July 26, 2018 / 10:17 AM / 4 months ago

Deals of the day-Mergers and acquisitions

(Adds Melrose, Kering, EDP-Energias, Ageas, St Gobain, Cellnex, Teleology Holdings, China’s Hillhouse, Redkix, Lundin Mining; updates Surpervalu, Hindalco, Qualcomm)

July 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** British turnaround firm Melrose is considering a series of sales of GKN businesses after clinching an 8 billion pound ($10.5 billion) hostile takeover of the aerospace and automotive parts supplier earlier this year, sources familiar with the matter told Reuters.

** Kering does not intend to sell off any more of its smaller fashion brands beyond the ones already on their way out, the group’s managing director Jean-Francois Palus said.

** Portugal’s EDP-Energias de Portugal, which is the target of a takeover bid by China Three Gorges, posted a 16 percent drop in first-half net profit, mainly due to tax and regulatory pressures in Portugal as well as foreign exchange. ** Ageas has not been approached by Chinese conglomerate Fosun International about a possible bid, the Belgian insurer’s chief executive told Reuters, adding that he has met Fosun officials on only one occasion in the past.

** French construction materials group St Gobain said it would accelerate its general strategy regarding sales of non-core assets and acquisitions, as it posted higher interim profits. ** The holding company of the Benetton family is expected to sell part of its 29.9 percent stake in Spain’s Cellnex to Singapore’s GIC and Abu Dahbi’s ADIA, two sources said.

** Nigeria’s telecoms regulator is finalising its review of investment firm Teleology Holdings’ planned takeover of 9mobile and the deal is expected to close in about a week, two sources told Reuters. ** China’s Hillhouse Capital Group is in talks to buy Yum China Holdings Inc, which operates KFC restaurants in the country, the Information news website reported.

** Israel’s Redkix, whose product combines email and team messaging, said it has agreed to be acquired by Facebook, where it will join the Workplace team to help companies collaborate.

** Lundin Mining Corp launched a hostile C$1.4 billion ($1.1 billion) takeover bid for fellow Canadian miner Nevsun Resources Ltd, saying it had failed to convince Nevsun’s board to strike a friendly deal over the past nine months.

** U.S. grocery retailer Supervalu Inc said it will sell itself to United Natural Foods Inc (UNFI), a distributor of natural and organic foods, for $1.35 billion, after coming under pressure from shareholders to explore a sale.

** India’s Hindalco Industries Ltd said its U.S. unit Novelis Inc has agreed to buy aluminium processor Aleris Corp for $2.6 billion, giving it a foothold in supplying the aerospace industry and other value-added businesses globally.

** UK private equity fund Peninsula bought a 33 percent stake in Italy’s Kiko, investing a total of 80 million euros in the make-up brand, a statement by the owning family said.

** NXP Semiconductors followed Qualcomm Inc in announcing share buybacks worth billions of dollars on Thursday as the companies sought to compensate investors for the collapse of their $44 billion merger due to Chinese opposition.

** Qatar First Bank sold its 20 percent stake in Turkey’s Memorial Health Group to majority shareholder Turgut Aydin and his family, Memorial said in a statement.

** AccorHotels, Europe’s largest hotelier, said it had abandoned plans to buy a minority stake in Air France-KLM , which has been hit by boardroom and staff unrest.

** China’s markets regulator said it has conditionally approved merger between French lens manufacturer Essilor and Italian eyewear Luxottica.

** John Menzies Plc is selling its newspaper distribution business to private equity firm Endless LLP for an enterprise value of 74.5 million pounds ($98.33 million), marking its transition to a pure-play aviation services group.

** Israeli real estate company Gazit-Globe said it sold its remaining 5.6 million shares of Regency Centers Corp for $61.95 a share or a total of $347 million.

** Retailer Casino, which is facing investor concerns about its high debt levels, said it was making progress with its assets disposal plan, with the sale of a 15 percent stake in its Mercialys property unit.

** French waste and water group Suez will sell a 20 percent stake in its United States regulated water business to pension fund PGGM for $601 million, to help strengthen its balance sheet again after last year’s acquisition of GE Water.

** Australia and New Zealand Banking Group Ltd said it entered a term sheet to transfer an 82 percent stake in its pensions unit (P&I) and ownership of its aligned dealer groups (ADG) to wealth manager IOOF Holdings Ltd.

** Aluminum products maker Arconic Inc is weighing takeover approaches from at least two private-equity groups, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. (Compiled by Sanjana Shivdas and Aakash Jagadeesh Babu in Bengaluru)

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