July 23, 2019 / 10:02 AM / 6 months ago

Deals of the day-Mergers and acquisitions

(Adds Telecom Italia)

July 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Italy's biggest phone group Telecom Italia is set to announce on Friday a deal with rival Vodafone to merge their tower infrastructure and jointly deploy fifth generation mobile technology in Italy, a source close to the matter said.

** Kenya's parliament voted to accept a proposal to nationalise Kenya Airways as a way of rescuing it from mounting debts.

** The Abu Dhabi National Oil Company (ADNOC) has signed a partnership framework deal worth up to $12 billion with China's Wanhua Chemical Group for collaboration in the downstream sector, ADNOC said.

** India's Reliance Industries talks to grant a minority stake in its refining assets to Saudi Aramco have hit a roadblock over the valuation and structure of the deal, two people familiar with the matter said.

** LSC Communications Inc and Quad/Graphics have terminated their $1.4 billion merger, a month after the U.S. Justice Department filed a lawsuit to block the deal, the companies said.

** Finnish pulp and paper maker UPM said it has decided to go ahead with its plans to build a new pulp plant in Uruguay and it will invest around $3 billion in the project.

** China's Beijing Automotive Group Co Ltd (BAIC) has bought a 5% stake in Daimler, cementing their long-standing alliance after China's Geely emerged as a potential rival by also taking a stake in the German automaker.

** Israeli real estate developer Gazit Globe has agreed to buy the 40% of Atrium European Real Estate it does not already own, betting on growth in densely populated urban areas of Eastern Europe.

** Apple supplier AMS kept alive the prospect of a counterbid for German lighting group Osram, as the Austrian company predicted demand for its optical sensors would continue to recover in the third quarter.

** First State Super and VicSuper said they have signed a binding deal to merge, creating Australia's second-largest pension fund as regulatory pressure drives consolidation.

** Private equity firm BC Partners is nearing a deal to buy a majority stake in Canada-based security services company Garda World Security Corp, the Wall Street Journal reported.

** Altura Mining Ltd said key shareholder Ningbo Shanshan Co Ltd would increase its stake and invest A$22.4 million ($15.8 million) in the company.

Compiled by Dominic Roshan K.L. and Aakash Jagadeesh Babu 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