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Deals of the day-Mergers and acquisitions

Stock MarketsMar 22, 2017 09:30
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© Reuters. Deals of the day-Mergers and acquisitions

(Adds Thessaloniki Port, Trican, Diamond Trust Bank, Starwood Capital and Maersk; Updates Akzo, ACWA, Sinopec and CA Immo)

March 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1315 GMT on Wednesday:

** Japanese trading company Mitsubishi Corp 8058.T may sell stakes in Australia thermal coal mines as it presses on with a switch to core assets such as coking coal after slumping to its first-ever annual loss last year, a spokesman said. Felda Global Ventures Holdings Bhd FGVH.KL , a Malaysian palm plantation operator, is in talks with several companies, including Chinese firms, to establish partnerships to expand its distribution networks and finance facilities. Indian e-commerce marketplace Snapdeal denied it was in talks for a potential sale, after newspaper Mint reported that the company was in discussions with domestic rivals for a potential sale. Korea Electric Power Corp 015760.KS is in talks to buy a stake in the Toshiba-Engie British nuclear joint venture NuGen, chief executive of the South Korean utility said. Tokyo Electric Power Co 9501.T plans to seek the cooperation of domestic nuclear operators to improve the safety of its Kashiwazaki-Kariwa nuclear plant in an attempt to restart it and help meet the costs of the Fukushima nuclear disaster. Lactalis said it extended a buyout offer on Parmalat PLT.MI for a further five days, after the French dairy group failed to reach a 90 percent stake it needed in the Italian food company to request its delisting. Norway's Statkraft STATKF.UL will in June begin a formal process to sell its stakes in the Sheringham Shoal and Dudgeon wind farms offshore Britain, with a goal of completing the transactions by the end of the year, the company said in a statement. Dutch paints and coatings maker Akzo Nobel AKZO.AS rejected an improved 22.4 billion euro ($24.1 billion) takeover proposal from PPG Industries (NYSE:PPG) PPG.N , but faced investor pressure to start talks with its U.S. rival. Riyadh-based ACWA Power said it expects the first of four power generation companies owned by Saudi Electricity Co 5110.SE will be offered to the market by the year-end, as the kingdom presses ahead with its overhaul of the state sector. Austrian property group CA Immo CAIV.VI expressed frustration at the slow progress towards a planned merger with Immofinanz IMFI.VI , calling on the other side to complete a precondition for the deal this year or risk its collapse. China's Sinopec 600028.SS , 0386.HK will pay almost $1 billion for a 75 percent stake in Chevron (NYSE:CVX) Corp's CVX.N South African assets and its subsidiary in Botswana to secure its first major refinery in Africa, the companies announced. Four foreign investors are expected to bid for a majority stake in Greece's Thessaloniki Port OLTr.AT , on Friday, the offer deadline, the port's top executive said. Canadian oilfield services provider Trican Well Service Ltd TCW.TO said it would buy smaller rival Canyon Services Group Inc FRC.TO in a C$637 million deal, as it seeks to strengthen pricing power amid a revival in shale drilling in North America. Kenya's Diamond Trust Bank (DTB) DTK.NR will focus on integrating Habib Bank Kenya and will only start looking to make further acquisitions from next year onwards, its chief executive told Reuters. Maersk Line, the world's biggest container shipping firm and part of Danish conglomerate A.P. Moller-Maersk MAERSKb.CO , TCWhas offered concessions to EU antitrust regulators in an attempt to get approval for the takeover of German rival Hamburg Sud. Investment firm Starwood Capital Group slightly raised its offer to buy Canada's Milestone Apartments Real Estate Investment Trust MST_u.TO , weeks after proxy advisory firm ISS recommended unitholders to vote against the C$1.7 billion ($1.3 billion) deal.

Deals of the day-Mergers and acquisitions

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