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Deals of the day-Mergers and acquisitions
October 11, 2017 / 10:08 AM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds Total, Novartis, Altus Strategies, Lufthansa , Updates Kroger, Qatar National Bank)

Oct 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** French oil company Total and energy group Erg are in exclusive talks to try and sell their Italian petrol station network, sources said, after some investors grew jittery over the move to electric cars.

** Novartis has decided not to sell its roughly $14 billion, 33 percent voting stake in Roche following a review, Chairman Joerg Reinhardt said in an interview published on Wednesday in Swiss newspaper HandelsZeitung.

** Kroger Co said on Wednesday it is exploring the sale of its nearly 800 convenience stores as the No. 1 U.S. supermarket operator strengthens its Web business in a market share war that has intensified after Amazon.com Inc’s purchase of Whole Foods.

** British explorer Altus Strategies on Wednesday signed an outline 3.4 million pound ($4.5 million) deal to buy Legend Gold Corp and said it was aiming to make the most of a subdued market to grow the newly-listed company further.

** Lufthansa is poised to agree a deal to buy assets from insolvent Air Berlin, a person familiar with the matter told Reuters, ahead of a deadline on Thursday.

** A group of six Chinese independent oil refiners set up a 33 billion yuan ($5 billion) joint venture to compete with state-owned giants and the rise of private chemical giants, a senior executive at one of the partners said.

** South African miner Exxaro Resources said it had completed its sale of 22.4 million shares in U.S. titanium products company Tronox with net proceeds of $474 million.

** Brazilian energy conglomerate Cosan SA Industria e Comércio agreed to pay its partner Royal Dutch Shell Plc 1.16 billion reais ($365 million) for a 16.8 percent stake in gas distribution company Companhia de Gás de São Paulo, or Comgás.

** Russian tycoons Mikhail Prokhorov and Viktor Vekselberg have sold a 3 percent stake in Russian aluminum giant Rusal via an accelerated bookbuilding (ABB) for $315 million, one of their bookrunners said.

** Buyout group BC Partners has agreed to buy German industrial ceramics group Ceramtec from peer investor Cinven , the groups said.

** KKR & Co LP has raised its offer price for Hitachi Kokusai Electric Inc to 2,900 yen a share from 2,503 yen, the Japanese firm said, after a U.S. hedge fund put pressure on the private equity firm to revise terms.

** Bharti Airtel Ltd, India’s top telecom operator, said it had partnered with handset maker Karbonn Mobiles to introduce a 4G-enabled smartphone at the price of a feature phone.

** Qatar National Bank’s said on Wednesday its stake in United Arab Emirates-based Commercial Bank International is not for sale. (Compiled by Arunima Banerjee and Vibhuti Sharma in Bengaluru)

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