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Deals of the day-Mergers and acquisitions
December 8, 2016 / 11:09 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Dupont, Rosneft, Orange)

Dec 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Britain’s National Grid Plc has sold a majority stake in its gas network in a 5.4 billion pound ($7 billion) deal, which could test Prime Minister Theresa May’s pledge to vet infrastructure sales to foreign buyers.

** Italy’s biggest lender UniCredit has agreed to sell its Polish assets for 2.5 billion euros ($2.7 billion), improving its financial standing ahead of share issue at a time of political instability at home.

** U.S. private equity firm Kohlberg Kravis Roberts said it would launch a tender offer for a stake in German market research firm GfK SE and had reached an agreement with GfK’s majority shareholder to jointly develop the company.

** No new bid has emerged for Australia’s largest private land holder S. Kidman & Co, likely paving the way for the country’s richest woman Gina Rinehart to take it over with her A$386.5 million ($289.41 million) offer, a source close to the transaction said.

** AccorHotels has bought an initial 5 percent stake in Singapore’s Banyan Tree Holdings as part of Accor’s current strategy to strengthen its luxury hotels portfolio to give a boost to its earnings.

** Brazil’s federal auditing court (TCU) has suspended temporarily part of state-controlled Petrobras’s asset sale program while the court reviews its divestment procedures for a final ruling.

** AirAsia Bhd has received nearly a dozen bids for its aircraft leasing unit, mostly from Chinese firms, including the leasing arms of China Merchants Bank and Ping An Insurance Group, sources with knowledge of the process told Reuters.

** Australia’s competition regulator said it will not oppose state-owned Chinese chemicals group ChemChina’s proposed $43 billion acquisition of Swiss seeds group Syngenta.

** TUI Group, Europe’s largest travel company, said the sale of its specialist holiday arm Travelopia was progressing and it expected the deal to close in the first half of its financial year.

** Ocado believes the start of operations at its third major UK distribution center, its most high-tech yet, should help it to secure a long-awaited deal with an international partner, the online supermarket group said.

** Telekom Austria Group said it had agreed to buy a controlling stake in Croatian communications and computing group Metronet Telekomunikacije, which last year generated revenues of around 28 million euros ($30.2 million).

** China’s Fujian Grand Chip Investment Fund has dropped its takeover bid for chip equipment maker Aixtron SE after the United States blocked the deal on security grounds, throwing the German company’s future into doubt.

** Dupont Chief Executive Ed Breen said the incoming administration of U.S. President-elect Donald Trump is not likely to have an impact on his company’s planned merger with rival Dow Chemical.

** Italian bank Intesa Sanpaolo is expected to provide a consortium of Qatar and commodities trader Glencore with sizeable funds to help finance their purchase of a stake in Russian oil company Rosneft, two sources familiar with the transaction said.

** France’s Orange would look to make a bid for Vivendi’s pay-TV Canal Plus if it came up for sale, Chief Executive Officer Stephane Richard said. (Compiled by Ahmed Farhatha, Anet Josline Pinto and Diptendu Lahiri in Bengaluru)

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