January 29, 2020 / 10:33 AM / 20 days ago

Deals of the day-Mergers and acquisitions

(Adds L Brands, Metro, Berkshire Hathaway, Stanley Black & Decker, Beyond Meat, Spanish industrial holding; Updates Saudi Telecom)

Jan 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Spanish industrial holding ACEK is putting its wind power company Elawan Energy up for sale in a potential $2 billion deal as it seeks to cash in on high sector valuations, people close to the matter said.

** U.S. toolmaker Stanley Black & Decker Inc said it is acquiring Boeing Co supplier Consolidated Aerospace Manufacturing LLC (CAM) for as much as $1.5 billion, with a portion of the price contingent on Boeing's troubled 737 MAX aircraft returning to the skies.

** Warren Buffett's Berkshire Hathaway Inc agreed to sell its newspaper business to Lee Enterprises Inc for $140 million in cash, abandoning an industry the billionaire investor had long defended even as its financial prospects deteriorated.

** German wholesaler Metro has pushed back expectations to conclude a deal on the sale of its struggling Real hypermarkets unit from the end of January to its annual general meeting on Feb. 14, sources close to the matter told Reuters.

** Victoria's Secret-owner L Brands Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall Street Journal reported.

** Saudi Telecom Co (STC), the kingdom's biggest telecom operator, has struck a preliminary deal to buy Vodafone Group's 55% stake in Vodafone Egypt for $2.4 billion, as it seeks growth in the Arab world's most populous nation.

** U.S. investment firm Starwood Capital Group said it will make a $485 million all-cash offer for Australian Unity Office Fund in at least its fourth attempt to buy the property fund manager.

** Softbank-backed Fortress Investment Group has raised its offer for Unizo Holdings Co by 27% to 5,200 yen per share after Blackstone Group sweetened its offer as the bidding war for the Japanese hotel operator heats up.

** Altice Europe's 'HOT' subsidiary has offered to buy Israeli firm Partner Communications, in what would be the first major merger in Israel's telecom sector and the latest acquisition for Franco-Israeli billionaire Patrick Drahi.

** Brazil's Petrobras will price its largest share offering in a decade on Feb. 5, through which development bank BNDES will sell up to 23.5 billion reais ($5.76 billion) of shares in the oil company, it said in a securities filing. (Compiled by Arundhati and Dania Nadeem 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