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Deals of the day-Mergers and acquisitions
January 13, 2017 / 2:58 PM / 8 months ago

Deals of the day-Mergers and acquisitions

(Adds Providence Equity Partners, Linde, Deutsche Boerse, Popolare Emilia Romagna, ADMIE, Alitalia, Alfasigma, Acacia Mining, Arris International and Intrawest Resorts Holdings)

Jan 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Taiwan’s Powertech Technology Inc said it was terminating a share agreement with China’s Tsinghua Unigroup Ltd, unraveling more than $2 billion in deal-making that the state-run Chinese giant had hoped to seal on the island.

** Britain’s Centrica has completed its withdrawal from wind power generation with the sale of a 50 percent stake in the Lincs offshore wind farm to the Green Investment Bank and its offshore wind fund, the companies said.

** Private equity firms Advent and Bain Capital agreed to buy German payment group Concardis from a group of private, savings and cooperative banks, the parties said in a joint statement, not disclosing a purchase price.

** Former Italian prime minister Silvio Berlusconi and his holding company Fininvest have appealed to the European Court of Justice against a decision by the European Central Bank that Fininvest should cut its stake in asset manager Banca Mediolanum .

** State-owned Shenzhen Metro Group’s purchase of the second-biggest holding in China Vanke is likely to pave the way for it to take control of the property giant and put an end to a year-long corporate power struggle.

** U.S. private equity firm KKR & Co LP said on Friday it has agreed to buy Hitachi Ltd’s power tools unit, Hitachi Koki Co Ltd, for about $1.3 billion, its second billion-dollar deal in Japan in three months.

** Oil and gas producer Anadarko Petroleum Corporation said it would sell its Eagleford Shale assets in South Texas for about $2.3 billion to a strategic 50/50 partnership formed by Sanchez Energy Corp and asset manager Blackstone Group LP.

** Megadeals in China helped bring a record $31 billion in venture capital investment into the country in 2016 despite a sluggish global economy and a sharp drop in the number of new deals, a report said.

** Canadian energy infrastructure company AltaGas Ltd said on Thursday it was in talks with a third party over a potential transaction.

** Peruvian builder Grana y Montero’s shares dropped by more than 12 percent after it called its partnership with corruption-plagued Brazilian builder Odebrecht a “mistake” and said it was considering taking legal action.

** Swedish small-cap industrial firm Duroc said on Friday it was buying the far larger International Fibres Group from one of its largest owners by issuing new shares.

** Renova Energia SA has agreed to sell a wind farm project to the local unit of AES Corp for about 650 million reais ($204 million) as part of efforts by the Brazilian renewable power company to repay debt and ease a cash crunch.

** ClubCorp Holdings Inc, one of the largest owners and operators of private golf and country clubs in the United States, said it was exploring strategic alternatives after Reuters reported the company was in a process to sell itself.

** The Brazilian government is drafting a decree to allow 100 percent foreign ownership of local airlines, a Transportation Ministry spokesperson said, a move that could attract investors to a recession-beaten industry.

** U.S.-based private equity firm Providence Equity Partners has bought a 70 percent stake in Hungarian festival company Sziget, the companies said.

** Germany’s financial and markets regulator BaFin said it had begun a formal investigation into suspected insider trading in Linde shares in the run-up to the announcement of merger talks with U.S. rival Praxair in August.

** The German state of Hesse confirmed it will host a summit to review a merger between Deutsche Boerse and the London Stock Exchange next Tuesday.

** Popolare Emilia Romagna is moving closer to a possible acquisition of CariFerrara, one of four small banks that the Bank of Italy has been looking to sell since they were rescued from bankruptcy in November 2015.

** Greece’s four biggest lenders are concerned about the spin-off of the country’s power grid operator ADMIE, a key condition of a bailout agreement between Athens and its official creditors, a banker and a government official said.

** Alitalia and Air Malta said they have decided to terminate talks for the loss-making Italian carrier to take a 49 percent stake in the Maltese airline.

** Alfasigma, Italy’s fifth-largest pharmaceutical group, said it had acquired U.S. medical foods maker Pamlab from Nestle in a move aimed at strengthening its operations in North America.

** Gold miner Acacia Mining Plc said it was in early talks about a possible merger with Canadian gold miner Endeavour Mining Corp.

** Set-top box maker Arris International Plc is in talks to acquire Brocade Communications Systems Inc’s networking equipment business for as much as $1 billion, according to people familiar with the matter.

** Intrawest Resorts Holdings Inc, the owner of some of the most popular ski resorts in North America, is working with investment banks to explore a sale, people familiar with the matter said this week. (Compiled by Laharee Chatterjee and Divya Grover in Bengaluru)

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