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Deals of the day-Mergers and acquisitions

Published 2018-07-31, 04:00 p/m
Updated 2018-07-31, 04:00 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds United Parcel Service, Bayer, Embraer, Poste Italiane; Updates Brookfield Asset Management , Southern Power Grid)

July 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Contact Energy Ltd CEN.NZ said it will sell Rockgas Ltd, which holds the company's LPG business, to an associate of First Gas Ltd for NZ$260 million ($177 million) in cash. Embraer EMBR3.SA said it will defend itself against a lawsuit brought by leftist lawmakers aimed at halting a bid by Boeing (NYSE:BA) Co BA.N to take over most of the Brazilian planemaker's commercial jet unit, the latest legal headache for the proposed tie-up. Canada's Alberta Investment Management Corp (AIMCo) said it reached an agreement with Brazilian private equity firm IG4 Capital Investimentos SA to inject 400 million reais ($107 million) in the Brazilian water and sewage service holding company Iguá Saneamento SA for an undisclosed stake. Oil company Total Gabon EGAB.PA has sold its 32.9 percent stake in the Rabi-Kounga field located in the southern onshore region of Gabon, in a deal valued at around $100 million. Sweden's SKF SKFb.ST , the world's biggest maker of industrial bearings, on Tuesday said it had agreed to divest its linear and actuation technology business to investment firm Triton for 2.75 billion crowns ($314 million). Vedanta Resources Plc VED.L Chairman Anil Agarwal's family trust on Tuesday offered about $1 billion in cash to take the London-listed miner private. Norway's independent oil firm Aker BP (LON:BP) AKERBP.OL has agreed to buy stakes in 11 production licenses off Norway from French Total TOTF.PA for a cash consideration of $205 million, the company said. HeidelbergCement HEIG.DE , the world's second-largest cement maker, said it expects growth to continue in the United States and northern Europe as it reported a 9 percent jump in like-for-like sales in the second quarter. Britain's competition watchdog will open a more in-depth probe into Experian Plc's EXPN.L acquisition of ClearScore after the world's biggest credit data company chose not to offer proposals to address concerns from the regulator. The chief executive of Thomas Cook TCG.L said the holiday company was not currently planning to sell its airline business following media speculation that it was considering spinning it off. French tycoon Vincent Bollore is looking to cash in on the music industry's revival with plans to sell up to half of Vivendi's VIV.PA iconic Universal Music division - an asset worth up 30 billion euros ($35 billion). Indonesian regulators have cleared Japanese lender Mitsubishi UFJ Financial Group's (MUFG) 8306.T plan to increase its stake in Bank Danamon BDMN.JK to 40 percent, bringing MUFG closer to completing what could be the biggest takeover of an Indonesian firm. Canada's Alberta Investment Management Corporation (AIMCo) said it reached an agreement with Brazilian private equity firm IG4 Capital Investimentos SA to inject 400 million reais ($107.26 million) in the Brazilian water and sewage service holding company Iguá Saneamento SA for an undisclosed stake. HeidelbergCement HEIG.DE could buy parts of LafargeHolcim's LHN.S business in Indonesia that is up for sale, HeidelbergCement Chief Executive Bernd Scheifele said. Poland's mBank MBK.WA Chief Executive Cezary Stypulkowski said the bank did not rule out future acquisitions but was not looking at the sale of Eurobank, a Polish arm of Societe Generale (PA:SOGN) SOGN.PA More than ten bidders have made indicative offers for Italian solar plants being sold by Glennmont Partners, three sources said, in a further sign of growing appetite for green energy assets in Italy. Industrial products maker Fortive Corp FTV.N said it would acquire software maker Accruent from Genstar Capital for about $2 billion in cash. State-owned China Southern Power Grid has agreed to buy a minority stake in European utility Encevo, as Chinese firms continue to acquire assets in Europe even as governments in the region try to limit their influence. Financial software maker SS&C Technologies Holdings Inc SSNC.O said it would buy Eze Software from TPG Capital for $1.45 billion in cash, to expand its offerings to buy-side investment firms. Brookfield Asset Management Inc BAMa.TO said it would buy Forest City Realty Trust Inc FCEa.N in a deal valued at $11.4 billion, including debt, months after Forest City ceded board control to activist shareholders. United Parcel Service Inc (NYSE:UPS) UPS.N said it would partner with a Los Angeles-based company to develop an electric medium-duty delivery truck, as the package delivery company expands its fleet of alternative-fuel vehicles. Bayer BAYGn.DE has agreed to sell its established prescription dermatology brands to Denmark's Leo Pharma, as the German drugmaker focuses on integrating seed maker Monsanto (NYSE:MON) and on bolstering its drug development pipeline. A proposed joined venture between Brazilian planemaker Embraer SA EMBR3.SA and Boeing Co BA.N , originally slated to close by the end of next year, could be finalized earlier in 2019, Embraer Chief Executive Paulo Cesar Silva said. Poste Italiane PST.MI and UniCredit CRDI.MI have teamed up in the consumer credit business, the post office and Italy's biggest bank by assets said in a joint statement.

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