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Buyins and Buyouts

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  • Dec 16- Progressive Corp, a provider of auto insurance products, said it would acquire a controlling stake in property insurer ARX Holding Corp for $875 million in cash. Progressive Corp said it would increase its share in the parent of American Strategic Insurance to 67 percent from 5 percent after it buys shares from non-management shareholders.

  • Dec 5- Private equity firm JH Partners has sold its 40 percent stake in jeweler Alex and Ani, according to people familiar with the matter, who added the charm bracelet maker could be worth as much as $1 billion. San Francisco- based JH Partners, which bought the stake in 2012, sold its holding to British buyout firm Lion Capital LLP, three people confirmed this week.

  • LONDON, Dec 4- European pay-TV group Sky has agreed to sell a controlling stake in Sky Bet to CVC Capital Partners in a deal which values the online betting business at 800 million pounds. Sky said the sale would enable it to focus on the growth areas within its pay-TV business, where it has recently expanded into continental Europe with the purchase of Sky Italia...

  • LONDON, Dec 4- Pay-TV group Sky said on Thursday it had agreed to sell a controlling stake in Sky Bet to CVC Capital Partners in a move which values the online betting business at 800 million pounds. Sky, which operates in Britain, Italy, Germany, Austria and Ireland, said it would receive 600 million pounds in cash at completion and would retain a stake of around 20...

  • Eni asset sales hit trouble due to oil rout Wednesday, 3 Dec 2014 | 12:40 PM ET

    *Oil plunge complicating Mozambique, Saipem stake sales- sources. CEO Claudio Descalzi still needs to raise 6 billion euros under an 11 billion euro program lasting until 2017. The firm has pinned its hopes on selling minority stakes in its Mozambique gas field, and non-core assets such as its 43 percent holding in oil services contractor Saipem.

  • NEW YORK, Dec 2- Brazil's Vale SA said on Thursday it is considering the sale of a minority stake in its base metals unit in an initial public offering, as it looks to raise funds for key projects in the midst of sliding commodity prices. Chief Executive Murilo Ferreira told investors in New York that Vale is considering selling 30 percent to 40 percent of the...

  • NEW YORK, Dec 2- Brazil's Vale SA is considering the sale of a minority stake in its base metals division through an initial public offering as it looks to raise cash for core projects amid lower commodity prices, its CEO said on Tuesday. Vale Chief Executive Murilo Ferreira told investors in New York that the IPO would only take place if market conditions were "...

  • Nov 28- BCE Inc, Canada's largest telecommunications company, said it would buy its mobile products distributor, Glentel Inc, for about C $594 million in cash and stock. Glentel's shareholders will receive C $26.50 per share, which represents a 108 percent premium to its Thursday close on the Toronto Stock Exchange. Including net debt and minority interest of...

  • MADRID/ LONDON, Nov 24- Spain's Telefonica could sell its UK mobile operator O2 to British Telecom in return for a 20 percent stake in BT as part of a "strategic alliance" to strengthen the pair, Spanish website El Confidencial reported on Monday. A deal would bring O2- among Britain's leading mobile operators alongside EE and Vodafone- back into the BT fold, having...

  • Telefonica in talks to sell O2 to BT - report Monday, 24 Nov 2014 | 2:22 AM ET

    MADRID, Nov 24- Spain's Telefonica could sell its UK mobile operator O2 to British Telecom in return for a 20 percent stake in BT as part of a "strategic alliance" to strengthen the pair, Spanish website El Confidencial reported on Monday. "According to various sources, the talks between Telefonica and British Telecom are advanced although no final deal has been...

  • SEOUL, Nov 24- U.S. automotive parts maker Visteon Corp has signed a preliminary deal to sell its controlling stake in South Korea's Halla Visteon Climate Control Corp to a local private equity firm for $3.6 billion, Korean media reports said. The Korea Economic Daily said on Monday Visteon plans to sign a final deal to sell its 69.99 percent stake in Halla Visteon...

  • GrooveBook's promising future   Tuesday, 18 Nov 2014 | 7:46 AM ET
    GrooveBook's promising future

    Brian Whiteman, GrooveBook founder; discusses how he got the idea to start his photobook company. And Jeffrey Housenbold, Shutterfly president & CEO, shares his outlook for GrooveBook.

  • GrooveBook: 'Shark Tank's' first buyout   Tuesday, 18 Nov 2014 | 7:43 AM ET
    GrooveBook: 'Shark Tank's' first buyout

    Discussing Shutterfly's $14.5 million acquisition of "Shark Tank" backed GrooveBook, with Brian Whiteman, GrooveBook founder; Jeffrey Housenbold, Shutterfly president & CEO, and Kevin O'Leary, "Shark Tank" investor.

  • NEW YORK, Nov 14- Billionaire activist investor Carl Icahn increased his stake in e-commerce company eBay Inc. while booking more profits from his stake in Netflix Inc. in the third quarter, a regulatory filing showed on Friday. He cut his stake in Netflix, the streaming video company, by 353,000 shares to 1.4 million shares, a filing with the Securities and...

  • *Telecom Egypt CEO says other options possible. CAIRO, Nov 12- Egypt's fixed-line monopoly Telecom Egypt said on Wednesday it may not sell its 45 percent stake in mobile operator Vodafone Egypt once it receives a licence to offer its own mobile services. The Egyptian government, which owns 80 percent of Telecom Egypt, has said that for competition reasons the...

  • Spain's Telefonica sells 2.5 pct of China Unicom Monday, 10 Nov 2014 | 11:54 AM ET

    MADRID, Nov 10- Spanish telecoms giant Telefonica SA said on Monday it had sold a 2.5 percent stake in China Unicom Ltd in a block trade for about 687 million euros.

  • LIMA, Nov 3- Peru will likely begin selling up to 49 percent of state-run energy company Petroperu on the Lima stock exchange in the second quarter of 2015, Deputy Energy Minister Edwin Quintanilla said in an interview on Monday. Peru passed a law late last year allowing for the privatization of all but a controlling stake in Petroperu in a bid to modernize the 40-...

  • LIMA, Nov 3- Peru will likely begin selling up to 49 percent of state-run energy company Petroperu on the Lima stock exchange in the second quarter of 2015, Deputy Energy Minister Edwin Quintanilla said in an interview on Monday. Peru passed a law late last year allowing for the privatization of all but a controlling stake in Petroperu in a bid to modernize the 40-...

  • MADRID, Oct 30- The Spanish government has decided to postpone its plans to privatise airport operator Aena with a $10 billion public share offer, a source with knowledge of the matter said on Thursday. The sale of a 49 percent stake in the world's biggest airports operator had promised to be the largest initial public offering in Europe this year.

  • Oct 30- General Electric Co is in early stage talks to sell its stakes worth more than $1 billion in its South Korean auto-financing and credit card businesses, the Wall Street Journal reported, citing people familiar with the matter. The sale would unwind a partnership that began 10 years ago between GE and Hyundai Motor Co. GE is in talks with Hyundai, which has a...