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Buyins and Buyouts

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  • LONDON, June 4- Britain will sell its 30 percent stake in postal operator Royal Mail, currently worth about 1.5 billion pounds, as it renews its drive to wipe out the budget deficit, finance minister George Osborne said on Thursday. The sale of the government's remaining stake in Royal Mail will mark the final stage in one of Britain's most high-profile...

  • June 3- Freeport-McMoRan Inc, which is exploring a public offer for a stake in its oil and gas business, will likely sell off less than 20 percent of the unit, Freeport Chief Financial Officer Kathleen Quirk said on Wednesday. Freeport said in April it was mulling an initial public offering for a minority stake in the unit to raise funds for project development, but...

  • SEOUL, June 3- South Korea's SK Innovation Co Ltd has signed a contract to sell its 11.1 percent stake in Peruvian natural gas transporter Transportadora de Gas del Peru for $251 million, the company said in a statement on Wednesday. A 3.94- percent stake is being sold to Spanish utility Enagas, with the remaining 7.25 percent going to Habanera, a Canadian...

  • HELSINKI, June 1- Japan's SoftBank Corp said on Monday it has increased its controlling stake in Supercell, the Finnish mobile games maker best-known for its hit title' Clash of Clans'. Last year, Supercell saw its revenue triple to 1.5 billion euros while profit doubled to 515 million euros, making it the world's top-grossing company in the sector.

  • *IAG presents formal bid for Aer Lingus. DUBLIN, May 26- The Irish government agreed on Tuesday to sell its 25 percent stake in Aer Lingus to IAG, paving the way for the owner of British Airways and Iberia to make a formal bid to buy the Irish carrier. International Consolidated Airlines Group's proposed 1.36 billion euro offer for Aer Lingus was recommended by the...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The deal, a part of Barrick's plan to reduce net debt by at least $3 billion by the end of the year, comes a day after the world's largest bullion producer sold its...

  • May 26- Canadian miner Barrick Gold Corp said it would sell 50 percent stake in its unit that manages the Porgera gold mine in Papua New Guinea to China's Zijin Mining Group Co Ltd for $298 million in cash. The unit, Barrick Niugini, owns 95 percent in the Porgera mine and the Papua New Guinea owns the rest. After the sale, Zijin and Barrick will jointly control Barrick...

  • May 22- Expedia Inc said it sold its entire stake in online travel company eLong Inc to rival Ctrip.com International Ltd and others for about $671 million, after struggling with mounting losses at the Chinese company. Shares of Expedia and Ctrip touched record highs in early trading on Friday. Ctrip's stock gained 13 percent to $81.20, while Expedia's rose 9...

  • *No discount if oil prices average $60/ bbl in June qtr. NEW DELHI, May 22- India plans to reform rules governing the level of discounts upstream state oil firms including ONGC offer to retailers, a senior finance ministry official said on Friday, a move that could expedite the sale of a stake in the company. Currently ONGC, Oil India and GAIL sell crude and fuels like...

  • May 22- Expedia Inc said it sold its entire stake in Chinese online travel company eLong Inc to rival Ctrip.com International Ltd and others for about $671 million. Expedia had raised its stake in eLong to 62.4 percent in 2011 to expand in the growing Chinese travel market. Expedia's statement did not explain why it was exiting eLong.

  • May 14- Telecommunications tower operator Crown Castle International Corp said it would sell its Australian unit for about A $2 billion in cash to a group of investors led by Macquarie Infrastructure and Real Assets. Crown Castle owns a 77.6 percent stake in the unit- Crown Castle Australia- which claims to be the largest independent tower operator in...

  • May 11- Brazilian telecom group Oi SA is reconsidering the sale of its African assets as relations improve with an estranged partner, Chief Executive Bayard Gontijo said on Monday. "We are changing the center of gravity from Lisbon to Brasilia," Gontijo said, adding that relations with Isabel dos Santos, the daughter of Angolan President Jose Eduardo dos Santos,...

  • *Deal could grow by $500 mln to meet more Telefonica payments. HONG KONG, May 8- Hutchison Whampoa Ltd said it plans to sell a one-third stake in its British mobile phone business for $4.3 billion to five investors- a move that will help the Hong Kong ports-to-telecoms group fund its boldest bet in Europe yet. Hutchison, owned by billionaire Li Ka- shing, agreed in...

  • HONG KONG, May 8- Hutchison Whampoa Ltd has agreed to sell a one-third stake in its British mobile phone business for $4.3 billion to a group of investors including Singaporean and Abu Dhabi sovereign wealth funds. Singapore's GIC Pte, the Abu Dhabi Investment Authority, the Canada Pension Plan Investment Board and Brazilian investment bank Grupo BTG Pactual...

  • *Q1 earnings ex items $0.09/ shr vs est. MONTREAL/ TORONTO, May 7- Bombardier Inc outlined plans on Thursday to list a minority stake in its rail unit as it reported a quarterly profit that topped market expectations but also warned it may cut production of its profitable Global business jets. The company expects to launch an initial public offering of the rail...

  • *Q1 earnings ex items $0.09/ shr vs est. May 7- Bombardier Inc outlined plans to list a minority stake in its rail unit on Thursday as it reported a quarterly profit that topped market expectations, but the company warned it will cut production of its profitable Global business jets. The initial public offering is expected in the fourth quarter and the main listing...

  • May 7- Canada's Bombardier Inc said it was preparing to list a minority stake in its railway unit and reported a quarterly profit that comfortably beat market expectations. The IPO is expected in the fourth quarter and the primary listing is likely to be in Germany, the company said on Thursday. Bombardier had denied that it was looking to sell the unit after...

  • May 7- Canada's Bombardier Inc said it was preparing for an initial public offering of a minority stake in its railway unit, Bombardier Transportation. Reuters had reported in April that China's top trainmakers, CNR Corp Ltd and CSR Corp, were in talks to buy a controlling stake in the unit. The company on Thursday said net income fell to $100 million, or 5 cents per...

  • Berlusconi met Bee for the second time this week but a statement from Fininvest dismissed growing media speculation in recent months that he could sell a majority stake in Milan, one of Italy's most glamorous clubs. Italian media reports said Bee was offering 500 million euros for a 51 percent stake in Milan, aiming to join a series of other foreign tycoons who...

  • China rivals vie for state backing to buy HP unit Wednesday, 29 Apr 2015 | 6:00 PM ET

    BEIJING, April 30- The bidding for a controlling stake in Hewlett-Packard Co's data-networking business in China, worth more than $2 billion, has thrown up a rare tussle between two Chinese state-backed firms who are wrangling over which has Beijing's backing. On Feb. 15, China's National Development and Reform Commission approved Shanghai- based Huaxin to bid...