Deals du Jour

September 24, 2009

Canadian media firm CanWest Global Communications Corp will sell down its 50.1 percent stake in Australia’s Ten Network, worth about A$714 million ($620 million), in a move that could put Ten into play.

In other M&A news reported by Reuters and other media on Thursday:

* Chilean forestry group CMPC said it is in talks to buy a unit of Brazilian giant Aracruz for $1.4 billion, which would give it access to the world’s cheapest pulp producing market.

* Chinese solar wafer manufacturer ReneSola said it will buy Dynamic Green Energy Ltd for about $88.5 million, mostly in stock, expanding the arts company into the market for solar panels.

* U.S. pharmaceuticals company Abbott Laboratories has made an offer to buy the drug unit of Belgian conglomerate Solvay SA, competing with Swiss drugmaker Nycomed, the Wall Street Journal says, citing people familiar with the matter.

* Toyota will sell its brokerage unit to Tokai Tokyo Financial as part of efforts to consolidate resources into automobile operations, the Nikkei business daily reports.

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