Deals of the day -- mergers and acquisitions

Written By Unknown on Selasa, 12 Maret 2013 | 18.12

March 12 | Tue Mar 12, 2013 6:04am EDT

March 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Carlyle Group LP and KKR & Co LP are among the bidders to have made first round offers to buy a minority stake in Thai Life Insurance Co Ltd, in a deal said to be worth about $500 million, according to people close to the auction.

** Yankee Candle Co Inc, the largest scented candle company in the United States, is being prepared for a sale by its private equity owner, three people familiar with the matter said on Monday. The company, acquired by Chicago-based buyout firm Madison Dearborn Partners for $1.6 billion in 2006, is working with Barclays and Bank of America Merrill Lynch on a sale process.

** Germany's second biggest utility RWE AG has hired Goldman Sachs to sell its oil and gas exploration unit DEA, two people familiar with the matter told Reuters.

** South African media and e-commerce firm Naspers Ltd will merge two of its Russian internet sites with rival Avito.ru in a deal worth at least $570 million, the Financial Times reported on Tuesday.

** Belgian bank and insurance group KBC Group SA said on Tuesday it had completed the sale of its 22 percent stake in NLB to the Republic of Slovenia for 2.77 million euros ($3.6 million).

** Swiss private bank EFG International AG is to sell its 20.25 percent stake in EFG Financial Products Holding AG to Raiffeisen's private bank Notenstein for 70.2 million Swiss francs ($73.9 mln), the banks said on Tuesday.

** Nippon Paint Co Ltd said on Tuesday that Singaporean paint maker Wuthelam Holdings has withdrawn its bid to acquire a controlling stake in Japan's No.2 paint supplier.

** Partly private Phuong Tay Bank said it plans to merge into Petrovietnam Finance Joint Stock Co Corp (PVFC) as part of the Vietnamese central bank's scheme to restructure lenders saddled with mountains of bad debt.

** Commerzbank AG, Germany's second-biggest lender, is exploring a sale of the UK property business of its mortgage unit Hypothekenbank Frankfurt International, the Financial Times reported, citing a person familiar with the matter.

** Integrated circuit maker Cadence Design Systems Inc said that it will buy privately held microprocessing company Tensilica for $380 million in an all-cash deal.

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