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Deals of the day- Mergers and acquisitions

Published 2016-10-07, 04:04 p/m
Deals of the day- Mergers and acquisitions
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Praxair Inc
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Oct 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Britain will resume selling its residual 3.6 billion pound ($4.5 billion) stake in Lloyds Banking Group LLOY.L after a break following the country's vote in June to quit the European Union. Qatari investors who own the largest stake in Deutsche Bank DBKGn.DE do not plan to sell their shares and could consider buying more if it decides to raise capital, sources familiar with Qatari investment policy told Reuters. France reacted angrily on Friday after Poland scrapped a multi-billion dollar helicopter deal with Airbus AIR.PA , saying it would review defence cooperation with its NATO ally and cancelling a presidential visit to Warsaw. Linde LING.DE , the world's biggest industrial gases group by revenue, plans to cut costs and may and may close some sites abroad after failing to merge with U.S. rival Praxair (NYSE:PX) PX.N , German weekly Spiegel reported. China Everbright Group, a state-backed financial firm, bought all the shares of Albania's airport operator for an undisclosed sum on Friday, hailing the deal as part of China's push to build trade links with Europe. German travel and tourism company TUI AG TUIG.L said it would keep pay and conditions in place for three years for employees of its TUIfly airline unit, amid talks on merging TUIfly with loss-making carrier Air Berlin's AB1.DE leisure business. Canadian online gambling company Amaya Inc AYA.TO AYA.O has received strong interest from other companies in the industry and some private equity firms, according to two sources familiar with the situation. Russian top oil producer Rosneft's ROSN.MM purchase of a controlling stake in mid-sized oil company Bashneft BANE is "practically a done deal", Kremlin economic aide Andrei Belousov told reporters on Friday.

** The British government will restart selling down its 3.6 billion pound ($4.45 billion) stake in Lloyds Banking Group LLOY.L , the body set up to manage the process said on Friday, after it was delayed following the vote to leave the European Union. U.S. private equity firm HarbourVest Partners said it had extended its $1.35 billion offer for smaller rival SVG Capital SVI.L , even after the British firm accepted an offer for its investment portfolio from Goldman Sachs (NYSE:GS) GS.N and the Canada Pension Plan Investment Board. Russian top oil producer Rosneft's ROSN.MM purchase of a controlling stake in mid-sized oil company Bashneft BANE.MM is "practically a done deal", Kremlin economic aide Andrei Belousov told reporters on Friday. Neither Innogy IGY.DE nor parent RWE RWEG.DE are likely to take a stake in Germany's largest lender Deutsche Bank DBKGn.DE , Innogy's Chief Executive told Reuters on Friday. Avolon Holdings, part of China's acquisitive HNA Group, is acquiring CIT Group's CIT.N aircraft leasing assets worth $10 billion in a deal that will create the world's third-largest lessor in a rapidly consolidating sector. Dutch insurer Delta Lloyd DLL.AS on Friday rejected an unsolicited 2.4 billion euro ($2.7 billion) takeover bid from larger rival NN Group NV NN.AS as being too low but said mergers between Dutch insurers could make sense. Activist shareholder Cevian is considering taking a 10 percent stake in German utility E.ON EONGn.DE , German daily Rheinische Post reported on Friday, citing industry sources. Total TOTF.PA has agreed to sell its specialty chemicals arm Atotech for $3.2 billion to private equity firm Carlyle Group (NASDAQ:CG), part of a programme under which the French oil company hopes to divest $10 billion worth of non-core assets by 2017. Banca Generali (MI:GASI) BGN.MI has no acquisition plans on the table, the Italian asset manager's managing director said on Friday, amid speculation the group could be interested in buying online broker FinecoBank FBK.MI . French nuclear group Areva AREVA.PA is in talks with Kazakhstan over a potential investment in the company, although it is too early to say whether a deal can be reached, a spokeswoman for the French industry ministry said on Friday. Verizon Communications (NYSE:VZ) VZ.N is pressing for a $1 billion discount off its pending $4.8 billion agreement to buy Yahoo YHOO.O , the New York Post reported, citing sources.

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