Deals du Jour
Time Warner Inc (TWX.N), which plans to spin off AOL by the end of the year, said in a filing with the U.S. Securities and Exchange Commission that it paid $283 million for Google Inc’s (GOOG.O) 5 percent stake in AOL.
In other M&A related stories reported by Reuters and other media on Tuesday:
German flagship carrier Deutsche Lufthansa (LHAG.DE) said it has applied with the Austrian Takeover Commission to extend a deadline for a planned deal to acquire Austrian Airlines (AUAV.VI) by a month to Aug. 31. Click here for a Reuters story.
Private equity group CVC Capital Partners was prepared to offer up to 1.5 billion euros ($2.1 billion) for Anheuser-Busch InBev’s (ABI.BR) Central and Eastern European assets, ahead of a Monday deadline, newspaper De Tijd reports. The private equity firm was in talks with 13 banks, including HSBC, Unicredit and Calyon to secure a loan of at least 700 million euros. While TPG Capital was still in the running, KKR had dropped out of the proceedings.
China National Offshore Oil Corp (CNOOC) (0883.HK) said it would ratchet up its efforts to acquire more energy assets abroad in the second half and next year to secure oil supplies for the world’s second-largest energy user. Click here for a Reuters report.