June 18, 2020 / 10:03 AM / 21 days ago

Deals of the day-Mergers and acquisitions

(Updates Prudential; Adds Stefanel, Bombardier, Thyssenkrupp)

June 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Investor interested in buying Stefanel are invited to submit expressions of interest for the assets of the troubled Italian clothing group by midnight on July 1, the company's temporary administrator said.

** Bombardier's chief executive told shareholders at its annual general meeting that a deal to sell its rail division to France's Alstom SA remains "pretty much on track to our original timeline."

** Thyssenkrupp's elevator division is set to launch a multi-billion euro high-yield debt package in the coming weeks to help finance its acquisition by a private equity consortium, four sources close to the matter told Reuters.

** Shandong Gold Mining Co,, one of China's biggest gold producers, said it would buy Ghana-focused miner Cardinal Resources Ltd for around A$321 million ($221 million) in cash.

** Activist investor Snow Park Capital Partners is urging Front Yard Residential Corporation's board to liquidate the real estate company, arguing this is the best plan following a scuttled merger deal that sent its shares tumbling last month.

** Wells Fargo & Co said its investment adviser Wells Fargo Investment Institute will sell its feeder fund platform to fintech firm iCapital Network for an undisclosed amount.

** Saudi Arabia's Public Investment Fund (PIF) will buy a 2.32% stake in Reliance Industries' digital unit Jio Platforms for 113.67 billion rupees ($1.49 billion), the Indian conglomerate said.

** BASF, the world's largest chemicals maker by sales, said it was mindful of the risk of an unsolicited takeover approach or of an attack from activist investors and was ready to react.

** U.S. private equity firm KKR said it had reached an agreement to buy Dutch vacation parks firm Roompot from French private equity firm PAI Partners.

** Prudential sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding for $500 million, the insurer said, in the first phase of its plan to create an independent U.S. business.

** Australia's antitrust regulator warned Google's planned $2.1 billion acquisition of fitness tracker maker Fitbit may give it too much of people's data, potentially hurting competition in health and online advertising markets.

** Swedish telecom company Telia agreed to sell its stake in mobile operator Turkcell Iletisim to the Turkey Wealth Fund for $530 million, marking its exit from the region.

** Britain's Tesco is selling its Polish business for about 181 million pounds ($227 million), the supermarket group said, leaving its central European business focused on the Czech Republic, Hungary and Slovakia.

** Japanese telco Softbank Corp said it led a $19.5 million funding round in startup Splyt, which helps app operators integrate mobility options with other services, as it seeks to build its own super app.

** Chevron Corp has put up for sale its minority stake in Australia's biggest and oldest liquefied natural gas project, the North West Shelf, after drawing interest from potential buyers, the company said.

** Swedish private equity firm EQT AB said it had agreed to sell its credit business to European buyout fund Bridgepoint. (Compiled by Praveen Paramasivam and Trisha Roy in Bengaluru)

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