July 15, 2014 / 1:33 PM / 6 years ago

Deals of the day- Mergers and acquisitions

(Adds Reynolds American, Liberty Global, Albemarle Corp, SSAB, Espirito Santo, Public Bank, Severstal)

July 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Tuesday:

** Reynolds American Inc said it would buy rival Lorillard Inc for about $25 billion, merging two of the world’s biggest cigarette makers amid a slowdown in sales.

** Chemicals maker Albemarle Corp said it would buy rival Rockwood Holdings Inc for $6.2 billion to tap the fast-growing demand for lithium products used in mobile phone and automobile batteries.

** Indian Prime Minister Narendra Modi’s government will decide next month on the sale of a $3 billion stake in state oil firm Oil and Natural Gas Corp, in a major test of whether he can follow through on reforms outlined in his first budget.

** Swedish steelmaker SSAB gained European Union regulatory approval on Tuesday for its $1.6 billion bid for Finnish peer Rautaruukki Corp after agreeing to sell five businesses in Finland, Sweden and Norway.

** U.S. buyout giant KKR & Co LP is expected to join Australia’s Pacific Equity Partners to lodge a $1 billion bid for Australian compliance company SAI Global Ltd, two sources familiar with the matter told Reuters.

** Carlos Slim’s America Movil said on Monday that it would take control of just over half of Telekom Austria in a $1 billion buyout offer, giving the Mexican billionaire a base to build up his presence in European telecoms.

** Privately held U.S. billboard company Van Wagner, which owns billboards in New York’s Times Square and on buses on the Las Vegas strip, is exploring a sale that could fetch more than $600 million, people familiar with the matter said.

** Furniture maker Leggett & Platt said it was looking to divest its underperforming store fixtures business and that it expected to take a $108 million goodwill impairment related to the business in the second quarter.

** Chinese e-commerce giant Alibaba Group Holding IPO-BABA.N and Lions Gate Entertainment Corp, the studio behind the ‘Hunger Games’ films, will launch a subscription streaming service in China, the companies said.

** U.S. cable company Liberty Global has offered concessions to head off European Union regulatory concerns over its proposed bid for Dutch peer Ziggo, the European Commission said on Tuesday.

** Portugal’s Espirito Santo family is racing to find a way to repay 847 million euros ($1.16 billion) in maturing debt, on which the terms of a major telecoms merger hang.

** Global buyout firm Lone Star Funds is looking for buyers for a complex of buildings in central Tokyo after exclusive talks with Singapore’s sovereign wealth fund GIC Pte Ltd stalled due to a legal dispute over the property’s ownership, according to three people with direct knowledge of the matter.

** Israel’s Finance Ministry and Israel Corp have reached a compromise regarding the government’s “golden share” in the country’s biggest shipping company Zim, paving the way for a $3 billion debt restructuring plan to move ahead.

** After months of trying to push Dish Network Corp Chairman Charles Ergen out of its capital structure, bankrupt wireless venture LightSquared on Monday proposed a turnaround plan that would make Ergen its primary lender after bankruptcy.

** Russia’s Severstal has agreed to sell Pennsylvania-based coal producer PBS Coals to Canada’s Corsa Coal for an enterprise value of $140 million, the Russian company said on Tuesday.

** Malaysia’s Public Bank Bhd has agreed to buy from Vietnamese lender BIDV its stake in their $62.6 million Vietnam-based joint venture, BIDV said on Tuesday.

** Shareholders of Grupo Oi SA are likely to seek to renegotiate terms of a merger with Portugal Telecom SPGS SA if the latter’s debt investments with Banco Espirito Santo SA end up in default, Brazilian Communications Minister Paulo Bernardo said on Monday.

** Danish investment company Novo A/S said it bought hearing technology firm Sonion from Swedish private equity firm Altor, entering a market in which Denmark has been a major player for decades. ($1 = 0.73 euros) (Compiled by Ankit Ajmera in Bangalore)

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