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Deals of the day-Mergers and acquisitions
November 15, 2017 / 11:02 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Magnit, Cenovus Energy and BNP Paribas)

Nov 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Shares in Russian low-cost food retailer Magnit fell 9 percent after its main owner sold a stake at a big discount, raising around $730 million which the company said will be re-invested in the business.

** Canadian oil producer Cenovus Energy inc has put a package of mainly non-core Deep Basin gas assets for sale, its new CEO Alex Pourbaix said in his first media briefing on Wednesday.

** BNP Paribas plans to bolster its banking teams in the Nordic region and would consider buying corporate banking portfolios if offered up by European rivals, an executive said.

** Warren Buffett’s Berkshire Hathaway Inc has sold another large piece of its stake in IBM Corp, backing further away from an investment that the billionaire has admitted was not one of his best.

** Airbus landed its biggest ever airliner deal on Wednesday with an agreement to sell 430 planes worth up to $50 billion to U.S. budget airlines investor Bill Franke.

** Viacom Inc should package 10 percent of its international operations and take it public, Mario Gabelli, chief executive officer of GAMCO Investors Inc, said on Tuesday at the Reuters Global Investment 2018 Outlook.

** Shanghai Pharmaceuticals Holding Co has agreed to buy Cardinal Health Inc’s China drug distribution business for $557 million, winning a highly competitive auction in a move that will expand its presence nationwide.

** French facilities management and vouchers group Sodexo is buying Centerplate, a U.S. company that provides food and hospitality services, for $675 million to expand in the U.S. sports and leisure market.

** Carlyle Group, the world’s largest private equity firm, is raising up to $1 billion for a new fund to invest in oil and gas outside the United States as a stronger outlook for oil prices rekindles investor appetite, banking sources said.

** India’s Edelweiss Financial Services Ltd has launched a share sale to institutions to raise as much as 20 billion rupees ($307 million), according to a deal term sheet seen by Reuters on Wednesday.

** Oil and gas producer SandRidge Energy said it would buy rival Bonanza Creek in a deal valued at $746 million to expand its presence in the Denver-Julesburg Basin of Colorado.

** U.S. buyout fund Cerberus has taken a 3 percent stake in Deutsche Bank, Germany’s flagship lender said.

** A ruling on Qualcomm Inc’s proposed $38-billion acquisition of NXP Semiconductors NV may come in 2018, European Commissioner for Competition Margrethe Vestager said.

** Atlantia Chief Executive told the Financial Times that there is room for the Italian infrastructure group to improve its offer on Spain’s Abertis.

** The Vietnamese government aims to complete a stake sale in the country’s biggest brewer Sabeco in December, the trade ministry said, in the clearest signal yet that the long-awaited state divestment might happen this year after repeated delays.

** Legal & General (L&G), the owner of Britain’s biggest fund manager, has staked its claim for a slice of the growing market for exchange-traded funds (ETFs) with a deal to buy Europe-focused platform, Canvas.

** German energy group Innogy will at some point pull out of the planned British retail supply joint venture with SSE, its chief executive said.

Compiled by Sanjana Shivdas and Karan Nagarkatti in Bengaluru

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