April 19, 2017 / 10:27 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Shandong Tyan, Rolls-Royce, Advent International, Abu Dhabi National Energy, Telecom Italia, Grupo Bimbo and BlackRock; updates PPG and Lufthansa)

April 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** A group backed by private equity firm KKR & Co said it had made a revised A$6.15 billion ($4.65 billion) offer for Australia’s biggest lottery operator Tatts Group Ltd, upping the ante in a bidding war against Tabcorp Holdings Ltd.

** Chevron Corp, the second-largest U.S.-based oil company, sold its Canadian gasoline stations and refinery in British Columbia to Parkland Fuel Corp, a marketer of petroleum products, for C$1.46 billion ($1.09 billion).

** Ant Financial, the payment affiliate of Alibaba Group Holding Ltd , has acquired Singapore-based payment service helloPay Group, as part of the Chinese firm’s drive to boost its Alipay brand and presence in Southeast Asia.

** A Japanese government-backed fund and policy bank are considering a joint bid with Broadcom Ltd for Toshiba Corp’s semiconductor business, a move that would vault the U.S. chipmaker into the lead to buy the prized unit, the Asahi newspaper said.

** Siam Commercial Bank (SCB) has entered into exclusive talks with Hong Kong insurer FWD Group to sell its life insurance arm, which could raise $3 billion for Thailand’s third-biggest lender, people with direct knowledge of the matter said.

** Canadian grocery and pharmacy retailer Loblaw Cos Ltd said it would sell its gas station business to asset manager Brookfield Business Partners LP for about C$540 million ($402.17 million).

** The Saudi-based Islamic Development Bank (IDB) plans to take at least a 10 percent stake in Turkey’s state-run stock exchange as the multilateral lender ramps up activities in the country, a senior official of the bank told Reuters.

** Pittsburgh-based PPG Industries dismissed proposals put forward by Dutch paintmaker Akzo Nobel to fend off its takeover bid and won support from activist hedge fund Elliott Advisors.

** British materials testing company Exova Group said UK-based Element Materials Technology would buy it in a deal valued at 620.3 million pounds ($795.3 million).

** Dutch eyeglass store operator Grandvision said it will acquire Tesco’s chain of more than 200 opticians.

** Lufthansa is in talks with Iran Air to provide catering, maintenance and pilot training as it seeks to take advantage of emerging business opportunities in the country, executives at the German airline group said.

** China Development Bank is considering providing financing for a Chinese consortium seeking to buy a stake in Russia’s largest gold producer Polyus , two sources familiar with discussions about the potential deal told Reuters.

** German automotive supplier Continental AG and a unit of China Unicom have agreed to set up a joint venture in China to offer intelligent transport systems, such as vehicle data services and connected vehicle software.

** Centurion Midstream Group LLC said it acquired a petroleum marketing and transportation business that operates in West Texas from Agave Energy Holdings, a subsidiary of Lucid Energy Group.

** India’s online grocery delivery service BigBasket and smaller rival Grofers India Pvt Ltd have begun talks on a possible merger, Indian newspaper Mint reported, citing sources.

** Sweden’s SCA has rejected a recent bid for its hygiene arm and an offer last year for its forestry business, Swedish daily Dagens Nyheter reported, citing sources.

** Top shareholder Invesco Perpetual has trimmed its stake in technology incubator Allied Minds for the second time in as many weeks, according to regulatory filings.

** An Italian regulator ordered French media group Vivendi on Tuesday to cut its stake in either Telecom Italia or broadcaster Mediaset within a year, ruling it was in breach of rules designed to prevent a concentration of power.

** Czech utility CEZ aims to sell all of its Bulgarian assets and has received expressions of interest mainly from investors in the Balkan country, a company official said.

** KAR Auction Services Inc, a provider of car auction and salvage services, said it would acquire DRIVIN, which aggregates automotive retail, pricing, registration and economic data to match vehicle inventory to dealer demand, for $43 million in stock.

** Renova Energia SA sold a wind farm project to a unit of AES Corp for 600 million reais ($193 million) on Tuesday, enabling the Brazilian renewable power company to replenish cash amid a severe cash crunch.

** Verizon Communications Inc has agreed to buy optical fiber from Corning Inc for at least $1.05 billion over the next three years as the No. 1 U.S. wireless carrier aims to improve its network infrastructure, the companies said on Tuesday.

** Shanghai-listed Shandong Tyan Home said its negotiations with Barrick Gold Corp to buy the Canadian operator’s 50-percent stake in Kalgoorlie mine have ended without a deal, citing new capital and acquisition rules in China.

** European Union antitrust regulators said they had cleared the acquisition of aircraft engine components maker ITP by Rolls-Royce subject to its elimination of a conflict of interest in an engine consortium.

** European Union antitrust regulators said they had cleared U.S. private equity firm Advent International’s planned acquisition of Morpho, the biometrics and security business of French aerospace group Safran.

** Abu Dhabi National Energy Company (TAQA) might sell some of its oil and gas interests in North America to raise capital for its core business, its chief operating officer told Reuters.

** Telecom Italia shareholders should not support board candidates proposed by Vivendi, two advisory firms said, potentially dealing a fresh blow to Vivendi chairman Vincent Bollore’s attempts to build a southern European media empire.

** BlackRock Inc Chief Executive Larry Fink, who runs the world’s largest asset manager, forecast a wave of mergers and acquisitions in asset management, but said his company may be limited for now to small deals.

** Mexican breadmaker Grupo Bimbo plans to grow in China in the short term with acquisitions, while also expanding its presence in the rest of Asia and entering Middle Eastern markets, the company’s food business chief said. (Compiled by Ahmed Farhatha and Divya Grover in Bengaluru)

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