(Adds Apple, TUI; Updates Raiffeisen)
Sept 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2015 GMT on Wednesday:
** Canada's Brookfield Asset Management Inc is close to finalizing the purchase of Brazilian engineering conglomerate Odebrecht SA's stake in a water and sewage firm after due diligence procedures slowed the transaction for months, two people with direct knowledge of the matter said.
** Venezuela's state oil company Petroleos de Venezuela SA said it has awarded $3.2 billion in contracts to drill wells in the Orinoco Belt, although sources close to the matter said some foreign partners are uncomfortable with the rushed tender and structural problems that could hinder projects.
** Austria's Raiffeisen Bank International and parent Raiffeisen Zentralbank have deferred a decision on whether to merge to boost their capital reserves after coming third-last in European stress tests.
** India's cabinet cleared the purchase of 36 Rafale fighter jets from Dassault Aviation SA, paving the way for signing a deal that Prime Minister Narendra Modi is betting on to modernize the air force, a government source told Reuters.
The value of the deal, which had been repeatedly held up as the two sides haggled over financial terms, was not immediately available.
** Europe's biggest tour operator TUI AG has picked advisers to launch the sale of specialist holiday arm Travelopia in a deal potentially worth 500-600 million euros ($557-$669 million).
** The province of Ontario said it has signed an agreement with equity fund Bedrock Industries LP to restructure U.S. Steel Canada, but the deal still requires approval from other stakeholders and a Canadian court.
** McLaren damped down a report that Apple Inc had made an approach for the British Formula One team owner and supercar maker.
** French gas and power group Engie SA is not considering selling its liquefied natural gas (LNG) activities but confirmed it will exit burning coal and producing oil, Chief Executive Isabelle Kocher told Reuters.
** India's biggest refiner Indian Oil Corp Ltd and gas transporter Gail (India) Ltd will buy a combined 49 percent stake in a liquefied natural gas terminal being built in the eastern state of Odisha.
** Shareholders in Portugal's Banco BPI lifted a 20 percent voting right limit, clearing the way for a takeover bid by Spain's Caixabank and ending months of wrangling between stakeholders.
** China's Benxi Iron and Steel Group is no longer part of an auction to sell stakes in state-owned firms to strategic investors, an official list shows, amid rumors that a long postponed merger with local rival Anshan Iron and Steel (Angang) is set to resume.
** Innogy, the renewable, networks and retail unit that German utility RWE will list next month, has doubled its stake in Heliatek, a maker of organic solar cells, becoming its largest shareholder, it said.
** America Movil SAB is interested in acquiring some or all of the operations run by struggling Brazilian rival Oi SA, the chief executive of the Mexican telecom giant said in a newspaper interview.
($1 = 0.8965 euros)
($1 = 6.6708 Chinese yuan)
($1 = 0.7714 pounds)
($1 = 1.3204 Canadian dollars)
$1 = 3.26 Brazilian reais Compiled by John Benny in Bengaluru