July 11, 2019 / 10:23 AM / 6 days ago

Deals of the day-Mergers and acquisitions

(Adds Koninklijke Wessanen, Reckitt Benckiser, T-Mobile, Verizon, Schur Flexibles, MCD Productions)

July 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** A consortium of investors led by European private equity firm Pai Partners SAS submitted a formal cash offer for Dutch food maker Koninklijke Wessanen, valuing the company at roughly 885 million euros ($996 million).

** T-Mobile US Inc and Sprint Corp expect to extend a July 29 deadline to complete their $26-billion merger, according to two sources close to the deal.

** Verizon Communications Inc earlier this year looked for buyers for Yahoo Finance, one of the most popular internet destinations for financial news and portfolio management tools, three people familiar with the matter told Reuters this week.

** European packaging makers Schur Flexibles and All4Labels have been put up for sale in separate auctions geared towards private equity buyers, people close to the matter said.

** Britain's competition watchdog said the proposed takeover of Ireland-based MCD Productions by the joint venture owned by U.S.-based Live Nation raises competition concerns in the music promotion industry in Northern Ireland.

** Japan's Hitachi Ltd has started the formal process for the sale of its $5.6 billion chemical unit with initial bids due in August, people familiar with the matter said, a deal that is expected to draw interest from global private-equity firms.

** Virgin Australia Holdings Ltd said that Affinity Equity Partners is seeking to exit its 35% minority stake in the carrier's Velocity frequent flyer programme, five years after its A$335 million ($233 million) purchase.

** China's Dajia Insurance Group will set up a property and casualty unit to take over part of Anbang Insurance's assets, the country's regulator said.

** Norwegian Air's outgoing chief executive, Bjoern Kjos, told Norwegian broadcaster TV2 there were "several parties" interested in buying Norwegian Air.

** Siam Commercial Bank, Thailand's largest lender, said it had invested in Indonesian ride-hailing app Go-Jek, but did not disclose how much it injected.

** French agricultural groups InVivo, Axereal and NatUp have formed a grain export joint venture in an attempt to improve their competitiveness in overseas markets increasingly dominated by Black Sea producers led by Russia.

** French and Mexican dairy groups Lactalis and Grupo Lala SAB de CV reached an agreement to end litigation in Latin America, allowing Lactalis to conclude the acquisition of Brazilian dairy producer Itambe Alimentos SA, Lactalis CEO for Latin America Patrick Sauvageot said on Wednesday. (Compiled by Soundarya J in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below