May 9, 2018 / 10:05 AM / 17 days ago

Deals of the day-Mergers and acquisitions

(Adds Cade, I Squared, Gorenje, Saudi Basic, Sonatrach, ATON, Cradle Arc; Updates Walmart, Enbridge)

May 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Walmart Inc said it will pay $16 billion for a roughly 77 percent stake in Indian e-commerce firm Flipkart, an effort to compete with rival Amazon.com Inc in an important growth market.

** South African Internet and entertainment firm Naspers sold its entire 11.18 percent stake in Indian e-commerce firm Flipkart to Walmart Inc for $2.2 billion, it said.

** Vodafone has agreed to pay $21.8 billion to buy Liberty Global’s assets in Germany and eastern Europe to take on rivals with a broader range of superfast cable TV, broadband and mobile services.

** Saudi Basic Industries Corp (SABIC), the world’s No.4 petrochemical company, wants to buy about half of the $4.6-billion Indian petchem project backed by Oil and Natural Gas Corp (ONGC), two sources familiar with the matter said.

** Algeria’s state energy firm Sonatrach plans to buy ExxonMobil’s 175,000 barrel-per-day Augusta refinery in Sicily, Italy, the companies said, as the North African oil producer seeks to cut its hefty fuel bills.

** Enbridge Inc, has received higher-than-expected bids for the Canadian midstream assets it is selling as part of its debt-reduction efforts, with initial bids valuing the portfolio as high as C$4.5 billion ($3.5 billion), people familiar with the situation told Reuters.

** HR services provider Recruit Holdings Co has agreed to buy Glassdoor Inc for $1.2 billion, in a deal that will give the Japanese firm access to the U.S. job-website operator’s vast database of company reviews and salary data.

** Agribusiness company Scales Corp Ltd said it would sell its cold storage business for NZ$151.4 million($105.4 million) to Australian company Emergent Cold.

** French oil company Total has agreed to sell its retail business in Haiti to Bandari Corporation Ltd, a consortium formed by local and regional players.

** African gold miner Randgold has ended a joint venture agreement in Mali with junior explorer Cradle Arc , Cradle Arc said, adding it would seek a new partner.

** Australian digital classifieds company Mitula Group said Japanese real estate portal Lifull Co agreed to buy the company for about A$188.3 million ($140 million) and merge it with Lifull’s online classifieds unit.

** BNP Paribas announced a secondary offering of shares in First Hawaiian Inc, resulting in the French bank relinquishing its majority ownership of the Hawaiian bank.

** British investor I Squared Capital said it has agreed to buy TIP Trailer Services, the trailer leasing company formerly owned by General Electric, from China’s HNA Group.

** Chinese household appliances maker Hisense Electric has offered the best bid of 12 euros ($14.22) per share for Gorenje, the Slovenian appliances producer said after announcing it had received three offers.

** Xerox Corp’s board said it intended to resume merger discussions with Fujifilm Corp, seeking a superior deal to terms announced at the end of January that have spurred a complex proxy fight over the company.

** German investor ATON and takeover target Murray & Roberts (M&R) are each seeking to file separate merger notifications to South Africa’s Competition Commission - a procedure typically used in hostile takeover situations.

** Brazil’s antitrust regulator Cade approved the sale of a Vale SA fertilizer unit to Yara International ASA, sanctioning a deal that will allow the Norwegian giant to produce nitrogen-based fertilizers in Brazil. (Compiled by Nivedita Balu and Mrinalini Krothapalli in Bengaluru)

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