Business

Editor: Bruce Meng
7 Oct 2008 06:50:15 GMT

Oct 7 – The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0400 GMT on Tuesday.

** Singapore state investor Temasek Holdings kicked off the sale of electricity generator PowerSeraya, in a deal that could fetch around $2.5 billion. To read more, please double click on

** Japanese apparel maker Renown Inc said it may sell British clothier Aquascutum as part of restructuring that could also include it selling its offices and a distribution centre in its home country. Shares in Renown fell more than 16 percent after a local newspaper reported that the company would sell 155-year-old British raincoat maker Aquascutum by February.

** South Korea’s Hanwha Group is considering selling 20 percent of its life insurance unit to fund its possible purchase of Daewoo Shipbuilding & Marine Engineering, a source close to the company said.

** Malaysia’s Maybank has been offered another 15 percent stake in Bank Internasional Indonesia (BII) at a discount to its original offer price that will cut the total price by more than 200 million ringgit ($57.39 million).

** Commonwealth Bank of Australia (CBA) said it has started exclusive talks with British bank HBOS about a potential takeover of BankWest, HBOS’ Australian operation, estimated to be worth A$2 billion ($1.45 billion).

** Fletcher Building Ltd, New Zealand’s largest building products and construction company, said it would buy steel products company Fielders Australia Pty Ltd.

** Billionaire Bill Gates’s Cascade Investment reported a 5.6 percent active stake in Strategic Hotels & Resorts Inc