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Deals of the day-Mergers and acquisitions
October 4, 2017 / 8:03 PM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds Funcef, Campari, Amicus, Immofinanz, Piaggio Aerospace, A Schulman Inc, PDVSA, JWD Infologistics, Ericsson, Public Power Corp; Updates Bayer)

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

** Brazilian pension fund Funcef decided to exercise tag-along rights and sell its 8.53 percent stake in wood pulpmaker Eldorado Brasil Celulose SA to Netherlands-based Paper Excellence BV, according to a statement.

** Italian beverage group Campari said it agreed to sell its Lemonsoda business to Denmark-based Royal Unibrew A/S in an 80 million euros ($94.05 million) deal.

** Swiss-based drugs company Amicus SRB and Brazilian pharma group EMS SA have both made binding bids for a 93 percent stake in Serbian drugmaker Galenika, Serbia’s Economy Ministry said.

** Austrian real estate company Immofinanz is close to agreeing the sale of its Moscow malls to Russian company Fortgroup, three sources familiar with the talks said.

** Italy is considering blocking the proposed sale of Piaggio Aerospace’s executive-jet business to a Chinese state-backed consortium, amid concerns over the transfer of sensitive technology and potential loss of jobs, a source familiar with the matter said.

** Plastics maker A Schulman Inc is exploring a sale, Wall Street Journal reported, citing people familiar with the matter.

** Thailand’s JWD Infologistics Pcl expects to make acquisitions in Indonesia and Vietnam, part of plans to expand in the region to tap growing demand and boost growth, its chief executive said.

** Telecom equipment maker Ericsson is in talks to merge its Spanish fiber services arm Abentel with a local firm and people familiar with the new CEO’s plans say he is scouting for more merger deals to cut costs and rebuild the group’s profits.

** The state-backed Russian Direct Investment Fund (RDIF) is discussing a possible investment in conglomerate Sistema’s agriculture business, the fund’s chief executive said.

** A unit of Brazil’s competition regulator Cade has said Bayer AG’s proposed takeover of Monsanto Co. could be detrimental to competition and urged conditions for Brazilian approval of the corporate tie-up, a document released on the agency’s website shows.

** Prudential Plc has kicked off the sale of its Vietnam consumer finance unit, which could fetch up to $150 million, as the UK firm sharpens focus on its core insurance business in the Southeast Asian nation, people familiar with the process said.

** CEZ strategy director Pavel Cyrani tells Reuters energy services unit ESCO aims to complete an acquisition in Poland by year-end or early 2018.

** Dubai-based private equity firm Abraaj Group said it made an investment in Pakistan’s top cinema operator, Cinepax, to drive expansion over the next four years.

** Spain’s Gas Natural has approved the sale of its Italian retail business to EDF unit Edison while the company’s Italian distribution network will go to 2i Rete Gas, two sources said.

** The government of Brazilian state Rio Grande do Sul may sell a non-controlling stake in state bank Banco do Estado do Rio Grande do Sul SA, according to a securities filing on Wednesday.

** Telecom Italia kicked off the process to sell its majority stake in broadcasting services group Persidera, valued between 350-400 million euros, a source close to the matter told Reuters.

** Brazilian state-controlled oil company Petróleo Brasileiro SA has sent additional information on several shallow water oil fields to interested parties as it kickstarts the non-binding stage of the asset-sale process, according to a securities filing on Wednesday.

** Bankers are working on debt financings totalling 380 million euros ($446.96 million) to back a potential buyout of French trading software provider Ullink, banking sources said.

** Brazil’s state-controlled oil company Petroleo Brasileiro SA said on Tuesday it had started the binding stage for a proposed stake sale in the Maromba field, located in the Campos basin, according to a securities filing.

** ESR Pte Ltd, a unit of Asian logistics firm ESR Cayman Ltd, said it had taken an 18 percent stake in Propertylink Group, buying 60.2 million shares via off-market purchases.

** Royal Dutch Shell said it had cancelled the sale of gas field stakes in Thailand to Kuwait Foreign Petroleum Exploration Company (KUFPEC).

** Hong Kong developer Chinese Estates Holdings said it holds a 6 percent stake in rival property group China Evergrande, having bought HK$11.1 billion ($1.42 billion) of shares between April and October 3.

** Mexico will offer the rights to partner with state oil company Pemex on three major projects on Wednesday, one in the shallow waters of the Gulf of Mexico and two more onshore, the latest step in opening country’s oil and gas industry.

** Australian fund manager QIC has reached a deal to buy out 10 regional malls in the United States from its joint venture partner Forest City Realty Trust Inc on behalf of a client which it did not identify.

** Malaysian state energy firm Petroliam Nasional Berhad, or Petronas, is looking to sell some oil and gas assets owned by its Canadian unit Progress Energy, its adviser BMO Capital Markets said.

** Norway’s Statoil is taking its first step into the solar sector, partnering up with Oslo-listed renewable energy firm Scatec Solar in a joint venture aiming to build several large-scale solar plants in Brazil.

** Portugal’s state-rescued Novo Banco said it has secured bondholders’ approval for a discounted debt buyback, a key condition for completing the sale of the lender to U.S. private equity firm Lone Star.

$1 = 0.8502 euros Compiled by Tamara Mathias and Sonam Rai in Bengaluru

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