June 23, 2017 / 8:06 PM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds CIBC, Tata Steel, Forestar, Glencore, Rosneft, Sanlam, Capita; Updates Toshiba)

June 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Miner and trader Glencore hit back with an increased offer of $2.675 billion in cash to buy Australian coal assets from Rio Tinto, that earlier this week said it was favouring a Chinese bid.

** Outsourcer Capita said it would sell its asset management services arm to Australian financial services firm Link Administration Holdings for 888 million pounds ($1.13 billion).

** A Chinese consortium and two private equity firms are likely to submit bids next week to buy Singapore-listed warehouse operator Global Logistics Properties Ltd, people with direct knowledge of the matter said.

** Spanish builder OHL said it was looking to sell between 25 percent and 40 percent of its concessions affiliate in an effort to find the unit a partner by the end of the year.

** Creditor banks to India’s Essar Oil approved the acquisition of the company by a group including Russia’s Rosneft , two sources familiar with the matter said, removing a key hurdle to the $12.9 billion deal that has been in the works for two years.

** Toshiba Corp said it was open to talks with Western Digital Corp in their dispute over the sale of the Japanese conglomerate’s prized chip unit - an apparent olive branch after it chose another suitor as preferred bidder.

** Ireland raised 3 billion euros ($3.4 billion) by selling a quarter of Allied Irish Banks in a remarkable turnaround for a company at the forefront of reckless lending during the “Celtic Tiger” boom.

** Tata Steel Ltd said it sold its stake in Tata Motors Ltd to Tata Sons, the holding company of India’s salt-to-software Tata conglomerate, for 37.83 billion rupees ($586.3 million).

** Forestar Group Inc said top U.S. homebuilder D.R. Horton Inc had sweetened its offer to buy a 75 percent stake in the real estate developer, escalating a bidding war with investment firm Starwood Capital Group.

** Canadian Imperial Bank of Commerce has completed the $5 billion acquisition of Chicago-based PrivateBancorp , which will help it diversify from its domestic market, it said.

** South Africa’s largest insurer Sanlam Ltd has sold its stake in Ghanaian holding company Enterprise Group’s insurance business for $130 million but will retain a presence in the country, Sanlam said.

** Russia’s largest oil producer Rosneft is considering selling a stake in its retail business, which it had decided to spin off, a source at the company said. (Compiled by John Benny and Arunima Banerjee in Bengaluru)

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