March 2, 2017 / 11:03 AM / in 9 months

Deals of the day-Mergers and acquisitions

(Adds Generali, Toshiba Corp, PSA)

March 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Kazakhstan’s two biggest lenders have provisionally agreed a deal for Halyk Bank, to take over its bigger rival Kazkommertsbank (KKB), they said.

** German engineering company Siemens and Spain’s Gamesa are set to win unconditional EU antitrust approval to create the world’s biggest wind turbine maker, two people familiar with the matter said.

** Swedish home appliance maker Electrolux said it was buying U.S. firm Grindmaster-Cecilware, a maker of coffee machines and beverage dispensers, for $108 million in cash.

** German auto parts and tyre maker Continental has no plans at present for any larger takeover deal but said it could shoulder an acquisition worth over 2 billion euros ($2.11 billion).

** Aurubis AG, Europe’s biggest copper smelter, plans a new corporate strategy involving expansion into production of other non-ferrous metals alongside its traditional copper business, new CEO Juergen Schachler said.

** Spain’s carmaking plants were “well-placed” in the takeover talks between PSA Group and General Motors’ European arm, Economy Minister Luis de Guindos said after speaking to a senior executive at PSA.

** Park Square Capital and SMBC are setting up a new euro 3 billion direct lending fund which will be a joint venture between the two firms, banking sources said.

** German consumer products group Henkel has made a binding offer to buy Darex Packaging Technologies from GCP Applied Technologies for $1.05 billion.

** BPER Banca said it had agreed to buy small lender Nuova Carife for 1 euro, helping Italy solve one of its banking headaches by selling the last one of four small lenders it rescued from bankruptcy in November 2015.

** Italy’s biggest insurer Generali has hired BNP Paribas to sell its Dutch business as part of a plan to cut costs in weaker markets and boost profits, sources told Reuters.

** Japanese group Toshiba Corp is preparing a potential $2 billion divestment of smart meter group Landis+Gyr, hoping to rake in capital after a major writedown on its U.S. nuclear unit last month, three people familiar with the matter said.

** PSA Group and General Motors hope to announce the French carmaker’s acquisition of Opel within days after narrowing differences on pension liabilities at GM’s European division and other issues, sources told Reuters. (Compiled by Sruthi Shankar and Laharee Chatterjee in Bengaluru)

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