Deals du Jour

September 30, 2009

French food group Danone has agreed to sell its 51 percent stake in its joint ventures with China’s Wahaha group, putting an end to legal proceedings related to the disputes between the two. In 2007, Danone accused Wahaha of illegally setting up parallel business outside their ventures. 

McGraw-Hill Cos is leaning toward selling its money-losing BusinessWeek magazine to Bloomberg LP, a person familiar with the matter tells Reuters. Bloomberg Markets, a financial news magazine that produces feature stories, and the 80-year-old BusinessWeek could be blended to make a title that would expand Bloomberg’s presence beyond its financial data clients and reach a mainstream audience.

For more on these stories and the rest of the latest deals news from Reuters, click here .

In M&A news from Wednesday’s newspapers:

Russian state bank VEB may get a stake in the troubled carmaker AvtoVAZ (AVAZ.MM) by acquiring an issue of its infrastructure bonds and converting them into equity, Kommersant business daily reports.

U.S. investment company Starwood Capital  is attempting to gain control of lodging chain Extended Stay Inc, the Wall Street Journal reports, citing people familiar with the matter.

Private equity firms Carlyle Group and 3i (III.L) are among those holding preliminary discussions to take a minority stake in India’s Strides Arcolab’s (STAR.BO) injectables business, the Economic Times reported, citing banking sources.

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