April 6, 2017 / 2:02 PM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Nestle; Updates Unilever, Linde, Fincantieri, Sunoco)

April 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Nestle’s outgoing chairman said he could not predict what Nestle would do with its 23 percent stake in French cosmetics group L’Oreal after the termination of an agreement between the Swiss food company and the Bettencourt family, L’Oreal’s biggest shareholder.

** Sunoco LP said it would sell 1,110 convenience stores to Japan’s Seven & i Holdings Co for $3.3 billion as the Texas-based company shifts its focus to its fuel supply business.

** The labour and capital representatives on Linde’s supervisory board stuck to their opposing positions over a planned merger with Praxair at a meeting, a supervisory board source told Reuters.

** Car parts supplier and integrator Delphi Automotive announced investments and partnerships in three privately held companies to help carmakers profit from the increasing amount of data produced by the growing number of vehicles connected to the internet.

** The French government said it had reached a preliminary deal clearing the way for Italy’s Fincantieri to acquire a 48 percent stake in shipbuilder STX France, as Italian buyers aim to take control of the firm.

** Amancio Ortega, founder of the world’s biggest clothing retailer Inditex and Europe’s richest man, has put a majority stake in the firm that owns the Zara fashion chain into a holding company to ensure family control remains unassailable after he dies.

** Old Mutual has put up for sale its 50 percent stake in a Chinese insurance joint venture, people with direct knowledge of the matter said, as part of a revamp of the Anglo-South African financial group and amid a tough market for foreign insurers in China.

** Qatar Investment Authority sold about 2.5 percent of Banco Santander Brasil SA for 2.3 billion reais ($737 million) in a restricted offering after banks exercised an option to buy extra units, the bank said.

** WaveDivision Holdings LLC is exploring a sale that its private equity owners hope will value the regional U.S. provider of cable TV, internet and telephone service at more than $2 billion, including debt, people familiar with the matter said.

** Community bank PacWest Bancorp said it would buy fellow California-based lender CU Bancorp in a cash-and-stock deal valued at about $705 million, as it seeks to strengthen its presence in Southern California.

** China’s Shandong Gold Mining Co Ltd will pay $960 million for a 50 percent stake in Barrick Gold Corp’s Veladero gold mine in Argentina, the Canadian miner said.

** French group Saint-Gobain has extended until the end of this year its contract to buy a controlling stake in Swiss construction chemicals maker Sika from Sika’s founding family and may prolong it again until the end of 2018, it said.

** Britain’s Co-operative Group, the mutually-owned supermarkets to funeral services group, wrote off the value of its stake in the struggling Co-operative Bank, citing uncertainty about the value of the bank during its sale process.

** German billionaire Dietmar Hopp is preparing to put medical skin patch maker LTS Lohmann on the block as he reshuffles his portfolio, three people close to the matter said.

** The board of Bank Hapoalim, Israel’s largest lender, has instructed management to explore options for selling off its credit card unit Isracard, the bank said.

** German consumer goods group Henkel will keep looking for acquisitions to bolster its business, its new chief executive said.

** U.S. drug distributor Cardinal Health Inc is nearing a deal to acquire medical device maker Medtronic Plc’s medical supplies business for close to $6 billion, people familiar with the matter said on Wednesday.

** MGM Holdings Inc said it would acquire the 81 percent of premium U.S. channel Epix it does not already own from two of its partners, Viacom Inc and Lionsgate Entertainment Corp, for about $1 billion.

** Turkish retailer Boyner Holding is looking to sell up to 60 percent of its online fashion site, Morhipo.com, and has mandated brokerage Unlu & Co to advise on the sale, two sources familiar with the matter said.

** Amazon.com founder Jeff Bezos said on Wednesday he is selling about $1 billion worth of the internet retailer’s stock annually to fund his Blue Origin rocket company, which aims to launch paying passengers on 11-minute space rides starting next year. (Compiled by Aishwarya Venugopal,Anya George Tharakan and Akankshita Mukhopadhyay in Bengaluru)

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