround.

** Barcode printer maker Zebra Technologies Corp said it would buy Motorola Solutions Inc’s enterprise business, which makes rugged mobile computers, tablets and barcode scanners, for $3.45 billion in cash.

** Spanish telecoms operator Telefonica has offered to lease spectrum and access to its network to rivals in a bid to win European Union approval for its planned purchase of KPN’s E-Plus unit in Germany, three sources said on Tuesday.

** Hedge fund Elliott Management reaffirmed its $3.36 billion offer for network gear maker Riverbed Technology Inc , saying it remained “extremely interested” in acquiring the company.

** Aaron’s Inc, a rent-to-own furniture and electronics retailer, rejected a $2.3 billion takeover offer from a major shareholder and instead acquired a retail credit financing firm for about $700 million.

** Google Inc has acquired solar-powered drone maker Titan Aerospace as the Web search giant ramps up plans to deliver wireless Internet access to remote parts of the world.

** YouTube network Maker Studios said on Monday a majority of shareholders had approved its purchase by Walt Disney Co , making clear it was not for sale to Relativity Media, which made a surprise bid of up to $1.1 billion for the company.

** A consortium that includes Singapore tycoon Ong Beng Seng and Wheelock Properties (Singapore) Ltd offered on Tuesday to buy Hotel Properties Ltd for S$3.50 per share, valuing the company at around S$1.8 billion ($1.4 billion).

** TIAA-CREF, an insurer and asset manager focusing on workers at non-profit organizations, said it would acquire fund manager Nuveen Investments for $6.25 billion, seeking to expand its mutual fund and municipal bond offerings.

** Deutsche Telekom secured European Union antitrust approval on Tuesday for its 546-million-euro ($754 million) acquisition of telecoms provider GTS Central Europe to give it control of a fiber optic network in eastern Europe.

** London-based Diageo Plc on Tuesday relaunched a bid to increase its stake in India’s United Spirits Ltd , making a $1.9 billion bet on rising incomes in a country where consumption of alcohol remains relatively low.

** Kazakh copper miner Kazakhmys said on Tuesday it had agreed to buy the Koksay copper deposit in southeast Kazakhstan from CCC Mining Construction B.V., for $260 million in cash.

** Russia’s No.2 oil producer Lukoil said on Tuesday it had agreed to sell its 50 percent share in an investment vehicle that owns shares in Kazakhstan’s oil and gas projects to China’s Sinopec 0386.HK for around $1.2 billion.

** Barcode printer maker Zebra Technologies has agreed to buy Motorola Solutions Inc’s enterprise business for $3.5 billion in cash, the Financial Times reported, citing people familiar with the discussion.

** An Australian private company has agreed to buy the long-idle Avebury nickel mine in Tasmania from China’s MMG Ltd for A$40 million ($37.65 million), saying operations were again profitable as global nickel prices rise.

** Greece’s bank bailout fund received bids from anchor investors, including Canada’s Fairfax and York Capital, for a big chunk of Eurobank’s 2.86 billion euro share offering, a senior banking source close to the talks said on Tuesday.

** Canadian private equity firm Onex Corp and entertainment company Cineplex Inc have together emerged as the leading contender to buy restaurant and arcade chain Dave & Buster’s Inc, the Wall Street Journal reported, citing people familiar with the matter.

** Generic drugmaker Akorn Enterprises Inc has won U.S. antitrust approval to buy rival Hi-Tech Pharmacal Inc on condition that it sell three generic prescription eye medications and two generic topical anesthetics, the Federal Trade Commission said on Monday.

** A consortium of eight anchor investors have committed to buy 25-30 percent of Euronext ahead of a market listing expected to value the company at 1-1.5 billion euros ($3.5 billion), three sources familiar with the matter said on Tuesday.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** CapitaLand Ltd, Southeast Asia’s biggest property developer, said it has offered S$3.06 billion ($2.45 billion) to buy out minority shareholders in its 65-percent owned CapitaMalls Asia Ltd business.

** Egyptian billionaire Naguib Sawiris wants to invest up to $2 billion in Telecom Italia if its biggest shareholder Telefonica pulls out of the Italian group, a source familiar with the matter said on Monday.

** Glencore Xstrata has sold its interest in the Las Bambas copper mine in Peru to a Chinese consortium in a $6 billion cash deal, making it one of China’s largest mining acquisitions in recent years.

** Mining company Glencore Xstrata said it agreed to buy Chad-focused oil company Caracal Energy for about 800 million pounds ($1.3 billion), in a deal which will involve Caracal abandoning a merger with Canada’s TransGlobe Energy.

** Liquid natural gas supplier Stabilis Energy said on Monday it would buy most of the U.S. assets of Encana Natural Gas Inc, a unit of Canada’s Encana Corp, for an undisclosed price.

** Insurer Endurance Specialty Holdings Ltd said it offered to acquire Aspen Insurance Holdings Ltd for about $3.2 billion in cash and stock.

** Television and film studio Relativity Media has offered $500 million in stock for Maker Studios, whose shareholders are scheduled to vote on Tuesday on a bid by the Walt Disney Co , the Wall Street Journal reported, citing a letter.

** Blackstone and Goldman Sachs’ investment arm are set to buy Ipreo from KKR in a private equity secondary deal that values the data company at $975 million, the Financial Times reported, citing people familiar with the matter.

** Britain’s largest pawnbroker H&T said on Monday it had ended talks with the administrators of its smaller rival Albemarle & Bond about buying some of the chain’s assets.

** London-listed shale gas explorer San Leon Energy dropped plans on Monday to buy a 75 percent stake in Turkish energy company Alpay Enerji, blaming delays in government approval and the strong devaluation of the Turkish lira.

** PZU, eastern Europe’s biggest insurer, is close to acquiring Lithuanian rival Lietuvos draudimas from British group RSA in a deal valued at around 100 million euros ($139 million), sources with knowledge of the matter said on Monday.

** Germany’s Symrise, the world’s fourth-largest scents and flavors company, has agreed to buy French food ingredient maker Diana Group from private equity firm Ardian, a deal that will expand its activities into the pet food market.

** India’s No.2 smartphone maker Micromax Informatics Ltd has expressed interest in buying a stake in South Korean peer Pantech Co Ltd as part of its drive to expand overseas and go upmarket, two sources said on Monday.

** ThyssenKrupp has signed a memorandum of understanding to sell its shipyard business in Sweden to defense firm Saab after the Swedish government made it clear it would not buy new submarines from the German conglomerate.

** China-focused hospital operator Chindex International Inc received a buyout offer of $23 per share, higher than the $19.50 offered by Shanghai Fosun Pharmaceutical Group 600196.SS and private equity firm TPG in February.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** Patent buyer Intellectual Ventures has persuaded Microsoft Corp and Sony Corp to invest in its latest acquisition fund while Apple Inc and Intel Corp , which invested with Intellectual Ventures previously, declined to participate, according to people briefed on the fundraising.

** A buyout offer from India’s billionaire Ruia family for Essar Energy Plc “materially undervalued” the company and its prospects, an independent committee set up to examine the offer said for a third time.

** A small Australian exploration company said it had secured more than $6 billion in equity funding from unnamed investors to build a port and rail network to revive plans for a second iron ore export zone in the country. Padbury Mining said it was obtaining the funds from private Australian equity investors, who required anonymity, with an initial $470 million due in 40-45 days.

** Bank of Queensland Ltd said it would buy the professional finance and leasing arm of South African-owned Investec’s Australian unit for A$440 million ($414 million), aiming to boost credit quality and diversify outside its home state.

** U.S. tax preparer H&R Block Inc said on Thursday it would sell its bank unit to BofI Federal Bank, freeing the company from Federal Reserve oversight.

** Petrolimex Bank, owned by Vietnam’s top oil product importer and distributor Petrolimex, said it had received a takeover offer from VietinBank.

** Britain’s Vodafone said on Friday it had taken full ownership of Vodafone India by buying the 11 percent it did not already own from Piramal Enterprises Ltd.

** Austria’s part-nationalized Volksbanken AG said on Friday that it had sold its Volksbank Malta unit to Mediterranean Bank. Volksbanken did not give financial details.

** The prospect of Etihad Airways buying nearly half of Alitalia has significantly increased after a meeting between Etihad’s boss and Italy’s prime minister, and disagreements over job cuts may be overcome, said a source with knowledge of the talks. ($1 = 1.06 Australian dollars) ($1 = 0.60 British pounds) ($1 = 0.72 euros)

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** EBay Inc and Carl Icahn ended their proxy fight on Thursday as the activist investor dropped his proposal that the e-commerce company split off its PayPal payments unit and withdrew his two nominees for the eBay board.

** Goldcorp Inc , the world’s second-biggest gold miner by market value, raised its offer to buy fellow Canadian miner Osisko Mining Corp to about C$3.6 billion ($3.3 billion), trumping a bid from Yamana Gold Inc .

** Koch Industries and Goldman Sachs’s private equity arm are acquiring European printing-ink maker Flint from buyout group CVC in a deal valuing the company at more than 2.2 billion euros.

** India’s Piramal Enterprises Ltd said on Thursday that it agreed to sell an about 11 percent stake it owns in the Indian unit of Vodafone Group Plc to the British group for 89 billion rupees ($1.48 billion).

** Asahi Group Holdings Ltd said on Thursday that it would buy the Southeast Asian dairy operations of Etika International Holdings Ltd for $329 million.

** Japan’s Toyota Tsusho is acquiring a 39.9 percent stake in loss-making Scholz AG as part of its effort to put the German metals recycling group’s finances back on a solid footing. Toyota Tsusho, part of the Toyota group, declined to specify how much it paid Scholz’s family owners for the stake.

** The Philippines’ International Container Terminal Services Inc said on Thursday that it had agreed to operate, develop and expand Iraq’s largest port facilities and invest $130 million in the first phase of the deal.

** Several large hedge funds doubled down on Puerto Rico in last month’s giant bond sale despite the U.S. territory’s financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspaper. Och-Ziff Capital Management, Paulson & Co, Fir Tree Partners, Perry Capital LLC and Brigade Capital Management each bought more than $100 million of the bonds, according to a list of buyers of the sale, the newspaper said.

** Belgian chemicals group Solvay said on Thursday that it had agreed to sell its European PVC compound business Benvic Europe to U.S. investment firm Open Gate Capital.

** Israeli energy and insurance conglomerate Delek Group said on Thursday that it was in advanced talks to sell its U.S. insurance business Republic Group.

** Swiss cement producer Holcim’s plans to merge with French peer Lafarge and create the world’s biggest cement maker will be subject to an extensive review, the European Union’s antitrust chief said on Thursday.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Wednesday:

** South African retailer Woolworths Holdings Ltd is set to buy struggling Australian department store operater David for $2 billion after trumping an offer from Myer Holdings Ltd.

** Goldman Sachs Group and U.S. private equity firm Warburg Pincus are among the companies that have advanced to the next round of the sale process to buy a stake in China Huarong Asset Management Co Ltd, people familiar with the matter told Reuters.

** Executives from Comcast Corp and Time Warner Cable Inc are expected to defend their plan to merge as they go before the Senate Judiciary Committee on Wednesday, the first hearing since the $45.2-billion deal was announced in February.

** Malaysia’s Petronas Chemicals Group Bhd and BASF Nederland BV have agreed to invest 1.5 billion ringgit ($463 million) in an aroma ingredients complex in the central state of Pahang, according to a filing on Wednesday.

** Swiss chemicals company Clariant and U.S. chemical manufacturer Ashland Inc said they had agreed to sell their joint venture ASK Chemicals to funds affiliated with private equity investment firm Rhone.

** Finnish utility Fortum said on Wednesday it would sell its Norwegian electricity distribution business as well as its share in Fredrikstad Energi and Fredrikstad Energi Nett to Norway’s Hafslund.

** The largest shareholder in Belgian medical supplies company Arseus has sold its entire stake in a private placement, a larger sale than initially planned.

** Oil and gas explorer Tower Resources is raising 19.3 million pounds ($32 million) to expand its African drilling program and help finance the acquisition of Africa-focused Rift Petroleum, the company said on Wednesday.

** Spanish olive oil bottler Deoleo, the target of a takeover battle that has taken on political dimensions, said on Wednesday that British private equity firm CVC Capital Partners had made the best bid for the company.

** Italian real estate company Risanamento is set to sign a deal on Wednesday to sell eight properties in Paris to British fund Chelsfield/The Olayan Group and another Paris property to shareholder Luigi Zunino, a source familiar with the matter said.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** General Motors Co is expected to announce on Tuesday a $450 million investment plan in two of its Michigan plants to bolster its electric car research and production capabilities, the Detroit News reported, citing people familiar with the matter.

** Global miner Rio Tinto said on Monday that it would give away its 19.1 percent stake in Northern Dynasty Minerals Ltd, owner of Alaska’s huge Pebble deposit, after determining that the project did not fit its strategy. Rio is donating its shares to two Alaskan charities, the miner said.

** French insurer Groupama said on Tuesday that it raised about 450.4 million euros ($619 million) from the sale of its entire 1.8 percent stake in Saint-Gobain, Europe’s biggest supplier of construction materials.

** Pattonair, a privately held aircraft replacement parts distributor, is preparing to sell itself in a deal that could fetch more than $500 million, people familiar with the matter said on Monday.

** The two largest shareholders in Israel Discount Bank , the country’s No. 3 bank, agreed to sell a 3.63 percent stake to Citigroup Global Markets for a total of 235.7 million shekels ($67.6 million).

** Spanish bank Santander is not interested in acquiring Austria’s BAWAG PSK, the head of Santander’s operations in Austria said on Tuesday, dismissing media speculation it could be a potential suitor.

** Warburg Pincus has acquired a majority stake in Dubai-based aviation technology company mercator from the Emirates group, the private equity firm’s first direct investment in the region.

** Italian utility Enel signed a pact on Tuesday with China’s top power distribution utility to look at developing smart grid technologies and renewable power sources in the world’s biggest energy market.

** U.S. investment firm Cartica Management LLC has asked Chile’s SVS securities regulator to review a planned merger of Chilean bank CorpBanca SA with Brazil’s Itau Unibanco Holding Financeira SA.

** German private equity firm Aurelius said on Tuesday that it was buying Individual Desktop Solutions GmbH, a specialist for on-site desktop services and solutions, from Deutsche Telekom’s IT unit, T-Systems.

** Swiss energy company Alpiq said on Tuesday that it had acquired British electrical service firm Flexitricity, as it seeks to expand into the electricity demand management market.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** Switzerland’s Holcim unveiled a deal to buy France’s Lafarge on Monday to create the world’s biggest cement maker, with $44 billion of annual sales, and spark a raft of asset sales worldwide to steer it through antitrust rules.

** Specialty pharmaceuticals company Mallinckrodt Plc will buy drugmaker Questcor Pharmaceuticals Inc for about $5.6 billion to gain access to its lucrative drug to treat multiple sclerosis, Acthar Gel.

** India’s Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion, betting it can fix factory quality glitches that plagued the current owner, Japan’s Daiichi Sankyo Co, and got Ranbaxy India-made drugs barred from the United States.

** Swedish engineering group Alfa Laval said on Monday it had agreed to buy Norwegian marine and offshore pumping group Frank Mohn for 13 billion Norwegian crowns ($2.17 billion) in cash to boost its operations in the offshore oil and gas sector.

** Energen Corp said it would sell its natural gas utility Alabama Gas Corp (Alagasco) to Laclede Group Inc for $1.28 billion in cash to focus on oil and gas exploration and production. Laclede will also assume about $320 million of Alagasco’s debt.

** Italy’s Risanamento said on Monday it would accept an offer from former owner Luigi Zunino to buy two French properties out of nine it was planning to sell to Chelsfield/The Olayan Group if the British fund approved the deal.

** Spain’s Santander said on Monday its Brazilian business had agreed to acquire Brazil’s card payment processor GetNet Tecnologia for about 353 million euros ($483.38 million).

** Vocus Inc, a provider of cloud-based marketing and public relations software, said it would be bought by private equity firm GTCR Valor Merger Sub Inc for about $446.5 million.

** India’s Reliance Industries Ltd’s telecommunications unit has agreed to use Reliance Communications Ltd’s intra-city fiber network to roll out 4G services, in what is the third infrastructure-sharing agreement between the two companies.

** Foxconn Technology Group, Apple Inc’s main contract manufacturer, is in talks with Asian private equity firm MBK Partners to buy Taiwanese cable TV company ChinaNetwork Systems, a source with knowledge of the matter told Reuters on Monday.

** Swiss drugmaker Roche has agreed to buy privately-held U.S. diagnostics company IQuum in a deal worth up to $450 million to strengthen its molecular diagnostics business.

** Etihad Airways is still negotiating commercial terms for a potential investment in Alitalia and is close to extending its partnership with Air Berlin, the chief executive of the Abu Dhabi airline said on Monday.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** Sweden’s Meda AB said on Friday it had rejected a takeover approach by U.S. generic drugmaker Mylan Inc , scuppering a potential deal to create a combined company worth around $24 billion.

** Banco Popular said on Friday it was in talks to buy Citigroup’s retail banking and credit card business in Spain, where foreign players have struggled to compete with dominant local banks after a deep financial crisis.

** Private equity investor Lone Star is expected to receive bids from some large European banks for corporate bank IKB, one of Germany’s high-profile victims of the financial crisis, said two people familiar with the transaction.

** France’s Bouygues submitted a new offer for Vivendi’s SFR telecom unit on Friday – of 15 billion euros ($20.6 billion) in cash, plus shares – in an effort to get back into the running hours before a decisive Vivendi board meeting.

** Italian fashion house Versace signed a deal on Thursday to sell a 20 percent stake to U.S. private equity firm Blackstone, spokespeople for the two companies said on Friday.

** China’s Sanpower Group has agreed to buy an 89 percent stake in Britain’s House of Fraser in a deal that values the department store at over 450 million pounds ($746 million), including debt.

** Swedish cash handling firm Loomis said on Friday it was set to buy Swiss VIA MAT, one of the world leaders in international valuables logistics, in a deal worth around 1.45 billion Swedish crowns ($221.80 million).

** Italian broadcaster Mediaset has raised 284 million euros ($390 million) from the sale of a minority stake in its EI Towers unit, in a move that could help it fund the purchase of lucrative soccer rights to boost its core business.

** Germany’s biggest utility, E.ON SE, has hired Citi to advise it on the sale of its assets in Spain, three people familiar with the matter told Reuters, in a bid to pull out of weak energy markets in southern Europe.

** German diversified healthcare group Fresenius and Swiss food giant Nestle are the only bidders left for Danone’s Medical Nutrition unit, two people familiar with the process told Reuters on Friday.

** Shares of Remy Cointreau surged early on Friday, with traders citing speculation that Brown-Forman , the U.S maker of Jack Daniel’s whisky, was mulling a bid for the French luxury cognac company.

** A Bosnian billionaire who made his fortune with automotive patents has offered to take ailing bank Hypo Alpe Adria off Austria’s hands – if the state pays him 3 billion euros.

** Latino-focused channel NuvoTV is nearing a deal to buy Madison Square Garden Co’s Fuse TV and may announce the deal on Friday, Bloomberg reported, citing people with knowledge of the matter.

** Australia’s competition regulator said it would let Transurban Group, the country’s biggest toll road owner, buy Queensland state-owned toll road owner Queensland Motorways Ltd, ruling that a deal would not substantially reduce competition.

** Boeing Inc is considering buying Mercury Systems Inc, a supplier of digital signal and image processing systems to the aerospace and defense industry, according to two people familiar with the matter.

** Contract chipmaker Globalfoundries has emerged as the leading candidate to buy IBM’s semiconductor operations, edging out Intel Corp, the Wall Street Journal cited unidentified sources as saying on Thursday.

 

Deals of the day- Mergers and acquisitions

 

The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Thursday:

** Kingfisher, Europe’s No. 1 home improvement retailer, has launched a 275-million-euro ($378.62 million) takeover bid for France’s Mr Bricolage, moving to strengthen its position in its most profitable market.

** Buyout firm Freeman Spogli & Co and Bahrain-based investment company Investcorp have agreed to acquire Totes Isotoner Corp, the world’s largest marketer of umbrellas, gloves and rainwear, people familiar with the matter said on Wednesday.

** Blackstone Group and Carlyle Group are considering a bid for Singapore’s Goodpack Ltd, people familiar with the matter told Reuters, eyeing the container maker a few weeks after its takeover talks with Australian pallet maker Brambles ended.

** U.S.-based PR software and services firm Meltwater announced an 895 million Swedish crown ($138 million) cash bid for Swedish peer Cision on Thursday, topping an offer by private equity-controlled Blue Canyon Holdings.

** Plug Power Inc said it bought fuel-cell stack maker ReliOn Inc for about $4 million in an all-stock deal, as the company looks to diversify its supplier based

** Jack Ma, the founder of China’s Alibaba Group Holding Ltd (IPO-ALIB.N), the world’s biggest e-commerce firm, will pay 3.3 billion yuan ($531.78 million) to take a controlling share of financial software firm Hundsun Technologies Inc.

** The Indonesian government is prepared to sell Bank Mutiara Tbk for less than the 2008 bailout cost to ensure it meets its year-end deadline, the head of the state deposit agency said on Thursday.

** Investment Corp of Dubai (ICD), the emirate’s sovereign wealth fund, has agreed to buy about 46 percent of hotel management company Kerzner International, sources aware of the deal said.

** Austria plans to sell its 51 percent stake in utility Verbund to the government’s state holding company, a magazine reported, in what could be a first step to privatization.

** Sun Hung Kai & Co Ltd has appointed three banks to underwrite the sale of its consumer finance division, people familiar with the matter told Reuters on Thursday.