March 13, 2020 / 10:32 AM / 24 days ago

Deals of the day-Mergers and acquisitions

March 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Friday:

** Banco Santander said it agreed to pay 30 million euros ($33.54 million) for a majority stake in Spanish fintech company Mercury TFS that develops trade finance software for companies.

** China’s oldest peer-to-peer (P2P) lending company FinVolution Group has asked HSBC to seek out potential investors interested in taking the U.S.-listed firm private, two people with direct knowledge of the discussions said.

** Construction firm Maeda Corp said it has succeeded in winning a controlling stake in Maeda Road Construction, a victory for a rare hostile bid in Japan.

** German carrier Lufthansa has been forced by the coronavirus epidemic to halt the sale of the international operations of its airline caterer LSG, the company said, confirming an earlier Reuters report.

** Sinclair Oil Corp, which operates two Wyoming refineries and has licensed more than 1,000 branded gasoline stations, is reviewing offers to buy the company, according to three people familiar with the matter.

** The New York Yankees and the Dallas Cowboys are exploring a sale of Legends Hospitality in a deal they are hoping could value the U.S. stadium operations company at more than $1 billion, including debt, according to people familiar with the matter.

** Cineworld could fail to meet its debt commitments in a worst-case coronavirus scenario, though it plans to press ahead with its $1.65 billion takeover of Canadian rival Cineplex.

** Proxy advisory firm Glass Lewis said it backed an activist shareholder’s call for Japanese beermaker Kirin Holdings to create a more independent board, but advised against its call for a massive share buyback.

** The Russian Finance Ministry estimates the current market value of a Sberbank stake that the central bank now holds at slightly over 2 trillion roubles ($26.6 billion), RIA reported, citing Deputy Finance Minister Vladimir Kolychev.

** Salini Impregilo has written to infrastructure funds asking them to consider partnerships for joint projects, the chief financial officer of Italy’s biggest construction group said.

** The State Bank of India (SBI) said it would invest 72.50 billion rupees ($977 million) for an initial stake in Yes Bank as part of a rescue deal for the troubled lender.

** Lebanon’s banks are poised for a major shake-out as a planned restructuring of government debt is set to leave many financial players illiquid, say bankers. (Compiled by Arunima Kumar in Bengaluru)

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