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Deals of the day- Mergers and acquisitions

Published 2016-09-30, 04:05 p/m
© Reuters.  Deals of the day- Mergers and acquisitions
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(Adds Lone Star, Petrobras, Sovcomflot, National Bank, Renault , MediaNews Group, Unlu, Charlemagne Capital , Anthem, National Grid (LON:NG); updates Airbus, Woolworths)

Sept 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Lone Star, Christofferson Robb & Co (CRC) and other specialized investors have presented non-binding offers to buy a platform that will manage part of Monte dei Paschi di Siena's BMPS.MI bad loans, three sources close to the matter said. The Tuscan bank is selling its 27.7 billion euro ($31 billion) portfolio of loans to insolvent borrowers. Australian supermarket giant Woolworths Ltd WOW.AX said it is considering offers to buy its petrol station chain in a deal said to be worth more than $1 billion, extending an asset sell-off as it shores up its core grocery business. Airbus Group AIR.PA said it would merge with its planemaking unit, strip out bureaucracy and simplify its brand, marking a break with its complex corporate roots as it prepares for tougher expected competition. Brazil may let state-led oil company Petrobras PETR4.SA sell stakes in offshore oil blocks, known as transfer of rights areas, to help finance their development, a move that will require a change in the law, an energy ministry official said. South Korea's SK Networks Co Ltd 001740.KS said in a regulatory filing it has agreed on a deal to buy Tongyang Magic, a kitchen appliance maker and water purifier rental firm, for 619 billion won ($563 million). The privatization of a 25 percent stake in Russian state shipping firm Sovcomflot may be equally split between existing and new shares, two sources close to the deal told Reuters. The Russian economy ministry has previously said it wanted to raise 24 billion roubles ($380 million) from the sale of the Sovcomflot stake. Greece's National Bank NBGr.AT has completed the sale of 11 funds managed by its private equity arm to funds managed by Deutsche Bank (DE:DBKGn) Private Equity and Goldman Sachs (NYSE:GS) Asset Management for 288 million euros ($323.37 million), National Bank said. France's AXA AXAF.PA and Germany's Allianz SE ALVG.DE have advanced to the second stage of bidding for a Standard Chartered STAN.L deal that would enable the sale of general insurance products through the bank's Asian branches, people familiar with the matter said. The deal size is seen at around $300 million. Activist hedge fund Elliott Management said it bought 8.1 percent stake in Mentor Graphics Corp MENT.O , calling on the company to increase shareholder value and pursue "strategic opportunities." Renault RENA.PA said it had signed a deal to enter into a new joint venture in Iran that would allow it to strengthen its presence in the country after most trade sanctions were lifted earlier this year.

** MediaNews Group Inc, one of the largest U.S. newspaper companies, said it plans to nominate seven directors to replace the board of Monster Worldwide Inc MWW.N , stepping up a battle against the proposed sale of the online jobs site. Turkish investment bank Unlu & Co aims to complete the acquisition of an Iranian brokerage in the next six months and become the first Turkish financial services firm to operate in Iran since the easing of sanctions, its chairman said. Canadian asset manager Fiera Capital FSZ.TO announced it has bought London-based Charlemagne Capital CHAR.L for 40.7 million pounds ($52.8 million) and said it is in talks with several other targets. Online trading company IG Group Holdings Plc IGG.L said it had agreed to buy news and research portal DailyFX and its associated assets from U.S. retail broker FXCM Inc FXCM.O for $40 million. The judge who will rule on whether the government may stop health insurer Anthem ANTM.N from buying competitor Cigna (NYSE:CI) CI.N said she was considering splitting the trial into phases. Britain's energy regulator Ofgem said it has granted National Grid approval to transfer its gas transportation license to its new subsidiary National Grid Gas Distribution Ltd (NGGD), which is set for sale. = 1,099.9900 won)

($1 = 63.1300 roubles)

($1 = 0.8906 euros)

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