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Deals of the day-Mergers and acquisitions
April 21, 2017 / 10:34 AM / 8 months ago

Deals of the day-Mergers and acquisitions

(Adds Thessaloniki Port, Konzum, DHL Group, ABB Ltd, Pioneer Food and KKR & Co; Updates Atlantia)

April 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Metals group Liberty House Group has agreed to buy the Georgetown Steelworks plant from Arcelor Mittal in its first major U.S. acquisition, the companies said.

** The British government extended the period within which competition regulators must report on Rupert Murdoch’s $14.5 billion bid to take over pay-TV group Sky by one month due to the country’s national election on June 8.

** Japanese electronics conglomerate Panasonic Corp has raised its offer to buy out subsidiary PanaHome Corp , in an effort to satisfy the housebuilder’s shareholders, who were unhappy with the original bid.

** AGIC Capital, which has a $1 billion Asian-European private equity fund, agreed to buy Central European medical laser company Fotona from U.S. investment firm The Gores Group, targeting growth in China and other Asian countries.

** Top shareholders in Singapore telecoms company M1 Ltd have approached potential buyers China Mobile and global private equity firms, among others, to sell their combined majority stake in the firm, sources familiar with the matter said.

** Neptune Oil & Gas moved closer to the $2 billion purchase of a majority stake in the exploration and production arm of French utility Engie after agreeing that Chinese sovereign fund CIC could increase its minority stake in the target firm, sources said.

** Italian toll-road operator Atlantia is interested in acquiring Spain’s Abertis, but only if a deal can be agreed, and does not see a need to sell any of Abertis’s assets to fund it, Atlantia’s chief executive said.

** Italy’s third-largest bank Banco BPM has selected four bidders for the sale of a bad loan portfolio which it expects to conclude in four to five weeks, the head of the lender’s strategic committee said.

** Intelsat SA is planning to extend the deadline for investors to swap their bonds in the company for several weeks, seeking to keep its merger with U.S. satellite technology peer OneWeb Ltd alive, according to people familiar with the matter.

** Indian healthcare services provider Narayana Hrudayalaya Ltd said it would buy NewRise Healthcare Private Ltd from Panacea Biotec Ltd for an enterprise value of 1.80 billion rupees ($27.87 million).

** British retailer Sports Direct has entered the U.S. market by buying two loss-making chains for $101 million, drawing criticism from analysts who said the firm should keep its focus at home where it has struggled.

** Israel’s Delek Group said its offer to take over North Sea oil producer Ithaca Energy, has been accepted by Ithaca’s shareholders.

** Canadian engineering and construction company SNC-Lavalin Group Inc on Thursday said it would buy British engineering and consultancy firm WS Atkins Plc for C$3.6 billion ($2.67 billion), firming up an indicative offer it made earlier this month.

** Japanese government-backed fund, the Innovation Network Corporation of Japan (INCJ), can invest in Toshiba Corp’s chip unit if it makes sense, the country’s industry and trade minister said on Thursday.

** Kindred Healthcare Inc is exploring a sale, according to people familiar with the matter, as the largest home health, hospice and community care provider in the United States faces pressure to reduce its exposure to Medicare patients.

** Australia’s DUET Group said it had been advised by Cheung Kong Infrastructure Holdings (CKI) that the Australian government has approved the Hong Kong company’s $5.5 billion consortium-led takeover offer.

** South Korea’s Lotte Group plans to combine parts of four units including flagship retailer Lotte Shopping Co Ltd into a holding company to resolve cross-shareholding issues, online website Money Today reported.

** Chinese steelmaker Chongqing Iron & Steel Co warned that its plans to sell off debt-ridden iron and steel assets faced “uncertainties” and might not go ahead, saying trading in its shares would remain suspended.

** Greece received three improved binding financial bids for a majority stake in Thessaloniki Port, its second-largest, the country’s privatisation agency (HRADF) said.

** A unit of Hungarian holding company Konzum, partly-owned by Lorinc Meszaros, an ally of Prime Minister Viktor Orban, has acquired a 5.9 percent stake in local bank FHB , the companies said.

** Deutsche Post DHL Group is seeking a buyer for its British outsourcing subsidiary Williams Lea, a person familiar with the matter said, adding that the process was at an early stage.

** European engineering groups ABB Ltd and Schneider Electric SE are competing for General Electric Co’s industrial solutions division, which could fetch as much as $3 billion, according to people familiar with the matter.

** South Africa’s Pioneer Food Group said talks on a large potential deal with “a multinational organisation” had collapsed due to the cut in the country’s credit rating to junk status as a result of the deteriorating economic situation.

** U.S. private equity firm KKR & Co LP and Japanese government-backed fund, Innovation Network Corp of Japan (INCJ), will submit a joint offer for Toshiba Corp’s memory chip unit, the Nikkei business daily reported. (Compiled by Ahmed Farhatha and Divya Grover in Bengaluru)

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