Deals du Jour

July 24, 2009

China’s Sinochem approaches Australian farm chemicals group Nufarm about a possible takeover, the second time Nufarm gets interest from a Chinese firm in the past two years. The Australian group has a market value of almost US$1.9 billion, and the news sent its shares soaring.

Other deals reported by Reuters and other media on Friday included:

Spain’s Cosmen family and private equity group CVC have made a joint takeover approach for British bus and rail group National Express, the Financial Times reports, citing people close to the situation.

Hedge fund Fortress Investment Group is looking to go on an acquisition drive, which may include buying banks, insurers, and other hedge funds and financial firms, the FT reports, citing a memo.

Troubled U.S. lender CIT Group is most likely to sell its aviation and rail finance operations, the Wall Street Journal reports, citing sources familiar with the matter.

Three private equity firms have agreed to buy a combined near 10 percent stake of China UnionPay as the country’s monopoly card payments service provider aims to go public next year, sources with direct knowledge of the deal tell Reuters. CITIC Private Equity, V-Stone Investments and a local investor are among the buyers, the sources say.

Sony will likely invest more than $1.1 billion in a planned liquid crystal display TV panel venture with Sharp Corp, the Nikkei business daily reports. For the Reuters story click here.

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