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Potential deal activity in the EMEA financial sector through Oct. 6


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Potential deal activity in the EMEA financial sector through Oct. 6

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 where a target's headquarters is located, is based on information obtained by S&P Global Market Intelligence and may not be inclusive of all potential deal activity.


* Old Mutual Plc CEO Bruce Hemphill told Reuters the insurer is exploring all options for Old Mutual Global Investors (UK) Ltd. and is looking at potential industry and private equity buyers for the business. "Sources familiar with the matter" also told the newswire that Old Mutual is seeking to obtain at least £500 million for the unit, which has attracted bids from firms such as Hellman & Friedman LLC and TA Associates. Potential buyers had until the end of the week of Sept. 25 to table tentative bids, according to the sources. Meanwhile, Hemphill also told the newswire that the group could sell its subsidiaries in China, Mexico, Colombia and Uruguay.

* Dmitry Tulin, the first deputy head of the Russian central bank, said that lenders B&N Bank and Otkritie Financial Corp. Bank are very likely to merge in the future, TASS reported. Earlier,central bank head Elvira Nabiullina said the regulator could sell the shares of the two banks in an IPO after the financial recovery process is complete to attract "mass investors," according to Kommersant.

* Banco Bilbao Vizcaya Argentaria SA said it was in talks with Cerberus Capital Management LP to sell its Spanish real estate business, after digital newspaper Vozpópuli reported that BBVA could seal a potential deal by October to dispose of real estate unit Anida Grupo Inmobiliario SL and a significant chunk of its real estate assets to the U.S. private equity firm. Spanish daily Cinco Días reported that BBVA would only sell 20% of Anida for about €400 million.

* Italian insurer Società Cattolica di Assicurazione -Società Cooperativa said it will bid to become Banco BPM SpA's insurance partner and will offer to purchase majority stakes in life insurer Popolare Vita SpA, which Banco BPM and Unipol Gruppo SpA jointly own, and Avipop Assicurazioni. The company reportedly submitted a bid worth €700 million to €750 million a day after the announcement, according to Italy's FinanzaReport, which added that France's SGAM Covéa also submitted an offer to Banco BPM's adviser, KPMG. Banco BPM has reportedly scheduled a board meeting for Oct. 17 to decide on the offers.

* Munich Re unit ERGO Group AG is considering options for ERGO Leben and Victoria Leben, Reuters reported. Various sources told the newswire that no decision has yet been taken on what price the businesses may be sold at, with the process at a very early stage.

Rest of the world

* Prudential Plc has begun the process of selling Vietnamese consumer finance business Prudential Vietnam Finance Co., "people familiar with the matter" told Reuters. The sale process of the unit, which offers mortgages and personal loans, is in its initial stages, while a potential deal could fetch a sale price of $150 million, according to the report.

* Commercial Bank (PSQC) said it granted an unidentified third party a 90-day period of exclusivity to negotiate the terms of a potential sale of the Qatari lender's stake in United Arab Emirates-based United Arab Bank PJSC.

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