March 31, 2017 / 10:14 AM / a year ago

Deals of the day-Mergers and acquisitions

(Updates John Menzies; Adds Glencore, Renova Energia SA)

March 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Brazil’s renewable power generation company Renova Energia SA will finalize the sale of wind farm Alto Sertão II to the Brazilian unit of AES Corp for about 700 million reais ($223 million) as early as Monday, two people with direct knowledge of the matter said.

** Swiss-based trading and mining giant Glencore has agreed to sell a 51 percent stake in its oil products and logistics business for $775 million to China’s HNA Innovation Finance Group Ltd, the company said.

** U.S. private equity firm Silver Lake Partners and U.S. chipmaker Broadcom Ltd have offered Toshiba Corp about 2 trillion yen ($17.9 billion) for its chip unit, the Nikkei business daily reported.

** Johnson & Johnson declared its $30 billion tender offer for Swiss biotechnology company Actelion successful, reporting it controlled 77.2 percent of the voting rights after the main offer period.

** Canadian Imperial Bank of Commerce said it had raised its takeover offer for PrivateBancorp Inc by 20 percent to about $4.9 billion, after some of the Chicago-based lender’s shareholders opposed an initial bid.

** Britain has sold a portfolio of mortgages issued by failed lender Bradford & Bingley for 11.8 billion pounds ($14.67 billion) to insurer Prudential and buyout firm Blackstone in one of the biggest deals of its kind.

** Dutch publicly owned utility Eneco said it would buy the Belgian gas and power retail operations of Italian oil and gas company Eni, the Dutch company’s second regional renewable energy related deal this year.

** Bahrain-based Investcorp is studying the sale of Spanish ceramic glazes firm Esmalglass in a deal that could be worth close to 600 million euros ($640.68 million), three sources with knowledge of the deal said.

** Swiss-based commodities trading and mining giant Glencore is in advanced talks to sell a bundle of its global oil storage stakes, sources familiar with the matter said, following a boom period for storage companies.

** The purchase of Indian refiner Essar Oil by a consortium led by Russian oil company Rosneft has been delayed by a few weeks, the two sides said on Friday, because some Indian lenders to Essar have yet to sign off on the deal.

** Scottish firm John Menzies said it was in talks to sell its distribution arm in a reverse takeover deal with UK mail delivery firm DX Group, which DX’s top shareholder said was a “bad” proposal.

** French food group Danone said it would sell its U.S. organic yoghurt business Stonyfield to facilitate the rapid completion of its $10.4 billion acquisition of U.S. organic food producer WhiteWave foods Co.

** Mail delivery firm DX Group Plc said it was talks to buy airport services and logistics group John Menzies’ distribution division in a cash-and-stock deal.

** Fubon Financial Holding Co is planning to take a cash offer for its entire stake in Delta Lloyd from NN Group amid concerns about the outlook for the two Dutch insurers’ merger.

** Investment company Pine Brook said it would buy Triumph Capital Advisors LLC, a credit investment firm that manages collateralized loan obligations, from Triumph Bancorp.

Compiled by Laharee Chatterjee and Akankshita Mukhopadhyay in Bengaluru

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