May 4, 2017 / 10:00 AM / 7 months ago

Deals of the day-Mergers and acquisitions

(Adds Toshiba, First Horizon National, TransCanada, UMW Oil & Gas Corp Bhd, Sentio Healthcare Properties, Great Plains Energy, ORIX Corp, Canadian Imperial Bank of Commerce)

May 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Great Plains Energy Inc, the owner of regulated power utility Kansas City Power & Light, and Westar Energy Inc said they will hold talks aimed at revising their planned $12.2 billion tie-up to address regulatory concerns.

** Japan’s ORIX Corp will buy a 22.1 percent stake in Israeli geothermal energy producer Ormat Technologies Inc for $627 million from a group led by the FIMI private equity fund, the companies said.

** Canadian Imperial Bank of Commerce increased the cash element of its offer for Chicago-based PrivateBancorp Inc in a final $4.9 billion bid to push the deal through ahead of a May 12 shareholder vote.

** Toshiba has turned down pre-emptive bids for its Swiss-based smart meter group Landis+Gyr, hoping for a higher price at auction, for which bankers have begun preparing debt packages of around $1 billion, people familiar with the matter said.

** First Horizon National Corp said it would buy fellow regional bank Capital Bank Financial Corp for $2.2 billion to boost its presence in the fast-growing U.S. southeast market.

** TransCanada Corp, said it would sell its remaining 49.3 percent interest in Iroquois Gas Transmission System LP and an 11.8 percent stake in Portland Natural Gas Transmission System (PNGTS) for $765 million.

** Malaysian offshore drilling services firm UMW Oil & Gas Corp Bhd (UMW-OG) scrapped plans to acquire offshore support vessel provider Icon Offshore Bhd, citing capital constraints and uncertainties in the industry.

** Kayne Anderson Capital Advisors LP’s real estate private equity arm said it would buy healthcare real estate investment trust Sentio Healthcare Properties Inc for $825 million.

** Belgian zinc producer Nyrstar said it was committed to pulling out of mining and added it would make small investments to improve its remaining mines in North America and make them more attractive to a potential buyer.

** Belgium has sold a quarter of the stake it holds in France’s biggest listed bank BNP Paribas for around 2 billion euros ($2.2 billion), a bookrunner for the deal said.

** French gene therapy start-up Vivet Therapeutics said it had raised 37.5 million euros ($41 million) in an initial financing round, with backing from the venture arms of Swiss drugmakers Novartis and Roche.

** Middle-East focused DNO made an unexpected return to the North Sea by announcing an acquisition of privately-held oil firm Origo Exploration with 11 licenses off Norway and Britain.

** Israel’s Delek Group said it has boosted its stake in Ithaca Energy, to 94.2 percent following a tender offer that expired on Wednesday.

** Ant Financial Services Group, an affiliate of online shopping giant Alibaba Group, is close to signing a $3.5-billion syndicated loan to help finance its purchase of U.S. money transfer company MoneyGram International, Thomson Reuters Basis Point reported.

** Saudi Arabia’s central bank governor Ahmed al-Kholifey said that he did not see more bank mergers looming, after Alawwal Bank and Saudi British Bank agreed last week to start talks on a possible merger. (Compiled by Akankshita Mukhopadhyay and John Benny in Bengaluru)

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