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Deals of the day- Mergers and acquisitions
June 6, 2016 / 10:42 AM / in 2 years

Deals of the day- Mergers and acquisitions

(Adds KingSett Capital, NordLB; updates Devon Energy)

June 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** U.S. oil and natural gas producer Devon Energy Corp said it would sell assets in Texas for nearly $1 billion and that it was making progress on the sale of other assets as part of its plan to improve its finances through divestitures.

** German state-controlled lender NordLB aims to take full control of its Bremer Landesbank (BLB) unit after regulators asked the Bremen-based lender to shore up its capital against bad shipping loans, sources familiar with the matter said.

** Banco Popolare’s 1 billion euro ($1.1 billion) cash call got off to a solid start on Monday with a rise in the price of the “rights” to subscribe to the offer needed for its planned merger with rival Banca Popolare di Milano.

** The Psagot Investment House, Israel’s largest brokerage, will buy 20 percent of peer-to-peer lending platform BLender’s Israeli activity, the companies said.

** Chinese retail giant Suning Commerce Group Co Ltd has agreed to buy nearly 70 percent of famed Italian soccer club Inter Milan for 270 million euros ($307 million), the highest-profile takeover of a European team so far by a Chinese firm.

** Emerging markets focused private equity firm Abraaj Group said it had acquired a minority stake in Fibabanka to get a foothold in the Turkish banking sector.

** Ser Educacional SA, a Brazilian for-profit education company, said on Sunday it had made a non-binding offer to merge with Estácio Participações SA, a larger rival facing an unsolicited takeover from Kroton Educacional SA.

** BlackRock Inc has agreed to sell a 43-story office building in Singapore to Qatar Investment Authority, a sovereign wealth fund, for S$3.4 billion ($2.45 billion), in what the U.S. firm said was the largest-ever single-tower real estate deal in the Asia-Pacific region.

** Constellis Holdings LLC, the owner of the U.S. military security services business formerly known as Blackwater, is exploring a sale it hopes will value the company at as much as $1 billion, including debt, according to people familiar with the matter.

** Egypt’s EFG Hermes has received approval from Lebanon’s central bank to sell a 40 percent stake in Credit Libanais, the company said.

** German industrial robot maker Kuka would assess a possible European takeover bid but it is wrong to assume such an offer would take priority over the bid by China’s Midea Group Co Ltd‘s, Chief Executive Till Reuter told Frankfurter Allgemeine Sonntagszeitung.

** Real estate-focused private equity firm KingSett Capital is set to acquire 50 percent of Scotia Plaza, Canada’s second tallest office building, from Dream Office REIT and H&R REIT, according to two sources familiar with the situation. (Compiled by Subrat Patnaik in Bengaluru)

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