October 23, 2017 / 10:03 AM / a year ago

Deals of the day- Mergers and acquisitions

(Adds Shanghai Electric Group, Eletrobras, Munich Re, UBS; Updates Cisco)

Oct 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** A unit of China’s Shanghai Electric Group Co Ltd is near closing a deal to take over a power transmission project in southern Brazil owned by a subsidiary of Eletrobras, an official at electricity regulator Aneel told Reuters.

** Reinsurer Munich Re’s asset management unit MEAG said that it has agreed to buy a 49 percent stake in Steag’s district heating business for the Ruhr Basin.

** Bank UBS and France’s Caisse des Depots have sold their stake in Norway’s offshore gas pipeline system after years of litigation with the government over tariffs, according to the firm they sold, Njord Gas Infrastructure.

** AT&T Inc said it had extended by a “short period” the deadline to close its proposed deal to acquire Time Warner Inc, to buy time to get the required regulatory approvals for the deal.

** Cisco Systems Inc will buy software company BroadSoft Inc BSFT.O for $1.71 billion, in a deal that boosts Cisco’s collaboration tools and helps the company diversify its offerings away from switching and routing.

** U.S. forest products company Potlatch Corp confirmed it would buy smaller peer Deltic Timber Corp in an all-stock deal that will boost its lumber capacity.

** The German government has approved the sale of three Thyssenkrupp submarines to Israel and will provide financial support for the purchase, government spokesman Steffen Seibert told a regular news conference.

** Blackstone, KKR and some Chinese investors are among potential bidders shortlisted by Link Real Estate Investment Trust to buy some of its Hong Kong retail assets valued at about $2 billion, three sources said.

** Hartford Financial said it would buy health insurer Aetna Inc’s U.S. group life and disability business for $1.45 billion cash in a move that will expand its insurance portfolio and spur its digital technology plans.

** Industrial gases group Linde has cut the approval threshold and extended a deadline for accepting its $80 billion tie-up with Praxair, while pushing on with plans to get a green light from regulators.

** The board of Mediaset has not yet received a draft for a potential agreement with France’s media group Vivendi over a failed pay-TV deal, a board member of the Italian private broadcaster said.

** The EEX European power bourse is seeking a partnership with Chinese peer CBEEX to help develop the Chinese market for emissions trading.

** Engie is seeking a partner for its liquefied natural gas (LNG) division, the French utility said, after one publication reported that Total might buy the business.

** France’s Engie SA has pressed for higher bids for its Loy Yang B coal-fired power plant in Australia following the release of a national energy security plan that encourages the use of coal.

** Struggling commodities trader Noble Group agreed to sell its Americas-focused oil trading business to Vitol for about $580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter.

** Social Finance Inc discussed a potential sale earlier this year, including with financial services company Charles Schwab Corp, but the talks fell apart over the $8 billion price the online lender sought, the Financial Times reported on Sunday, citing people familiar with the matter.

** U.S. forest products company Potlatch Corp is nearing an all-stock deal to acquire smaller peer Deltic Timber Corp, people familiar with the matter said on Sunday.

** Britain’s Spire Healthcare has rejected a full takeover offer from South African private hospitals operator Mediclinic International, which already owns nearly 30 percent of its stock.

** Emaar Properties expects to sell a 20 percent stake in its real estate development business next month in an initial public offering, it said on Sunday, with the smaller than anticipated sale sending its shares down by more than 2 percent. (Compiled by Akankshita Mukhopadhyay and Taenaz Shakir in Bengaluru)

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