Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Deals of the day-Mergers and acquisitions

Published 2019-07-24, 04:16 p/m
© Reuters.  Deals of the day-Mergers and acquisitions
ABBN
-
DBKGn
-
MBGn
-
VIV
-
TTEF
-
IDR
-
BMWG
-
DTEGn
-
RR
-
CASP
-
GE
-
GBKK
-
LNKD
-
MRFG3
-
PETR4
-
EVDG
-
TMUS
-
ONEX
-
WJA
-
FNAC
-
PEA
-
JFC
-
B4B
-

(Adds Fnac Darty, Rolls-Royce, ABB, Vivendi )

July 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** French electronic goods retailer Fnac Darty FNAC.PA said it entered exclusive talks to buy the French unit of Germany's CTS Eventim EVDG.DE in a bid to strengthen its ticketing business. Rolls-Royce RR.L said that its discussions with Indra Sistemas SA IDR.MC , which had expressed interest in acquiring a majority stake in the British group's Spanish business ITP Aero, have ended without agreement. ABB ABBN.S has begun a review of its Integrated Direct Current Power business, the latest stage of the Swiss engineering company's overhaul to tackle years of underperformance. French media group Vivendi VIV.PA is set to appoint several investment banks for the sale of up to 50% of Universal Music Group, its most-prized asset, said a source close to the matter. The official receiver to British Steel has been "encouraged" by interest shown in buying the company, which was put into compulsory liquidation in May, Business Minister Greg Clark told parliament. Listed Brazilian meat producer Marfrig Global Foods SA MRFG3.SA is a potential bidder for Paraguay's Frigorífico Concepción SA, according to a report in newspaper Valor Econômico. Kuwait Investment Authority (KIA) has sold a 16.1% stake in Gulf Bank GBKK.KW to Alghanim Trading Co for 152.93 million dinars ($503 million), making the business conglomerate the biggest shareholder of the country's fourth-biggest bank, according to a bourse filing. Brazilian state-run oil company Petroleo Brasileiro SA PETR4.SA relinquished control of the country's biggest fuel distributor in a share offering, which may raise up to 9.6 billion reais ($2.5 billion). Jollibee Foods Corp JFC.PS , Philippines' largest food service network operator, is buying U.S. brand Coffee Bean & Tea Leaf (CBTL) for $100 million as part of an expansion outside its home market. Metro B4B.DE recommended its shareholders turn down a takeover offer by EP Global Commerce, which is owned by Czech and Slovak investors, arguing that the 5.8 billion euro ($6.5 billion) bid undervalues the German retail group. Daimler DAIGn.DE has no plans to spin off its trucks division or to pursue a merger with BMW BMWG.DE as a way to raise the company's share price, Chief Executive Ola Kaellenius said. Deutsche Telekom (DE:DTEGn) DTEG.n.DE has called a leadership meeting in expectation of U.S. regulatory approval of the proposed merger of its U.S. T-Mobile TMUS.O unit with rival Sprint S.N , according to business daily Handelsblatt. China's ByteDance is venturing into artificial-intelligence (AI) generated music, hiring the staff of a London-based start-up after buying some of its intellectual property assets, according to LinkedIn (NYSE:LNKD) posts and a person with knowledge of the matter. French supermarket retailer Casino CASP.PA has signed pledges to sell three of its Geant Casino hypermarkets for 42 million euros ($46.8 million) as it seeks to reduce debt. KKR & Co KKR.N said it is buying Campbell Soup Co's CPB.N Australian snacks unit Arnott's that will give it ownership of top-selling biscuit brands such as Tim Tam, in a deal local media reported was worth $2.2 billion. Garda World Security on Tuesday said private equity firm BC Partners would buy a majority stake in the Canada-based security services company. Australian electricity generator Pacific Energy PEA.AX recommended a A$419.3 million ($293.3 million) takeover offer from fund manager QIC Private Capital. Deutsche Bank AG's DBKGn.DE turnaround strategy rests in large part on shedding 288 billion euros of unwanted assets. Three bank insiders said it will take years, tying up capital that could have generated income of 500 million euros ($557 million) a year. Starwood Capital Group and Apollo Global Management APO.N have submitted offers to buy an aircraft-financing business owned by General Electric (NYSE:GE) Co GE.N that could be valued at about $4 billion, Bloomberg reported on Tuesday, citing people familiar with the matter. Shareholders of WestJet Airlines WJA.TO on Tuesday voted in favor of its deal to be acquired by billionaire Gerry Schwartz's private equity firm Onex Corp ONEX.TO for C$3.5 billion. The U.S. Federal Trade Commission said on Tuesday it had given approval for Quaker Chemical Corp's KWR.N proposed $1.4 billion acquisition of Hinduja Group's Houghton International HGINL.UL provided they sell certain products and assets to a subsidiary of Total SA TOTF.PA .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.