(Reuters) – The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0900 GMT on Monday.
(For Reuters columns on deals, click on [DEALTALK/])
** HSBC will buy up to 70 percent of South Africa’s Nedbank (NEDJ.J), in a potential $6.8 billion deal that would give Europe’s largest lender a bigger presence in Africa’s top economy and a gateway to the fast-growing continent. HSBC (0005.HK) (HSBA.L) and Anglo-South African insurer Old Mutual (OML.L) (OMLJ.J), which owns a controlling stake in Nedbank, said in separate statements on Monday they were in exclusive talks about the deal.[ID:nLDE67M05Q]
** London-based Vedanta Resources’ (VED.L) proposed acquisition of a majority stake in Cairn India (CAIL.BO) may be scuppered by India’s petroleum ministry, which wants state-owned Oil and Natural Gas Corp (ONGC.BO) to be given a chance to buy the holding, the Mint newspaper reported on Monday.[ID:nSGE67M03E]
** Kuwait Investment Authority (KIA), the country’s sovereign wealth fund agreed to more than double its investment in Agricultural Bank of China’s [ABC.UL] initial public offering to $1.9 billion, a local newspaper said. Qatar Investment Authority (QIA) also raised its stake to $6 billion from $2.8 billion, the paper said on Monday without citing sources, signaling Middle East funds took a big slice of the record IPO.[ID:nLDE67M019]
** Indian utility vehicles maker Mahindra & Mahindra (MAHM.BO) said it had signed a memorandum of understanding to buy a majority stake in troubled South Korean automaker Ssangyong (003620.KS). To read more, double click on [ID:nSGE67M04K] (Compiled by Tina Kwan in Singapore, Soham Chatterjee in Bangalore) ((tina.kwan@thomsonreuters.com; Reuters Messaging: tina.kwan.reuters.com@reuters.net +65 6870 3924))
