April 25, 2019 / 11:02 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds Lonmin; Updates Deutsche Bank, Sainsbury)

April 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Brazilian cosmetics firm Natura Cosmeticos SA said in a statement that it is still in talks for a deal with Avon Products Inc, the company that controls Avon's operations outside North America.

** South Africa's Sibanye-Stillwater revised its offer for Lonmin, with new terms that gave a valuation for the struggling platinum miner that was about 60 million pounds ($77 million) less than originally proposed.

** The collapse of merger talks between Commerzbank and Deutsche Bank is good news, a top Commerzbank shareholder said, betting that the bank will seek an alternative deal with another European rival.

** Occidental Petroleum Corp on Wednesday started the first takeover battle for a major oil company in years, offering $38 billion for Anadarko Petroleum Corp, a bid that topped a $33 billion offer by Chevron Corp.

** Britain's competition regulator blocked Sainsbury's proposed 7.3 billion pound ($9.4 billion) takeover of Walmart-owned Asda, a huge blow to the supermarket groups who wanted to combine to overtake market leader Tesco.

** State-run Korea National Oil Corp (KNOC) has hired Canada's Scotia Bank to help find a financial partner for a 30 percent stake in its British subsidiary Dana Petroleum, two banking sources said.

** Japan's Hitachi Ltd plans to sell its majority stake in Hitachi Chemical, two sources with direct knowledge of the matter told Reuters, in what would mark the latest deal by the sprawling conglomerate to streamline its businesses.

** U.S. investment firms KKR and BlackRock are raising a $3 billion loan to back the purchase of a 40 percent stake in ADNOC Oil Pipelines, an entity of the Abu Dhabi state oil company, according to Project Finance International, a news service that is part of Refinitiv.

** South Korea's Kumho Industrial Co Ltd said it has hired Credit Suisse to manage the sale of its stake in Asiana Airlines.

** Irish building materials group CRH has had a lot of interest in its European distribution arm ahead of a decision in the next two to three months on whether to trigger a sale, Chief Executive Albert Manifold said.

Compiled by Manojna Maddipatla in Bengaluru

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