June 2, 2017 / 10:11 AM / 2 months ago

Deals of the day-Mergers and acquisitions

5 Min Read

(Adds Kazkommertsbank, Faerch Plast, Conagra Brands, Shandong Gold Mining, Linde, Praxair, Akzo Nobel, Blackstone and Alibaba; updates Rosneft)

June 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Chinese investment group Fortune Fountain Capital said it signed an agreement to buy a controlling stake in French crystal maker Baccarat from U.S. investment firms Starwood Capital Group and L Catterton.

** A $13 billion takeover by Russian oil major Rosneft of India's Essar Oil should close this month after delays caused by debts to Indian lenders, the head of State Bank of India (SBI) said, adding she had "more or less" approved the deal.

** Airport operator GVK Power and Infrastructure said it will sell 10 percent of its residual stake in Bangalore International Airport Limited (BIAL) in southern India to Fairfax India Holdings Corp for 12.90 billion rupees ($200 million).

** South African telecoms operator Vodacom Group said its second biggest shareholder, Public Investment Corporation (PIC), will vote in favour of its 34.6 billion rand ($2.7 billion) takeover of Kenya's Safaricom .

** Italy's Enel has mandated Sberbank to arrange the sale of its Reftinskaya coal power plant in Russia and hopes to do the deal in 2017, Enel Chief Executive Francesco Starace told Reuters.

** Swedish engineering group Sandvik said it was selling its process systems business to FAM AB for 5 billion Swedish crowns ($576 million), sending shares higher.

** Barclays announced the sale of its Zimbabwe bank to Malawi-listed First Merchant Bank as the British lender continues its exit from Africa.

** Metro Bank Plc said it bought a mortgage portfolio from a company owned by U.S. private equity firm Cerberus Capital Management LP for 596.7 million pounds ($768.2 million), augmenting its loan book with primarily buy-to-let mortgages.

** French crystal maker Baccarat said that Chinese investment group Fortune Fountain Capital has signed a commitment to acquire an 88.8 percent stake in the company from U.S investment firms Starwood Capital Group and L Catterton.

** Brazil's state-run utility Companhia Energética de Minas Gerais is trying to sell assets worth 6.5 billion reais ($2 billion), the company said in a securities filing on Thursday.

** U.S. oil and gas producer Apache Corp is selling Canadian light oil assets to Canada's Cardinal Energy Ltd to focus on high-growth areas like the Permian basin shale play, an Apache spokesman said on Thursday.

** The planned takeover of Kazakhstan's Kazkommertsbank by rival Halyk Bank, moved a step closer as the two lenders agreed on some key terms.

** Swedish buyout firm EQT said it would sell Danish packaging group Faerch Plast to U.S. private equity firm Advent International, confirming reports in Danish media earlier on Friday.

** Reddi-wip whipped cream owner Conagra Brands Inc has concluded talks to acquire Pinnacle Foods Inc, the maker of packaged foods such as Vlasic pickles, after failing to agree on a price, a person familiar with the matter said.

** Shandong Gold Mining Co Ltd plans to apply for loans worth up to $1.26 billion via its unit to fund the acquisition of a stake in Barrick Gold Corp's mine in Argentina, the Chinese precious metal producer said.

** German industrial gases company Linde turned its attention to winning over investors to its planned $75 billion merger with U.S. peer Praxair, a task that Chairman Wolfgang Reitzle said was not straightforward.

** Akzo Nobel, the Dutch paint maker that rejected a 26.3 billion-euro ($29.6 billion) takeover proposal from U.S. rival PPG Industries, has sent PPG a letter shortly after its suitor walked away, detailing its objections to doing a deal.

** Private equity group Blackstone has agreed to sell European warehouse firm Logicor to China Investment Corporation (CIC) for 12.25 billion euros ($13.8 billion), cementing China's position as a player in European private equity exits.

** European private equity firm Investindustrial has invited the investment vehicle of Alibaba's founder Jack Ma to submit a joint bid of more than 800 million euros ($900 million) for L'Oreal's The Body Shop, sources familiar with the matter said, just days before a deadline for final bids. (Compiled by Akankshita Mukhopadhyay and John Benny in Bengaluru)

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