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Deals of the day-Mergers and acquisitions

Published 2017-05-11, 04:00 p/m
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds CPPIB, Home Capital, Rosneft, Itaú Unibanco, Omnia Holdings, Enbridge and PGE; Updates Engie)

May 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Exxon Mobil Corp (NYSE:XOM) XOM.N said it has reached an agreement to buy a refining and petrochemical plant owned by Jurong Aromatics (JAC) in Singapore that will boost its output and meet demand in Asia. The Canada Pension Plan Investment Board (CPPIB), the country's biggest public pension fund, is considering a bid for Dominion Diamond Corp DDC.TO DDC.N and is studying the miner's books, people familiar with the process told Reuters. Home Capital Group HCG.TO , Canada's biggest non-bank lender, is in talks to divest about C$2 billion in assets to help pay down a high-interest loan and delay a potential sale of the entire company, according to people familiar with the situation. Russian state oil firm Rosneft ROSN.MM is struggling to close its $12.9 billion acquisition of India's Essar Oil Ltd because six of Essar's Indian creditors have yet to approve the deal, sources close to the talks said. The Australian state of New South Wales said it has sold power grid Endeavour Energy to a consortium led by Macquarie Group Ltd MQG.AX for A$7.62 billion ($5.61 billion), relegating foreign bidders to a minority stake. French engineering services group Assystem ASY.PA has made an offer for a 5 percent stake in the new Areva NP reactor unit being formed from the broader restructuring of Areva AREVA.PA . Itaú Unibanco Holding SA ITUB4.SA said it is still in talks to acquire a stake in Brazilian broker XP Investimentos SA, adding that no definitive agreement has been signed. South African fertiliser and mining explosives maker Omnia Holdings OMNJ.J said on Thursday it had agreed to acquire an oil products and lubricants supplier as part of its strategy to expand its chemical business. Enbridge Inc ENB.TO , ENB.N , Canada's largest pipeline company, said it may acquire more assets and forecast a rise in adjusted earnings before interest and taxes this year following its purchase of Spectra Energy Corp (F:SEP). Poland's biggest power group PGE PGE.WA said it has signed a conditional agreement to buy EDF's EDF.PA Polish power and heating assets. Generali GASI.MI is looking to buy portfolio management teams to expand its asset management operations and its fee-based business after reporting a 9 percent fall in first-quarter profit. Engie ENGIE.PA said it had received a binding offer from Neptune Energy for its 70 percent stake in its oil and gas exploration unit based on a value of 4.7 billion euros ($5.1 billion) for 100 percent of the unit. TPI Triunfo Participações & Investimentos SA TPIS3.SA and its creditors are discussing a restructuring plan allowing the indebted Brazilian infrastructure company to retain cash from potential asset sales while it downsizes further, three people familiar with the situation said. Fireproof industrial materials maker RHI RHIV.VI , which is taking over Brazilian rival Magnesita MAGG3.SA , said it plans to keep the dividend payout at around $33 million in 2017 and 2018, cutting the amount per share for the enlarged group. Britain's planned departure from the European Union opens the door for a UK-Swiss deal covering financial services, the head of one of Switzerland's biggest private banks said. Liberty Global's LBTYA.O John Malone says he is open to doing separate deals with Vodafone VOD.L and British broadcaster ITV ITV.L , but has yet to make the valuations work. Founders of Indian online marketplace Snapdeal and one of its early investors, Nexus, have reached an agreement with SoftBank Group 9984.T that would allow the Japanese firm to move ahead with its plan to sell Snapdeal to bigger rival Flipkart, ET Now reported, citing sources. T-Mobile US TMUS.O will very likely be part of merger talks in the United States and its strong position there should give it time to find the best fit, its parent Deutsche Telekom DTEGn.DE said. Slot machine maker Sega Sammy Holdings Inc 6460.T said it would seek a majority stake in any Japanese casino project, one of a few domestic firms to detail plans for a sector already drawing intense interest from global gambling companies. Japan's Tokyo Electric Power Co 9501.T said it will seek partners for its nuclear business as part of a recovery plan after the Fukushima disaster of six years ago brought the utility to its knees and put it under state control. Saudi Arabia's Al Borg Medical Laboratories, one of the largest private medical laboratory chains in the Gulf, has agreed to buy the lab business of Anglo Arabian Healthcare, majority owned by Waha Capital WAHA.AD , sources told Reuters. The head of German sportswear company Adidas ADSGn.DE rejected calls from some shareholders to sell the loss-making Reebok brand, saying he was confident that a restructuring plan would restore it to profitability. Verizon Communications Inc (NYSE:VZ) VZ.N snapped up wireless spectrum holder Straight Path Communications Inc STRP.A in a $3.1 billion deal, trumping rival AT&T's T.N offer and potentially gaining an advantage in a race to build 5G networks. Activist investor Starboard Value LP reported a 5.7 percent stake in Parexel International Corp PRXL.O , calling the U.S. contract research firm's shares "undervalued" and that it represented an attractive investment opportunity. Wilmar International Ltd WLIL.SI , the world's largest palm oil processor, posted a 51 percent rise in quarterly profit and said it was carrying out a restructuring that could possibly lead to a separate listing for its Chinese operations. "We want to acquire more property this year and going forward want to double what we have currently," TLG Immobilien TLGG.DE executives told Reuters. The European Commission has approved Slovenia's proposal to sell 50 percent of its largest bank Nova Ljubljanska Banka (NLB) this year rather than 75 percent as planned earlier, the Finance Ministry said.

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