May 7, 2020 / 10:02 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Albemarle, Far Point Acquisition, Anima Holding, Zoom Video)

May 7 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Thursday:

** Warburg Pincus is considering selling five of its eight international oil and gas investments after the coronavirus crisis hit demand, sources familiar with the matter said.

** Zoom Video Communications Inc pushed forward in its effort to revamp its security, striking a deal with the New York attorney general’s office to protect users’ privacy and purchasing secure messaging startup Keybase.

** Albemarle Corp said it was interested in buying all or part of Tianqi Lithium Corp’s controlling stake in Australia’s Greenbushes, the world’s largest lithium mine.

** Blank-check company Far Point Acquisition Corp urged its shareholders to vote against the $2.6 billion deal to buy Global Blue after disruptions caused by the COVID-19 pandemic hit operations of the shopping tax refund firm.

** Brazil’s Petrobras has put the sale of a massive cluster of offshore oilfields on ice, three sources with knowledge of the matter told Reuters this week, underlining the challenges the state-run oil company faces in its bid to reduce debt amid the novel coronavirus pandemic.

** Liberty Global and Telefonica have agreed to merge their British businesses in a $38 billion deal, including debt, that will create a powerhouse in mobile and broadband to take on market leader BT.

** GlaxoSmithKline has sold its stake in Unilever’s Indian business for $3.4 billion, marking India’s largest block trade, which will help the British company in its goal of reinvigorating its drug development pipeline.

** Israel’s Delek Group said it had signed a binding agreement to sell its fuel storage and distribution company Pi Gelilot to a third party for 720 million shekels ($205 million) as it continues to sell assets to pay its debts.

** French media conglomerate Vivendi SA has increased its stake in Lagardere to 13.36% from 10.6%, an AMF regulatory filing showed.

** German broadcaster ProSiebenSat.1 Media is not in strategic talks with Mediaset, its new CEO Rainer Beaujean said in response to the accumulation of a large minority stake by the Italian company.

** Finnish engineering groups Metso and Outotec said the merger of their main mining equipment businesses was on track for a mid-year close, despite a hit to machinery demand from the coronavirus crisis.

** The CEO of British Airways-owner IAG said the process for it to acquire Spanish airline Air Europa was ongoing, although he noted that the agreement between the pair did contain a price adjustment mechanism.

** Nigerian conglomerate UAC plans to complete an unbundling of its majority stake in its loss-making property arm UPDC by July, subject to coronavirus disruptions that might affect approval timings, the group managing director said.

** Italian asset manager Anima Holding could spend up to 400 million euros ($433 million) to buy a smaller rival abroad and expand in Europe, newly-appointed Chief Executive Alessandro Melzi D’Eril said. (Compiled by Nivedita Balu and Manojna Maddipatla in Bengaluru)

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