November 29, 2019 / 11:15 AM / 8 days ago

Deals of the day-Mergers and acquisitions

(Adds Moet Hennessy, NN Group, MONETA Money Bank)

Nov 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1800 GMT on Friday:

** Moet Hennessy, LVMH’s wines and spirit unit, said on Friday it had acquired a 55% stake in Chateau d’Esclans, a rose wine producer in the scenic Var region of southeastern France.

** The Netherlands’ biggest insurer NN Group NV and Belgian rival Ageas are vying to win market share in Spain as they prepare final offers to take control of domestic insurer Caser Seguros ahead of a Dec. 3 bid deadline, sources said.

** Czech MONETA Money Bank is in exclusive talks to buy the Czech building savings and mortgage business of Germany’s Wuestenrot & Wuerttembergische AG, the two firms said on Friday, aiming to sign a deal by the end of the year.

** In a battle of billionaires, Italian broadcaster Mediaset’s expansion plans faced a showdown with shareholder Vivendi as a court deadline on reaching a deal loomed.

** South African telecoms company Telkom SA said its takeover bid for Cell C had been rejected, a move that comes after its larger but troubled rival expanded a roaming agreement with African giant MTN Group.

** The owner of the Daily Mail newspaper said it would buy the “i” newspaper and website from JPI Media for a 49.6 million pound ($63.64 million) cash consideration.

** E.ON will examine strategic options for the business to business client portfolio it plans to carve out from British subsidiary Npower, Chief Executive Johannes Teyssen said.

** Austrian utility Verbund has pulled out of the bidding for EDP-Energia de Portugal’s hydro assets, a spokeswoman for Verbund said.

** British company Northgate Plc said it would buy peer Redde Plc for about 394 million pounds ($505.50 million) in a stock deal that would create one of the country’s largest vehicle rental services firms.

** Clariant will take a 10% stake in French cosmetics ingredients maker Plant Advanced Technologies , the Swiss speciality chemicals company said, setting up a strategic partnership between the two companies.

** BMW and its partner Great Wall Motor said they plan to build a plant in China with a capacity of 160,000 cars per year, and which will produce BMW’s electric MINI brand and Great Wall Motor models.

** Turkey’s banks and financial institutions bought 85.05% of JCR Eurasia, the local unit of Japan Credit Rating Agency, Turkey’s banking association said, sealing Ankara’s longtime goal of relying less on the big three global agencies.

** Japan’s SMFG is the most serious bidder competing for a stake in Indonesia’s PT Bank Permata, Slamet Edy Purnomo, a deputy commissioner at Indonesia Financial Service Regulator (OJK), said.

** Shares in Future Retail Ltd surged 13%, after India’s antitrust body approved a deal that would give Amazon.com Inc a minority stake in one of the country’s top retail groups.

** Chevron has launched the sale of its stakes in two Nigerian offshore oil and gas blocks, a sale document seen by Reuters shows, as the company seeks to dispose of ageing assets to focus on its fast-growing U.S. production.

** U.S. apparel and footwear conglomerate VF Corporation and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources familiar with the matter told Reuters.

** Hedge funds control 35-45% of the shares of German lighting group Osram, posing a headache for Austrian suitor AMS as the investors may press for the $5 billion offer to be sweetened, a person close to the matter said on Thursday.

** Pernod Ricard is looking to expand its tequila range, possibly through acquisition, the French drinks group’s CEO for Europe, the Middle East, Africa and Latin America said.

** Italian fashion house Roberto Cavalli was bought on Thursday by Hussain Sajwani, the chairman of Dubai’s Damac Properties, the companies said, ending a long sale process.

** Israel’s antitrust court on Thursday ruled in favour of the acquisition of Union Bank of Israel by rival Mizrahi Tefahot Bank, overturning an earlier decision by the antitrust authority to block the deal.

** The owners of Premier League champions Manchester City have agreed to buy 65% of Indian soccer team Mumbai City FC, expanding their global stable of clubs to eight in countries from China to Japan to the United States.

** Louis Dreyfus Company is making sweeping cost cuts, starting with travel, entertainment, hiring and salaries, as the 168-year-old agricultural commodities firm tries to revive dwindling profits.

** The Morgan Stanley Infrastructure Partners (MSIP) fund has extended its offer to buy German renewable firm PNE AG by two weeks to Dec. 12, it said on Thursday.

** Russia’s anti-monopoly watchdog said on Thursday it had delayed its approval of a joint venture between Russian oil producer Gazprom Neft and Royal Dutch Shell for technical reasons.

** India’s Reliance Industries Ltd, controlled by Asia’s richest man Mukesh Ambani, on Thursday denied a Bloomberg report that it was in talks to sell its news assets to local media conglomerate Times Group.

** Banks are lining up to provide around £1.4bn of debt to back the acquisition of UK forensic sciences group LGC by a private equity consortium led by European firms Cinven and Astorg, but high leverage on the loan is preventing some banks from getting involved, banking sources said.

** Panasonic Corp said it would sell its loss-making semiconductor unit to Taiwan’s Nuvoton Technology Corp for $250 million as the Japanese electronics giant struggles to lift its profit amid a lack of growth drivers.

** Russian state lender Sberbank acquired an 8% stake in the Afipsky oil refinery, Interfax news agency’s Spark database showed on Thursday.

** Prudential Financial Inc, the No. 1 U.S. life insurer, has hired Goldman Sachs to explore the possibility of selling its South Korean unit, which could fetch about 2 trillion won ($1.70 billion), Korea Economic Daily reported.

** Sweden’s Granges said on Thursday it had agreed to buy Polish aluminium producer Aluminium Konin for 2.3 billion Swedish crowns($239 million), expanding its presence in Europe and boosting its position in growth areas such as materials for electric vehicles.

** Zurich Insurance has completed the acquisition of Adira Insurance, it said on Thursday, a deal which makes the Swiss company the largest international property and casualty insurer in Indonesia. (Compiled by Ambhini Aishwarya and Trisha Roy in Bengaluru)

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