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Deals of the day-Mergers and acquisitions
June 27, 2017 / 10:04 AM / in 5 months

Deals of the day-Mergers and acquisitions

(Adds National Bank, Syngenta, Trump Hotels, Sistema, DuPont, ABN Amro and CESP; Updates Ryanair)

June 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Privatization of Russian state shipping company Sovcomflot (IPO-SKF.MM) is planned for early July, the TASS news agency quoted Russian Deputy Transport Minister Viktor Olersky as saying.

** Western Digital Corp and U.S. private equity firm KKR & Co LP have resubmitted an offer for Toshiba Corp’s flash memory chip unit, in an eleventh hour effort to prevent the conglomerate signing a deal with its preferred bidder.

** Spain’s state-owned Bankia agreed to acquire Banco Mare Nostrum (BMN), creating the country’s fourth-biggest lender amid consolidation in Europe’s struggling banking sector.

** South African telecommunications firm Blue Label Telecoms said it would buy a mobile device supplier for 1.9 billion rand ($148 million) to expand its existing business in that field.

** Buyout groups Bain Capital and Cinven are talking to investors about a potential new offer for German generic drugmaker Stada after their 5.3 billion euro ($6 billion) bid fell through, people close to the matter said.

** Chinese company 5USport has agreed to purchase a majority stake in English League One side Northampton Town, the club said in a statement.

** Ryanair would seek a majority stake in Alitalia if it decides to invest in the loss-making Italian airline, its chief executive said during a visit to Rome.

** Wells Fargo & Co said it agreed to sell its commercial insurance business to private insurer USI Insurance Services, as the third-largest U.S. bank plans to focus on core banking products and services.

** The board of Greece’s National Bank (NBG) approved the sale of a majority stake in the group’s wholly-owned insurance subsidiary to American-Dutch consortium Calamos-EXIN, a banker close to the deal told Reuters.

    ** Switzerland’s Syngenta, the crop protection company acquired by ChemChina, has vowed to bulk up its seeds business and join the chase for assets rival Bayer must sell to gain regulatory approval for its takeover of Monsanto.

    ** The name Trump will be removed from a high-rise hotel and condo development in downtown Toronto after the project’s new owner, JCF Capital ULC, reached a deal with Trump Hotels to buy out its management contracts for an undisclosed amount.

    ** A Russian court said it had frozen more than $3 billion of Sistema’s assets as it began hearing oil producer Rosneft’s lawsuit against the business conglomerate.

    ** Mexico’s antitrust watchdog said that it has given approval to DuPont and Dow Chemical Co to merge on the condition that they sell certain crop protection products and other assets.

    ** The Dutch state announced plans to sell down its stake in ABN Amro bank from 70 percent to 63 percent.

    ** Brazil’s São Paulo state will send officials and advisors to China, Europe and North America in July to meet investors about the privatization of state-controlled power firm CESP, a source with knowledge of the plans told Reuters. (Compiled by John Benny and Divya Grover in Bengaluru)

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