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Deals of the day-Mergers and acquisitions

Published 2017-08-25, 04:06 p/m
© Reuters.  Deals of the day-Mergers and acquisitions
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(Adds BHP Billiton (LON:BLT), Selecta, Veritas Capital; Updates Saudi Telecom Company)

Aug 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Anglo-Australian mining giant BHP Billiton Ltd BHP.AX is considering selling a 25 percent interest in its Canadian potash mine project, a stake that could be worth close to $2 billion, people familiar with the matter told Reuters. Brazilian soy protein maker Selecta said its owners had sold a 90 percent stake to South Korea's CJ CheilJedang Corp 097950.KS for 450 million reais ($143 million). Veritas Capital, the New York-based private equity firm, is exploring the sale of radar component-maker Anaren Inc in a deal that could fetch around $700 million, several people familiar with the matter said. PTT Global Chemical Pcl PTTGC.BK , Thailand's largest petrochemical producer, is investing in a $900 million polyols facility with two Japanese partners, the company said. Axis Capital AXS.N , a Bermuda-based specialty insurer and reinsurer, has raised its takeover offer for Lloyd's of London insurer Novae to about 477.6 million pounds ($611.4 million) after a shareholder revolt. Thyssenkrupp TKAG.DE should consider alternatives to a planned merger of its European steel activities with those of Tata Steel TISC.NS , German foreign minister Sigmar Gabriel said. South Africa's cabinet will make a final decision on how to recapitalise state airline South African Airways by end September, Finance Minister Malusi Gigaba said. Saudi Telecom Company 7010.SE is in the lead to buy the 55 percent of fixed-line operator Turk Telekom TTKOM.IS owned by Oger Telecom, sources said, adding that the Turkish government could acquire the $3.9 billion stake if those talks fail. Britain said it had received the additional advice it had requested on Rupert Murdoch's bid to buy broadcaster Sky SKYB.L , and it would decide whether to refer the deal for an in-depth review as soon as possible. EU antitrust regulators cleared Swiss vending services provider Selecta's proposed acquisition of Dutch peer Pelican Rouge, subject to the divestment of all Selecta's vending service activities in Finland. PPC PPCJ.J said AfriSam intends to make a new proposal on a merger of the two South African cement makers after Afrisam terminated its current plan. [nL8N1LB2O8

** Italian bank Intesa Sanpaolo (MI:ISP) has encountered problems syndicating a loan to Glencore (LON:GLEN) and Qatar's wealth fund to finance their purchase of a stake in the Kremlin-controlled oil major Rosneft because of new U.S. sanctions against Russia. China Vanke Co 2202.HK 000002.SZ said it aims to become the world's largest logistics property developer after investing a 21.4 percent stake in Asia's biggest warehouse operator Global Logistic Properties (GLP) GLPL.SI . The board of Pegas Nonwovens PGSN.PR has backed a takeover offer from R2G, the bidder said, adding it was ready to absorb short-term losses and would limit or halt the dividend. Western Digital Corp WDC.O , part of a group offering to buy Toshiba Corp's 6502.T memory chip unit, is not seeking a management role in the business, people familiar with the matter told Reuters. British insurer Aviva AV.L said it would sell its 50 percent stake in its joint venture in Italy, Avipop Assicurazioni and its unit Avipop Vita to Italy's Banco BPM BAMI.MI . JD.com Inc JD.O has invested in Indonesian ride-hailing startup Go-Jek, people familiar with the matter told Reuters, in the latest move by China's second-largest e-commerce firm to tap growth in Southeast Asian mobile-based services. Shares in debt-ridden oil services group CGG GEPH.PA surged for a fourth consecutive day, with traders and fund managers citing continuing speculation of a bid from China's Sinopec 600028.SS as the main driver for the rally. South African miner Northam Platinum NHMJ.J has received government approval for its 1 billion rand ($76 million) mining rights acquisition of an Anglo American (LON:AAL) Platinum AMSJ.J (Amplats) asset, the companies said. Around 50 investors have shown an interest in buying textiles company Wolford WLFD.VI , the Austrian group's finance chief was quoted as saying. Fiat Chrysler (FCA) FCHA.MI said it would evaluate any inquiries about potential transactions, but did not have anything to add to its previous comments on reported interest from China's Great Wall Motor 601633.SS in its Jeep brand. A consortium led by China Three Gorges Corp CYTGP.UL has agreed to buy a hydroelectric plant in Peru from scandal-plagued Brazilian builder Odebrecht SA ODBES.UL for $1.39 billion, a person with knowledge of the deal said on Thursday. Brazilian construction conglomerate Odebrecht has signed a deal to sell its 456 megawatt (MW) Chaglla hydroelectric plant in Peru to a consortium led by China Three Gorges Corp for an undisclosed amount, the company said late on Thursday. Brazil's Raízen Energia SA is interested in bidding for an ethanol mill owned by the Brazilian subsidiary of India's sugar producer Shree Renuka Sugars Ltd SRES.NS , which will be auctioned in early September, two sources with knowledge of the matter said. Australia's AGL Energy Ltd AGL.AX said it has agreed to sell its north Queensland gas assets to a consortium of buyers including privately held Shandong Order Gas Co and Orient Energy Ltd.

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