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

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Deals of the day -- mergers and acquisitions Jul 3rd 2012, 18:00 Tue Jul 3, 2012 2:00pm EDT July 3 (Reuters) - The following bids, mergers, acquisitions and disposals involving European, U.S., Canadian and Asian companies were reported by 1800 GMT on Tuesday: ** U.S. investment manager BlackRock is buying Swiss Re's European private equity arm, marking the second deal for a private equity fund manager in as many days as sellers contend with a new regulatory landscape and tough trading. ** Hellman & Friedman will take a majority stake in energy analysis group Wood Mackenzie in a deal that values the company at 1.1 billion pounds ($1.7 billion) and marks a relatively quick turnaround for seller Charterhouse. ** Italian carmaker Fiat SpA is to exercise an option to buy around 3.3 percent of U.S. peer Chrysler from the VEBA trust fund, boosting its stake to 61.8 percent. An auto analyst, asking not to be named, said a ballpark figure for the price could be 200 million euros ($252 million). ** Technology services firm M*Modal agreed to be acquired in an all-cash deal for about $1.1 billion by One Equity Partners, the private investment arm of JP Morgan Chase & Co. ** British drinks can maker Rexam said on Tuesday it had agreed to sell its underperforming personal care business in two parts for $709 million in cash and return about $580.5 million of the proceeds to investors. ** Private equity fund MBK Partners has walked away from the auction of a majority stake in Hi-mart Co, South Korea's biggest electronics retailer, after it found a worse-than-expected deterioration in the business on entering exclusive talks, a source with knowledge of the matter told Reuters. ** Research and advisory company Corporate Executive Board Co plans to buy UK-based SHL from private equity firm HgCapital Trust Plc for $660 million in its largest acquisition yet to boost its talent management business. ** Russian steel maker Magnitogorsk Iron & Steel Works has dropped its A$554 million ($567 million) bid for Australian iron ore developer Flinders Mines following legal action from a shareholder. ** Credit Suisse has sold a 7 percent stake in fund manager Aberdeen Asset Management, a move which is set to add more than 200 million pounds ($313.8 million) to the Swiss bank's third-quarter earnings and bolster its capital. ** Duke Energy Corp closed its $18 billion acquisition of Progress Energy Inc and said Progress's Chief Executive Bill Johnson has resigned instead of taking the top job at the combined company, as had been previously planned. Duke CEO Jim Rogers will become CEO of the combined company, while remaining chairman, the company said on Tuesday. ** Canadian oil and gas company Peyto Exploration & Development Corp said on Tuesday it will buy Open Range Energy Corp in a deal valued at C$100.2 million ($98.3 million) to boost its presence in the Alberta deep basin area. ** Canada's Winstar Resources Ltd said it is exploring strategic options, including selling itself, four months after the oil and gas company failed to find a partner for its Tunisian assets. Link this Share this Digg this Email Reprints

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