Tuesday, September 10, 2013

Reuters: Bankruptcy News: Deals of the day -mergers and acquisitions

Reuters: Bankruptcy News
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Deals of the day -mergers and acquisitions
Sep 10th 2013, 10:08

Sept. 10 | Tue Sep 10, 2013 6:08am EDT

Sept. 10 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Spanish energy company Repsol has consulted Citigroup and Deutsche Bank on the possible sale of its $6 billion stake in utility Gas Natural, the Financial Times reported.

** BlackBerry's biggest shareholder, Fairfax Financial Holdings Ltd has approached several large Canadian investment funds about forging a deal to take the smartphone maker private, but the proposal is still "an airy-fairy, 'what if' kind of thing," according to a source with direct knowledge of the situation.

** Russia's top oil company Rosneft has offered a stake in an East Siberian oil producer to China National Petroleum Corp as a part of their broader cooperation, sources close to the matter said.

** Malaysian oil company Petronas said it is exiting one of the biggest petroleum projects in Venezuela's Orinoco belt, after what sources close to the venture and within the firm said were disagreements with Venezuelan authorities and state-run Petroleos de Venezuela.

** Japanese recruitment giant Recruit Holdings Co is in talks to buy Australian online jobs portal Freelancer.com for $400 million, a source close to the deal said, declining to be identified as the information was confidential.

** Thor Equities LLC, one of New York City's largest landlords, on Monday raised its offer to buy the Empire State Building, hoping to trump a plan to roll the property into a trust, according to sources familiar with the matter.

** U.S. government information technology contractor SAIC Inc said its board approved the spin-off of its services business, as the company looks to aggressively bid for more government contracts.

** Time Inc, the magazine publisher that is preparing to spin out from its parent company Time Warner Inc, is in talks to acquire American Express's titles such as Food & Wine, according to a report in the New York Times.

** Furniture Brands International Inc filed for Chapter 11 bankruptcy protection on Monday and said it plans to sell most of its business, which includes names such as Thomasville, Drexel Heritage and La Barge.

** Malaysian builder IJM Corp Bhd said it is selling a 40 percent stake in Kuantan Port Consortium Sdn Bhd to China's Guangxi Beibu Gulf International Port Group Ltd for 334.4 million ringgit ($101.53 million). ($1 = 3.29 Malaysian ringgit) (Compiled by Maria Ajit Thomas in Bangalore)

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