August 31, 2016 / 10:07 AM / in 2 years

Deals of the day-Mergers and acquisitions

Aug 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

** JX Holdings Inc, Japan’s biggest oil refiner by sales, has agreed to pay about 352 billion yen ($3.4 billion) in stock for TonenGeneral Sekiyu KK, the country’s third-largest refiner by sales.

** Twin Butte Energy debenture holders, who on Monday rejected a takeover bid by Reignwood Resources Holding Pte Ltd, have made an alternative proposal on the deal to the Canadian oil producer’s special committee, a source familiar with the situation said on Tuesday.

** India’s Zee Entertainment Enterprises Ltd said it has agreed to sell its sports broadcasting business to Sony Pictures Networks for $385 million, as it rejigs its media content delivery businesses.

** The head of Deutsche Bank made a rare public call on Wednesday for cross-border mergers in Europe. John Cryan’s remarks will likely spur further discussion about the future of the struggling bank, although he was quick to throw cold water on reports that Deutsche examined a merger with Commerzbank, which is partly owned by the German state.

** Nexus Capital Management, a Hong Kong-based fund, has further increased its stake in China Vanke Co Ltd , the country’s biggest property developer currently embroiled in a high-profile power struggle, sending shares in Vanke higher.

** Private equity firm Vista Equity Partners Management LLC is exploring a sale of Aptean Inc, hoping a deal will value the U.S. business software company at more than $1 billion, including debt, according to people familiar with the matter.

** Motiva Enterprises LLC said on Tuesday the division of its U.S. refining assets between Royal Dutch Shell Plc and Saudi Aramco IPO-ARMO.SE would take place on April 1, 2017, months later than originally expected. (Compiled by Akankshita Mukhopadhyay in Bengaluru)

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