Reuters: Deals: AOL to sell 800 patents to Microsoft for $1 billion

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AOL to sell 800 patents to Microsoft for $1 billion Apr 9th 2012, 11:20 Mon Apr 9, 2012 7:20am EDT (Reuters) - AOL Inc (AOL.N) said it would sell over 800 of its patents and related applications to Microsoft Corp (MSFT.O), and would grant Microsoft a non-exclusive license to the patents it retains, for slightly over $1 billion in cash. The patent sale includes the sale of an AOL subsidiary on which AOL expects to record a capital loss for tax purposes, AOL said in a statement.

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Reuters: Deals: Fujikura to buy telecom gear firm Nistica

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Fujikura to buy telecom gear firm Nistica Apr 9th 2012, 06:22 TOKYO | Mon Apr 9, 2012 2:22am EDT TOKYO (Reuters) - Japanese electric wire and cable maker Fujikura Ltd (5803.T) said on Monday that it plans to buy U.S. telecom equipment firm Nistica Inc, as it looks to expand in optical equipment for high-speed networks. It did not disclose the deal price or when it is expected to close.

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Reuters: Deals: Qatar builds $2.65-billion Xstrata stake ahead of Glencore deal

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Qatar builds $2.65-billion Xstrata stake ahead of Glencore deal Apr 9th 2012, 06:46 Tweet Share this Email Print Related News Qatar builds $2.65-bn Xstrata stake ahead of Glencore deal 2:39am EDT Corporate sell-offs seen increasing mining M&A Tue, Mar 27 2012 Abu Dhabi royals involved in RBS talks: sources Tue, Mar 27 2012 UPDATE 3-UK in talks to sell part of RBS stake to Abu Dhabi -BBC Mon, Mar 26 2012 Canada's Viterra puts Glencore in grain's top tier Tue, Mar 20 2012 Analysis & Opinion Australia worse than Africa for mining? Yikes!: Clyde Essential tax and accounting reading: GOP budget detailed, EU transfer tax fading, Australia taxes mining, UK and Switzerland settle, and more Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Inflows Outflows » A logo of the Swiss mining company Xstrata is pictured at its headquaters in Zug, February 6, 2012. Credit: Reuters/Romina Amato By Dinesh Nair DUBAI | Mon Apr 9, 2012 2:46am EDT DUBAI (Reuters) - Qatar's sovereign wealth fund has built a 5-percent stake in Xstrata (XTA.L) ahead of the mining giant's planned $41 billion takeover by commodities trader Glencore (GLEN.L). The tiny Gulf Arab state's sovereign wealth fund, Qatar Investment Authority (QIA), now ranks as the third-largest shareholder in Xstrata behind Glencore and asset manager BlackRock Inc (BLK.N), according to Reuters data. Regulatory filings showed that Qatar, which owns stakes in Credit Suisse (CSGN.VX) and supermarket chain Harrods, built up its Xstrata holding -- worth $2.65 billion at current prices -- through a series of stock market transactions which began soon after Glencore announced it was buying the company. No immediate comment was available from the Qatar fund. Potential support for Glencore from Qatar could be key in seeing through the Xstrata acquisition, which has run into opposition from key shareholders including Standard Life Investments and Schroders (SDR.L). Glencore plans to buy Xstrata, the world's no.4 miner, in an all-share transaction that could create a combined group worth more than 50 billion pounds ($79 billion), shaking up the industry with its biggest deal to date. Glencore, the world's largest diversified commodities trader, already owns 34 percent of Xstrata and a tie-up between the two -- a deal which would trump Rio Tinto's (RIO.L) $38 billion acquisition of Alcan in 2007 -- has long been expected, as Glencore aims to add more mines to its trading clout. The merger needs to be approved by 75 percent of shareholders excluding Glencore, which is barred from voting. Qatar's sovereign wealth fund, estimated to have assets of around $100 billion, is widely seen as the most aggressive in the world, ploughing the tiny Gulf state's gas dollars into a range of Western assets including automakers, prime real estate and global banks. In recent weeks, the tiny Gulf state's sovereign fund has also picked up minority stakes in France's Total (TOTF.PA), conglomerate Lagardere (LAGA.PA) and luxury house LVMH (LVMH.PA). (Reporting by Dinesh Nair; Editing by Sitaraman Shankar) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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Reuters: Deals: India's Reliance Media in tie-up talks with Cinepolis: report

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India's Reliance Media in tie-up talks with Cinepolis: report Apr 9th 2012, 03:53 Anil Dhirubhai Ambani Enterprises group's Chairman Anil Ambani speaks during a news conference in Mumbai March 6, 2006. Credit: Reuters/Punit Paranjpe

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Reuters: Deals: KSL raises Great Wolf bid, challenging Apollo

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KSL raises Great Wolf bid, challenging Apollo Apr 8th 2012, 21:58 NEW YORK | Sun Apr 8, 2012 5:58pm EDT NEW YORK (Reuters) - Private equity firm KSL Corp raised its bid for Great Wolf Resorts Inc (WOLF.O) by 12 percent to $234 million as it works to top rival buyout group Apollo Global Management (APO.N) in their battle to acquire North America's largest operator of indoor water parks. Great Wolf said in a statement that it had received an unsolicited letter from KSL proposing to buy the company for $7 a share in cash. That bid came in reaction to the company's latest agreement to sell itself to Apollo for $6.75 a share, or $225.7 million. Apollo originally struck a deal in March to buy Great Wolf for $5 a share, or around $165 million. But KSL, which focuses on travel and leisure businesses, made an unsolicited bid of $6.25 a share for the water park company last week, prompting larger rival Apollo to strike a new, 35 percent higher deal on Friday. Great Wolf's popularity as a drive-to family vacation destination has shielded it from slow economic growth and relatively weak consumer confidence, making it a hot property in the eyes of buyout firms looking for assets with strong cash flows. In 2011, its earnings before interest, tax, depreciation and amortization close to doubled year-on-year to $83 million. As part of its arrangement with Apollo, Great Wolf could have to pay up to $9 million for a breakup fee and expenses should it walk away from the deal. Shares in Great Wolf closed at $6.58 on the Nasdaq on Thursday. (Reporting by Michael Erman; Editing by Dale Hudson) Link this Share this Digg this Email Reprints

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Reuters: Deals: GNF in talks to buy BG stake in Gujarat Gas: source

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GNF in talks to buy BG stake in Gujarat Gas: source Apr 8th 2012, 20:05 By Prashant Mehra MUMBAI | Sun Apr 8, 2012 4:05pm EDT MUMBAI (Reuters) - Spanish utility Gas Natural Fenosa (GAS.MC) is in talks with BG Group Plc (BG.L) to buy the UK oil and gas company's 65 percent stake in India's Gujarat Gas (GGAS.NS), a source with direct knowledge of the matter said on Sunday, in a deal valued at about $900 million. A three-member consortium of state-run Oil and Natural Gas Corp (ONGC.NS), Bharat Petroleum Corp Ltd (BPCL.NS) and Gujarat State Petroleum Corp (GSPC) is the only other bidder in talks on buying BG's stake. The Indian unit of BG, which announced its intention to sell its stake in Gujarat Gas last November, hopes to finalise the deal with either of the two bidders by early May, the source told Reuters, declining to be identified as he is not authorized to speak to the media. Germany's biggest utility, E.ON AG (EONGn.DE), UK-based private equity firm Actis, and India's Adani group and Torrent group had been among the initial bidders for the BG stake, but dropped out given stiff valuations. While the Spanish utility is likely to have bid close to the market price, the Indian consortium has valued the stake at a discount, the source said. BG's 65 percent stake in Gujarat Gas is valued at about $700 million at the current market price. The company acquiring the BG holding will have to make a mandatory open offer for an additional stake, valuing the total deal at about $900 million. Shares in Gujarat Gas, which has a market value of about $1 billion, ended at 403.05 rupees on Friday. Officials at BG and Gas Natural were not immediately available for comment. The Spanish utility has a wide presence in Europe and North Africa and has been looking to expand internationally, mostly in Latin America. It currently has no presence in India. Gujarat Gas, set up in 1980, supplies piped gas to 317,000 domestic and industrial customers and compressed natural gas to 144,000 users, mostly across Surat, Bharuch and Valsad in the western state of Gujarat. The company also operates a 3,700-km (2,300-mile) gas pipeline network. BG, which acquired control of the western India-focused gas distribution company in 1997, is keen to sell its stake in Gujarat Gas as part of restructuring its asset portfolio. Globally, BG Group focuses on exploration and production activities and liquefied natural gas. India's current gas demand of 166 million cubic metres a day (mmscmd) is projected to rise to 443 mmscmd by 2017, due to the growing number of power plants, industries and vehicles in Asia's third-largest economy. (Editing by Dale Hudson) Link this Share this Digg this Email Reprints

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Reuters: Deals: Bangladesh says ConocoPhillips seeking more gas blocks

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Bangladesh says ConocoPhillips seeking more gas blocks Apr 8th 2012, 11:16 DHAKA | Sun Apr 8, 2012 7:16am EDT DHAKA (Reuters) - Bangladesh says U.S. energy firm ConocoPhillips (COP.N) is seeking to expand operations in the Bay of Bengal following a U.N. tribunal border ruling which cleared the way for more offshore oil and gas exploration in the region. A senior energy official said on Sunday the U.S. company sought exploration rights in six new deep-water gas blocks in the Bay after a tribunal ruled last month in favor of Bangladesh in a decades-old maritime border dispute with Myanmar. "The U.S. firm has expressed its willingness to get more blocks to explore oil and gas in the deep sea," said Muhammad Hussain Monsur, chairman of the state-run Bangladesh Oil, Gas and Mineral Corporation known as Petrobangla. ConocoPhillips made no comment. ConocoPhillips, which was awarded two deep-sea blocks by Bangladesh four years ago to explore oil and gas, has already completed seismic surveys in those blocks and is hoping to proceed with exploration work soon. Neighboring Myanmar had previously protested against Bangladesh awarding the offshore blocks to explore gas and oil, claiming they overlapped Yangon's territorial waters. "ConocoPhillips is now able to operate within the full area of DS-08-11 block as the maritime boundary dispute with Myanmar has been ended," Monsur said. ConocoPhillips pledged to invest $110.66 million and offered a bank guarantee of the same amount for its two approved deep-water offshore blocks.

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