March 14, 2019 / 11:31 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds Audi, Casino)

March 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** Volkswagen’s premium brand Audi is reviewing whether to raise its stake in its Chinese joint venture partner companies, the premium brand’s China chief Alexander Seitz said.

** French retailer Casino, battling investor concerns over its high debt, vowed to boost profits and cash flow in its core French market and sell off more assets under a three-year strategy plan.

** E.ON’s planned acquisition of the retail and network activities of RWE unit Innogy could take longer should Britain leave the European Union without a deal, RWE’s chief executive officer said.

** Australian property developer Villa World Ltd said it had received a A$279.1 million ($197.02 million) conditional takeover offer from U.S.-based AVID Property Group Australia Pty Ltd.

** Russia’s state bank VTB has reached an agreement to transfer its 25 percent stake in Russian-Venezuelan lender Evrofinance Mosnarbank, that is under U.S. sanctions, to the Russian state for free, VTB Chief Executive Officer Andrei Kostin said.

** Russian billionaire Roman Abramovich’s company Crispian has no plans at the moment to sell a further stake in mining giant Norilsk Nickel, Interfax news agency cited Crispian co-owner Vladimir Abramov as saying.

** Charter Court Financial and OneSavings are set to create one of Britain’s biggest specialist lenders in a merger that will bolster their defences in the face of uncertainty brought on by Brexit.

** Equitrans Midstream Corp said its unit will buy a stake in two pipeline systems in Ohio and West Virginia from a fund managed by Morgan Stanley, in a deal worth $1.03 billion. (Compiled by Aakash Jagadeesh Babu in Bengaluru)

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