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Deals of the day-Mergers and acquisitions

Published 2020-07-08, 09:42 a/m
Updated 2020-07-08, 04:00 p/m
© Reuters.

(Adds Saudi Arabia, EssilorLuxottica)

July 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** EU antitrust authorities have extended their investigation into Ray-Ban maker EssilorLuxottica's ESLX.PA 7.2-billion-euro ($8.1 billion) bid for Dutch opticians group GrandVision by a week to Aug. 20. Saudi Arabia said it had completed the first batch of its flour milling sector privatisation, according to a statement by the state grain buyer and privatisation centre. Private equity firm KKR & Co Inc KKR.N has agreed to buy retirement and life insurance company Global Atlantic Financial Group, the companies said. French TGV high-speed train maker Alstom ALSO.PA said its discussions with the European Commission over the planned bid for Bombardier Inc 's BBDb.TO rail division were going smoothly. Japanese trading house Itochu Corp 8001.T announced a 588 billion yen ($5.5 billion) tender offer for the rest of convenience store FamilyMart Co 8028.T , seeking full control of a business facing slow growth and tough competition. Scandal-hit Steinhoff International SNHJ.J agreed to sell its stake in the struggling French unit of home furnishings chain Conforama to Mobilux Sàrl, the parent company of furniture retailer BUT, for a nominal amount, the company said. Russia's Otkritie Bank sold around 3% of Russian gold and silver miner Polymetal POLYP.L via an accelerated book building (ABB) at a discount of around 3% to the market price, two sources close to the deal told Reuters. U.S. Insurer Allstate Corp (NYSE:ALL) ALL.N said it will buy National General Holdings Corp NGHC.O for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and reduced claims. British private equity investment firm Novator Partners has bought a majority stake in Colombia's Avantel and launched a restructuring of the business, the South American telecommunications company said. Property data and analytics company CoreLogic CLGX.N rejected an unsolicited $7 billion takeover offer from two investment firms, saying it expected to earn more this year and would buy back more of its stock.

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