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Deals of the day-Mergers and acquisitions
March 22, 2017 / 10:32 AM / 6 months ago

Deals of the day-Mergers and acquisitions

(Adds Amazon, Massimo Zanetti, Generali, FMO, Advent International)

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

** Japanese trading company Mitsubishi Corp 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, 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 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 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 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 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.

** Riyadh-based ACWA Power said it expects the first of four power generation companies owned by Saudi Electricity Co 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 expressed frustration at the slow progress towards a planned merger with Immofinanz, calling on the other side to complete a precondition for the deal this year or risk its collapse.

** China’s Sinopec, will pay almost $1 billion for a 75 percent stake in Chevron Corp’s 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, on Friday, the offer deadline, the port’s top executive said.

** Canadian oilfield services provider Trican Well Service Ltd said it would buy smaller rival Canyon Services Group Inc 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) 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, 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, weeks after proxy advisory firm ISS recommended unitholders to vote against the C$1.7 billion ($1.3 billion) deal.

** Amazon.com Inc has agreed in principle to buy 100 percent of Middle Eastern online retailer Souq.com from its shareholders, sources familiar with the deal told Reuters.

** Private equity firm Warburg Pincus is paying 300 million Swiss francs ($300 million) for a stake in banking software and services provider Avaloq in what the group described as a first step towards a potential public listing.

** Brazil’s antitrust watchdog Cade approved BM&FBovespa SA’s takeover of rival Cetip SA Mercados Organizados, and will not require any antitrust measure beyond those the exchange and clearinghouse proposed for themselves.

** Italian coffee roaster Massimo Zanetti aims to boost its presence in the Brazilian market by acquiring a local coffee brand, Chief Operating Officer Pascal Heritier told Reuters.

** FMO, the Dutch development bank, has sold its remaining shares in Georgia’s TBC Bank, the country’s largest by loans and deposits, TBC said.

** U.S. private equity firm Advent International Corp has withdrawn from a bidding process to acquire Pfizer Inc’s Brazilian generic drugs joint venture, leaving rival Bain Capital LP as the only contender for the company, two people with direct knowledge of the matter said.

** Generali has asked advisory bank Rothschild to find a new owner for its subsidiaries in Colombia, Ecuador and Panama, sources told Reuters, as Italy’s biggest insurer seeks to leave markets where it lacks scale. (Compiled by Divya Grover and Aishwarya Venugopal in Bengaluru)

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