June 12, 2018 / 10:08 AM / 6 months ago

Deals of the day-Mergers and acquisitions

(Adds Societe Generale, Rent-A-Center, Sportradar, Forno d’Asolo, Petros, Neste)

June 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** AT&T Inc, which owns DirecTV, awaits a court ruling on Tuesday that will determine if it can buy Time Warner Inc , a decision that could prompt a cascade of pay TV companies buying television and movie makers and the first big test of the Trump administration’s antitrust teams.

** Deutsche Telekom is set to face a four-month investigation by EU antitrust regulators into its bid to buy the Dutch business of Swedish peer Tele2, two people familiar with the matter said.

** French bank Societe Generale is exploring a sale of its Polish unit Eurobank, which is facing rising pressure from competitors, two investment bankers in Warsaw said.

** Switzerland’s Swiss Re is set to acquire a 13.81 percent stake in Kenyan insurer Britam Holdings from an individual shareholder, both firms said.

** LaSalle Hotel Properties’ third-biggest shareholder, HG Vora Capital Management, said that Pebblebrook Hotel Trust’s revised offer for the U.S. hotel owner was superior to Blackstone’s $3.7 billion bid.

** Buyout firm Vintage Capital Management sweetened its offer for Rent-A-Center Inc to $14 per share in cash, a day after the retailer ended its sale process saying it had not received a satisfactory takeover offer.

** California’s utilities regulator has told SJW Group it must seek approval for its proposed merger with Connecticut Water Service Inc, according to a document provided by the regulator to Reuters, a move that creates a potentially significant impediment to the deal.

** Qatar Gas Transport Company said it had signed an agreement with U.S. firm Excelerate Energy to form a joint-venture company and acquire a 55 percent interest in a floating storage regasification unit.

** KKR and Blackstone have been picked for a second round of bidding for Sportradar, as investor EQT looks to sell a minority stake that could value the Swiss sports data group at more than 2 billion euros ($2.4 billion), sources said.

** The Finnish government’s investment arm, Solidium, said it had sold a small stake in pulp and paper maker Stora Enso to raise funds for new investments.

** A unit of Beijing’s Tsinghua University said it would buy aluminum smelter Tianshan Aluminium for an estimated 23.6 billion yuan ($3.7 billion), in what analysts say is a way for the smelter to become a publicly traded entity.

** Private equity firm BC Partners has bought Italy’s Forno d’Asolo in a deal that implies an enterprise value for the pastry company of around 300 million euros ($353 million), one source close to the transaction said.

** Brazilian pension fund Petros expects to sell part of its stake in mining company Vale SA this year, Chief Executive Officer Walter Mendes said, an indication that Vale’s main shareholders may sell their stakes separately.

** Finland on Tuesday said it would sell 12.8 million shares in oil refiner Neste, representing about 5 percent of the company.

Compiled by Nivedita Balu and Arunima Banerjee in Bengaluru

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