S&P Global Market Intelligence presents In Play Today, a periodic summary of potential deal activity in the financial sectors of Europe, the Middle East and Africa. This summary, which is displayed according to the location of a target's headquarters, is based on information obtained by S&P Global Market Intelligence and may not be inclusive of all potential deal activity.
Europe
* U.K. insurer Legal & General Group PLC is in advanced talks to acquire fellow shareholder Patron Capital Ltd's 47.5% stake in homebuilder CALA Group Ltd. in a deal that would value the latter at over £500 million, Sky News reported.
* A Zurich Insurance Group AG unit is said to be leading the race to buy Ireland-based insurance intermediary Blue Insurance, with industry sources saying the potential deal could amount to around €50 million.
* U.S.-based Atlas Merchant Capital LP is in talks to acquire a stake in French financial services firm Kepler Cheuvreux SA from BlackFin Capital Partners, which owns 20% of the company, Bloomberg News reported.
* U.S.-based Federated Investors Inc. has begun exclusive discussions with Hermes Investment Management Ltd. to acquire a controlling stake in the London-based asset management firm, Reuters reported.
* Goldman Sachs Group Inc. and Société Générale SA made final offers for Commerzbank AG's equity markets and commodities unit, Bloomberg News reported. Commerzbank expects to choose the final buyer in March.
* Sweden's Resurs Bank AB (publ) plans to merge with wholly owned Norway-based unit yA Bank AS through a cross-border merger expected to complete in 2018.
Rest of the world
* U.K. insurer Prudential PLC is in advanced talks with Malaysian pension fund Kumpulan Wang Persaraan to divest a 30% stake in unit Prudential Assurance Malaysia Bhd., Reuters reported. The stake is reportedly valued at US$435 million.
* Prudential partnered with Indian billionaire Azim Premji to bid for a controlling stake in Indian insurer Star Health and Allied Insurance Co. Ltd., The Economic Times reported.
* The Warsaw stock exchange, or Gielda Papierów Wartosciowych w Warszawie SA, submitted a nonbinding offer with Polish development fund PFR to acquire a 71.7% stake in Tel - Aviv Stock Exchange Ltd. The Warsaw firm is one of up to 10 stock exchanges, including entities from London, Toronto, Hong Kong, Singapore and Australia, that are interested in purchasing a controlling stake in the Israeli Exchange Ltd., Reuters reported.
* Qatar's Commercial Bank (PSQC) further extended to April 2 the exclusivity period for private equity firm Tabarak Investment, the potential buyer of its 40% stake in United Arab Emirates-based United Arab Bank PJSC.
* Qatar's central bank is considering the proposed merger between Masraf Al Rayan QPSC, Barwa Bank QSC and International Bank of Qatar (QSC), Bloomberg Quint reported, citing Masraf Chairman Hussain Al-Abdulla.
* Atef el-Maghraby, vice chairman of Egyptian lender Banque Misr SAE, said several investors are interested in acquiring its 10.78% stake in Cairo Amman Bank, with a deal expected to be finalized sometime in 2018, Bloomberg News reported. Banque Misr also plans to sell stakes in five other companies, including part of its 100% shareholding in Banque du Caire SAE and its 2% stake in Saudi Arabia-based Samba Financial Group.
* India's Hinduja Group Ltd. is preparing to buy a majority stake in Mauritian lender MauBank Ltd., Bloomberg News reported, adding that Hinduja could acquire up to 75% of the bank.

