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Deals of the day-Mergers and acquisitions
2017年6月29日 / 上午10点16分 / 3 个月前

Deals of the day-Mergers and acquisitions

(Adds Rosneft, Elsan, Stada, Artemis, Coca-Cola, Premier Foods, American International Group and Amec Foster Wheeler; Updates Walgreens Boots Alliance, Sky and IndiGo)

June 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Drugstore chain Walgreens Boots Alliance Inc scrapped its deal to buy Rite Aid Corp after failing to win antitrust approval, but said it would instead buy nearly half of the smaller rival’s U.S. stores for $5.18 billion.

** Britain intends to subject Rupert Murdoch’s takeover of European pay-TV group Sky to a lengthy in-depth investigation after finding the $15 billion deal risks giving the media mogul too much power over the news agenda.

** Forestar Group Inc scrapped its merger agreement with investment firm Starwood Capital Group and said U.S. homebuilder D.R. Horton Inc would buy a 75 percent stake in the company.

** China Vanke Co Ltd, has won the right to buy companies holding assets including land for 55.1 billion yuan ($8.13 billion), in a landmark auction of equity rights in China, state media reported.

** India’s biggest airline, IndiGo, has expressed unsolicited interest in buying a stake in state-owned Air India, the junior aviation minister said, a day after the cabinet approved plans to privatise the carrier.

** Dubai’s Majid Al Futtaim, which operates the franchise of French retailer Carrefour in the Middle East, has acquired 26 Geant hypermarket stores in the United Arab Emirates, Bahrain and Kuwait from BMA International.

** The China National Machinery Industry Corp (Sinomach) will merge with The China High-Tech Group, the country’s state asset regulator said, part of China’s ongoing efforts to slim down its bloated state sector.

** Rio Tinto, shareholders approved the sale of a suite of Australian coal assets to China-backed Yancoal Australia for $2.69 billion, ending a bidding war with commodities trader Glencore.

** Western Digital Corp said legal action and other moves taken by Toshiba Corp in their dispute over the sale of its prized memory chip unit were harming Toshiba’s stakeholders and customers.

** Finnish pension insurance companies Ilmarinen and Etera will merge to form Finland’s largest private sector pension insurer, the companies said.

** Britain’s biggest retailer Tesco and its takeover target Booker have asked the UK competition regulator to “fast track” examination of their 3.7 billion pound ($4.8 billion) deal to a more detailed second stage, they said.

** DS Smith Plc, a maker of corrugated cardboard, recycled paper and plastic packaging, said it would buy 80 percent of Interstate Resources, a corrugated packaging business, for $920 million, giving it an entry into the American market.

** U.S. private equity firm Lone Star Funds is making a renewed push to sell corporate bank IKB, one of the highest-profile German casualties of the financial crisis, according to a person close to the matter.

** Dutch insurance group EXIN agreed to buy a 75 percent stake in Greek lender National Bank’s (NBG) insurance subsidiary for 718 million euros ($820.17 million), it said.

** German plastics and chemicals group Covestro pledged it would return cash to shareholders if it cannot find a suitable major takeover target within two years as it eyes 5 billion euros ($5.7 billion) in total operating cash flow after investments over the next five years.

** ConocoPhillips said it would sell its assets in the Barnett shale field in Texas to Miller Thomson & Partners LLC for about $305 million, as part of the largest U.S. independent oil producer’s efforts to reduce exposure to natural gas.

** Russia’s largest oil producer Rosneft said it was targeting China’s gas market after completing a $1.1 billion deal to sell 20 percent of its subsidiary Verkhnechyonskneftegaz (VChNG) to Beijing Gas.

** Tethys Invest, an investment fund of L‘Oreal’s largest investor, the Bettencourt-Meyers family, said it had bought a minority stake in French private hospital group Elsan.

** Bain and Cinven have yet to ask the underwriting banks to stand down on a 3.175 bln euros jumbo buyout financing for Stada as they gear up to make a new offer for the German drugmaker, banking sources said.

** Artemis, the investment arm of Kering’s founding Pinault family, said it had taken a minority stake in fashion house Maison Valli with a view to acquiring control at a later stage.

** Drinks giant Coca-Cola said it had reached an agreement with the South African government on a package of conditions as it finalises the purchase of a controlling 54.5 percent stake in its joint Africa venture with ABInBev.

** Premier Foods, the owner of British food brands including Mr Kipling cakes and Oxo stock cubes, is exploring options as part of a regular review into maximizing shareholder value.

** Billionaire investor Carl Icahn is backing off his demand to break up insurance giant American International Group Inc , following the company’s sale of assets and hiring of a new chief executive officer, a person familiar with the matter said.

** Oil services company Amec Foster Wheeler Plc, which is being bought by peer John Wood Group Plc, said it had decided to retain its European nuclear unit and sell its North American business. (Compiled by John Benny and Divya Grover in Bengaluru)

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