Done Deals

Straight Plc, the AIM-traded recycling products and services group, has acquired Harcostar Garden Products from Harcostar Drums for £400,000 in cash. The consideration will be satisfied with an initial payment of £250,000 followed by £150,000 in April 2009.

Germany-based technology group GEA has strengthened its refrigeration division with the acquisition of Norwich-based food freezing equipment manufacturer Eurotek Engineering for an undisclosed sum.

Hargreaves Services Plc, a supplier of products and support services to the energy, mineral and waste sectors, has acquired the remaining 50 per cent interest in Coal4Energy from UK Coal Plc for £9 million.

WPP, an international provider of advertising, marketing, communication services and activities, has agreed to subscribe for a 20 per cent stake in Smart Media Joint Stock Company, a marketing and communications company in Vietnam. The terms of the deal remain undisclosed.

SABMiller Plc has announced that its Romanian subsidiary, Ursus Breweries, has acquired a 71 per cent stake in the Romanian brewer Bere Azuga. Bere Azuga, which produces the Azuga and Valea Prahovei brands, operates from a brewery located in Transylvania. The value of the gross assets acquired is €24.8 million.

Vodafone has confirmed that its cash offer for all the shares in Wayfinder Systems has been accepted by shareholders holding 16,295,612 shares in the Swedish company. The operator made its SEK239 million (£21 million) cash move for Wayfinder in December.

Deal in the Pipeline

Shares surged 35 per cent in UK non-life insurer Chaucer Holdings as it announced that it had received an unsolicited offer from an unnamed third party. The proposal would be for an all-share, nil-premium basis deal, the company said.