Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Deals of the day-Mergers and acquisitions

Published 2017-03-28, 04:00 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Milestone Apartments, DaVita, CVC, HeidelbergCement (DE:HEIG) ; Updates Tesla)

March 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** China's Tencent Holdings Ltd 0700.HK has bought a 5 percent stake in U.S. electric car maker Tesla Inc TSLA.O for $1.78 billion, the latest investment by a Chinese internet company in the potentially lucrative market for self-driving vehicles and related services. Acquisitive Chinese conglomerate HNA Group is in talks to buy a controlling stake in the owner of the publisher of Forbes magazine, two sources with knowledge of the matter told Reuters. Telecom Italia TLIT.MI is working with Rothschild to help it to find a partner to fund part of its broadband business in Italy, three sources close to the matter said. Tesco TSCO.L , Britain's biggest retailer, remains committed to its agreed 3.7 billion pound ($4.7 billion) takeover of wholesaler Booker BOK.L despite opposition from some big shareholders, its boss said. VTB Capital, the investment banking arm of Russia's second-largest bank VTB VTBR.MM , has moved into the agricultural commodities business, with a focus on the Black Sea and Central Europe, its head of global commodities Atanas Djumaliev told Reuters. German energy group RWE RWEG.DE has not concrete plans for M&A activity at the moment and would have a very disciplined and selective approach should any suitable assets become available, finance chief Markus Krebber. Taiwan's Compal Electronics, a supplier to Chinese technology conglomerate LeEco, has bought a 700 million yuan ($102 million) stake in a subsidiary of LeEco's Leshi Internet Information and Technology Corp 300104.SZ , the companies said. Barrick Gold Corp ABX.TO and Goldcorp Inc G.TO, the world's No. 1 and No. 3 gold miners by value, have agreed to team up to potentially develop gold projects in northern Chile, Goldcorp said, as the industry starts to put money into growth again. Denmark's KIRKBI A/S, the family holding company behind toy maker Lego, wants to expand its renewable energy investments, Chief Executive Soren Thorup Sorensen told Reuters. Barclays BARC.L is in exclusive talks to sell its stake in Barclays Bank of Zimbabwe BARC.ZI to Malawi's First Merchant Bank FMB.MV , First Merchant Bank said in a statement on its website. Aviva Plc AV.L is exploring a sale of its Friends Provident International unit, which offers life assurance and investment products, in a deal that could raise between $500 million and $700 million, a source with direct knowledge of the matter said. Bain Capital Private Equity has decided not to proceed with the acquisition of Belgian packaging company Resilux RESI.BR due to an anti-trust ruling in Germany, the investment company said. Amazon.com AMZN.O has agreed to buy Middle East online retailer Souq.com, thwarting a last minute bid by Dubai billionaire Mohamed Alabbar's Emaar Malls EMAA.DU . Japanese beer maker Asahi Group Holdings Ltd 2502.T said it will take on 7.4 billion euros ($8 billion) in bank loans to finance its acquisition of European assets from Anheuser-Busch InBev SAC NV ABI.BR . China Southern Airlines Co Ltd 1055.HK600029.SS said it will sell a small stake to American Airlines Group Inc AAL.O in a $200 million deal that will give the carriers better access to the world's two largest travel markets. British housebuilder Redrow RDW.L said it did not intend to make an offer for rival Bovis BVS.L just over two weeks after its approach was rejected as too low, leaving one potential bidder for the ailing firm. Tokyo Electric Power Company Holdings (Tepco) 9501.T and Chubu Electric Power Co 9502.T said they had signed an agreement to integrate their fossil fuel power plants under their JERA Co joint venture. Akzo Nobel AKZO.AS , the Dutch paints and coatings maker trying to avoid being taken over by larger U.S. rival PPG Industries (NYSE:PPG) PPG.N , said it would detail its strategy to remain independent on April 19. The new head of Spain's Banco Popular POP.MC , Emilio Saracho, is in talks to sell the lender's property portfolio and also a stake to Libra Group, online newspaper El Confidencial reported. Schlumberger SLB.N , the world's top oil services provider, has bought a stake in upstart rig operator Borr Drilling BORR.NFF . Strauss Coffee has agreed to buy back a 25.1 percent stake in the company held by buyout firm TPG Capital Management for 257 million euros ($279 million), its parent company Strauss Group said. Australian sandalwood plantation group Quintis Ltd QIN.AX said its managing director has resigned and will consider making a takeover offer for the company together with an unnamed international group. Brazilian miner Vale SA VALE5.SA said on Monday it has wrapped up the sale of a stake in Mozambique's Moatize coal project to Japan's Mitsui & Co Ltd 8031.T and received an initial payment of $733 million, the company said in a security filing. Investment management firm Red Mountain Capital Partners LLC said in a letter on Monday that it is pushing apparel and accessories maker Deckers Outdoor Corp's DECK.N board to explore a sale of the company. Russia's biggest bank Sberbank SBER.MM is selling its subsidiary in Ukraine to a consortium of investors, which include Norvik Bank (Latvia) and a Belarussian private company, Sberbank said in a statement on Monday. Olive Garden owner Darden Restaurants Inc (NYSE:DRI) DRI.N said on Monday it would buy Cheddar's Scratch Kitchen for $780 million in an all-cash transaction. Bank holding company Home BancShares Inc HOMB.O said it would acquire regional lender Stonegate Bank SGBK.O in a cash-and-stock deal valued at about $778.4 million. A joint bid by German cement producers HeidelbergCement HEIG.DE and Schwenk for Cemex's CMXCPO.MX Croatian business faces a European Union veto, two sources said. CVC CVC.UL is selling German metering and energy management group Ista, which could be worth up to 4 billion euros ($4.3 billion), sources told Reuters. Kidney dialysis company DaVita, Inc DVA.N has won antitrust approval to buy rival Renal Ventures Management LLC on condition that it sell five clinics, the Federal Trade Commission said. Milestone Apartments Real Estate Investment Trust MST_u.TO said that its unitholders approved the company's takeover by U.S. private investment firm Starwood Capital Group for about $1.3 billion.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

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.