August 5, 2019 / 10:12 AM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds New Media Investment Group, Astaldi, Metro, Sports Direct International, FinecoBank, Illycaffe, Accelya, Quercus)

Aug 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** Fortress Investment Group-backed New Media Investment Group said it will buy USA Today-owner Gannett Co in a $1.4 billion deal, combining two of the biggest U.S. daily newspapers.

** An Italian court has accepted a request by Astaldi for creditor protection after construction company Salini Impregilo agreed to help rescue the troubled builder as part of a broader plan.

** Czech businessman Daniel Kretinsky’s investment vehicle said it would not raise its 5.8 billion euro ($6.5 billion) bid for Metro, after failing to convince two of the German retailer’s top shareholders of the deal.

** Britain’s Sports Direct International Plc has bought clothing retailer Jack Wills for 12.75 million pounds ($15.51 million), the Mike Ashley-led company said.

** Italian online broker FinecoBank will not be part of an expected wave of mergers in the asset management industry, either as predator or prey, its chief executive said.

** Italian coffee roaster illycaffe has bought its distributor in Britain, signalling its confidence in the market in spite of uncertainties surrounding the country’s looming exit from the European Union.

** The private equity owner of European airline services firm Accelya has hired Bank of America to sell the business in a deal that could value the company at up to 1.5 billion euros $1.67 billion), two sources familiar with the matter said.

** British-based renewable energy investor Quercus is looking to sell a 320 megawatt portfolio of wind and solar energy assets in Europe, a source familiar with the matter.

** Cessna business jets maker Textron Inc said it will explore options for its unit that manufactures fuel tanks for vehicles, including a sale or a spinoff, as it focuses on its higher margin businesses.

** Brazilian state-run oil company Petroleo Brasileiro, or Petrobras, said it had begun the process of selling exploration and production assets in the state of Espirito Santo.

** Amsterdam-based Takeaway.com and British rival Just Eat have finalised the terms of their deal to create a global food delivery company that can rival Uber Eats as the largest outside China.

** Swiss Re’s UK-based ReAssure unit has agreed to buy the life insurance and pensions division of Quilter for 425 million pounds ($515.19 million), just weeks after the reinsurer halted plans to list the business in London.

** Oil and gas explorer Kosmos Energy, expects to have agreed by the end of this year to sell down its stake in projects off the coast of Mauritania and Senegal in which it partners with BP, Kosmos said.

** French energy group Total has agreed to sell a 30% stake in the Trapil pipeline network to crude oil storage operator Pisto SAS for 260 million euros ($289 million) as part of a broader asset sale programme.

** KKR’s offer to buy out minority shareholders in Axel Springer has cleared its minimum acceptance threshold of 20%, both firms said, bringing a plan to take the German publisher private closer to completion.

** U.S. broadcaster Fox Corp agreed to buy Credible Labs Inc in a deal valuing the online finance broker at $397 million, as the Murdoch-controlled firm hunts for growth following the sale of its film and TV assets to Disney.

** Blackstone Group is set to buy the remaining 50% stake in Indiabulls Real Estate’s commercial properties for about 48 billion rupees ($688.8 million), the Economic Times reported.

** Australia’s competition watchdog said it will not oppose conglomerate Wesfarmers Ltd’s $160 million acquisition of online retailer Catch Group.

** China Zhongwang Holdings said on Sunday it was seeking legal advice after the company and its controlling shareholder, Liu Zhongtian, were indicted on charges they evaded $1.8 billion of tariffs by smuggling aluminium into the United States.

** Indian energy and telecoms conglomerate Reliance Industries Ltd will acquire an 87.6% stake in Shopsense Retail Technologies, also known as Fynd, for 2.95 billion Indian rupees ($42.33 million), it said in a statement.

** Carmakers Nissan Motor Co and Renault SA are trying to reach a deal to reshape their global alliance, in hopes of reviving Renault’s merger talks with Italy’s Fiat Chrysler Automobiles NV, the Wall Street Journal reported on Friday, citing emails and people briefed on the talks.

** Montreal real estate developer Group Mach on Friday offered to buy at least 6.9 million, or about 19.5%, class B voting shares of Transat AT Inc at C$14 per share, as it looks to block Air Canada’s deal for the Canadian tour operator.

** The U.S. Federal Trade Commission said on Friday it was suing to stop Evonik Industries AG’s proposed purchase of rival hydrogen peroxide maker PeroxyChem Holding Company, citing concerns that the deal would lead to higher prices.

** U.S. Transportation Secretary Elaine Chao granted tentative approval on Friday for an expanded transatlantic joint venture made up of Delta Air Lines Inc, Air France KLM SA and Virgin Atlantic.

Compiled by Abhishek Manikandan and Dominic Roshan K.L. in Bengaluru

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