Reuters: Private Equity: Deals of the day -- mergers and acquisitions

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Deals of the day -- mergers and acquisitions Mar 21st 2012, 09:39 March 21 | Wed Mar 21, 2012 5:39am EDT March 21 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0930 GMT on Wednesday. ** JPMorgan has agreed to buy a 19.9 percent stake in Chinese trust company Bridge Trust Co, according to media reports. ** India's GVK Power & Infrastructure Ltd is looking to sell down its stakes in the Alpha coal project and related port and rail assets in Australia to help fund the $10 billion cost of the projects, its Australian chief said on Wednesday. ** U.S. staffing provider On Assignment Inc on Tuesday agreed to buy privately held rival Apex Systems Inc for $600 million, including debt. ** AIA Group Ltd said on Wednesday that Japan's Nippon Life Insurance Co had agreed to buy a 1 percent stake in the firm for about $430 million. ** Morgan Stanley's Asia private equity arm has invested $300 million in China's Tianhe Chemicals Group, the two companies said on Wednesday. ** GlaxoSmithKline Plc and Johnson & Johnson are taking a new tack in the hunt for tomorrow's drugs by linking with venture capital firm Index Ventures in an unusual tie-up. The two pharmaceutical manufacturers will together contribute half the funding for a 150 million euros ($199 million) fund being launched by Index to invest in early-stage life sciences projects, primarily in Europe. ** Land Securities Group said it would sell its Liverpool assets to InfraRed Capital Partners for 77 million pounds ($122.08 million). ** Hercules Offshore Inc said on Tuesday it will buy a rig from a unit of Diamond Offshore Drilling Inc for $40 million in cash to execute a three-year drilling contract with world's largest oil producer Saudi Aramco. ** Synergy Health said it would buy Surgical Solutions LLC from Empire Investment Holdings for $6.5 million in cash. ** Intertek Group bought Atlanta-based 4th Strand from its management shareholders for a total consideration of $6.4 million. ** Hewlett Packard Co CEO Meg Whitman plans to combine the computing giant's PC and printing divisions in a major internal overhaul intended to spur combined sales of hardware to customers, two sources familiar with the move told Reuters. ** A former Russian Energy Minister is planning to bid for three refineries owned by bankrupt oil refiner Petroplus, a source close to the matter said. Link this Share this Digg this Email Reprints

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