DealZone Daily

March 16, 2010

Australia’s Arrow Energy says it is in “active discussions” with Royal Dutch Shell and PetroChina over their joint $3 billion takeover offer. The sign of a deal sweetener in the works, analysts say.

Australia and New Zealand Banking Group (ANZ Bank) is searching for a buyer for its 10 percent stake in Vietnam’s Sacombank. The asset is valued at $81 million. HSBC and Standard Chartered also have stakes in Vietnamese lenders.

For these and other Reuters’ deals stories, click here.

And elsewhere in other media:

German luxury carmaker Daimler and French rival Renault are in talks about taking equity stakes in each other to forge a long-term cooperation, the Financial Times says.

Anglo-Australian miner Rio Tinto is in talks with China’s top aluminium group, Chinalco, to develop the Simandou iron ore project in Guinea at an expected cost of $12 billion, Australian newspaper the Age reports.

Australian group Liquefied Natural Gas Ltd has halted construction of its Fisherman’s Landing LNG project pending a takeover offer for its partner, Arrow Energy, according to The Australian Financial Review.

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