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Deals of the day-Mergers and acquisitions
July 13, 2017 / 10:34 AM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds VTB, Metro, Credit Agricole, EagleTree Capital, Odebrecht, NEC Corp, Manulife, Italian Railways, FanDuel; updates Qatar Airways, Sun-Times)

July 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Some creditor banks of Dubai-based Oger Telecom are in talks about a possible sale of its 55 percent stake in fixed-line operator Turk Telekom, after Oger failed to make interest payments on a $4.7 billion loan, four sources said.

** German retailer Metro completed its split into two companies as its food business and consumer electronics division started trading independently on the Frankfurt and Luxembourg stock exchanges.

** Russian state bank VTB is considering the possible sale of smaller or less profitable assets abroad, Chief Executive Andrey Kostin told reporters.

** Credit Agricole’s Indosuez Wealth Management arm has signed a deal to buy the Singapore and Hong Kong private banking businesses of French rival Credit Industriel & Commercial (CIC), CIC said.

** Middle market private equity firm EagleTree Capital is in advanced discussions to acquire Corsair Components, a U.S. manufacturer of computer peripherals and hardware geared toward the professional gaming market, for more than $500 million, two sources familiar with the matter said.

** Japanese PC assembler NEC Corp is looking at buying British software firm Civica for 900 million pounds ($1.16 billion), Sky News reported.

** The transport unit of Odebrecht SA, the Brazilian conglomerate at the heart of a global graft scandal, has concluded the sale of a stake in Rio de Janeiro international airport to China’s HNA Infrastructure Co Ltd for $19 million, the companies said.

** FanDuel Chief Executive Nigel Eccles said his company and DraftKings would terminate a planned merger after a legal challenge by U.S. antitrust enforcers.

** Ferrovie dello Stato said its Busitalia bus unit had signed a preliminary agreement to buy Dutch rival Qbuzz as the Italian rail group presses on with plans to expand abroad.

** Canada’s biggest life insurer Manulife Financial Corp is looking to list or spin off its U.S. unit John Hancock Financial Services, the Wall Street Journal reported, citing people familiar with the matter.

** Bahrain-based asset manager Investcorp has agreed to sell Esmalglass, a supplier of intermediate products for the ceramic industry, to U.S. buyout firm Lone Star Fund X for an enterprise value of 605 million euros ($693 million).

** Britain’s Sports Direct, the retailer controlled by billionaire Mike Ashley, has bought a 25.8 percent stake in Game Digital, the computer gaming group said.

** Qatar Airways said it will go ahead with plans to buy a stake in American Airlines Inc even though the U.S. carrier is ending their code-share agreement.

** A group of investors led by a former Chicago alderman on Wednesday purchased the Sun-Times, out-bidding the owners of the Chicago Tribune for its main rival and ending a federal antitrust investigation into the sale.

** Global Logistic Properties has picked a Chinese private equity consortium over a Warburg Pincus-led group for final talks to acquire Asia’s biggest warehouse operator, two sources familiar with the matter said.

** J&F Investimentos SA has agreed to sell a controlling stake in Havaianas flip-flop maker Alpargatas SA to the investment firms of Brazil’s most prominent banking families for 3.5 billion reais ($1.1 billion), according to securities filings.

** Australia and New Zealand Banking Group is near a deal to sell its Malaysian banking stake to a pension fund and exit the Southeast Asian nation, sources familiar with the matter said, in a transaction that could be worth around $900 million.

** JBS SA, the world’s No. 1 meatpacker, said a Brazilian appeals court has cleared a planned $300 million sale of a South American meatpacking unit to rival Minerva SA.

** Uber and Yandex, the “Google of Russia”, have agreed to combine their Russian ride-sharing businesses, with Yandex becoming the leading partner in a deal that extends to five neighbouring markets.

** Singapore’s Oversea-Chinese Banking Corp (OCBC) and its insurance arm are selling their stakes in property firm United Engineers and a subsidiary to a group led by China’s Yanlord Land Group and Perennial Real Estate Holdings. (Compiled by Ahmed Farhatha and Diptendu Lahiri in Bengaluru)

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