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Deals of the day-Mergers and acquisitions
March 29, 2017 / 10:05 AM / 6 months ago

Deals of the day-Mergers and acquisitions

(Adds Busch and Grupo Mexico )

March 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Exxon Mobil has agreed to sell its operated upstream business in Norway to private equity firm HitecVision and oil company Point Resources for an undisclosed sum, it said.

** Greece has agreed that its main power utility, Public Power Corp (PPC), will sell some coal-fired plants as part of bailout reforms, two sources close to the talks said.

** French drug maker Sanofi has hired advisers for the sale of its European generic drug business, several sources familiar with matter told Reuters, ahead of an auction process which is expected to start after the European summer.

** Chinese property developer and hotel operator Goldin Properties Holdings Ltd said Chairman Pan Sutong had offered about $1.5 billion to buy its outstanding shares and delist the company.

** Japan’s government named six investment banks to serve as underwriters for the sale of additional shares in Japan Post Holdings Co, which is partly aimed at funding the rebuilding of areas hit by the 2011 earthquake and tsunami.

** Brokerage Cowen Group Inc’s shares surged 19 percent on Wednesday after Chinese conglomerate CEFC China said it agreed to acquire a stake of about 20 percent in the U.S. company for $100 million.

** An attempted merger between the German and British stock exchanges was struck down by European regulators, formally ending a deal that unravelled in the wake of Britain’s vote to leave the European Union.

** Russia’s Sberbank hopes to complete the sale of its Ukrainian subsidiary in May or June, a source with the bank said.

** The chairman of Indian miner Vedanta Resources said he had no plans to buy assets in South Africa from Anglo American or push for a board seat after announcing plans to buy a 13 percent stake in the mining giant.

** Finland’s Amer Sports, which makes Wilson tennis rackets and Salomon skis, will buy U.S. ski maker Armada for $4.1 million, the company said.

** Australian retail group Premier Investments Ltd said it had purchased a 10.8 percent stake in department store owner Myer Holdings Ltd, but added it had no plans to make a takeover offer at this time.

** U.S. private equity group TPG Capital is weighing whether to make a takeover offer for Australia’s Fairfax Media Ltd as the target proceeds with plans to spin off its real estate classified advertising arm, The Australian Financial Review reported.

** Euronet Worldwide Inc ramped up its fight against China’s Ant Financial Services Group in trying to acquire MoneyGram International Inc, urging the U.S. government to closely scrutinize the rival Chinese bid saying it raises “significant national security risks.”

** U.S. private equity firm KKR & Co LP is preparing a potential consortium bid for Australia’s Quintis Ltd backed by the sandalwood plantation group’s managing director, a source said.

** Family-owned German vacuum pump maker Busch hopes its increased offer for rival Pfeiffer Vacuum will allow it to start constructive talks with management after a previous attempt was rebuffed. (Compiled by Laharee Chatterjee in Bengaluru)

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