April 26, 2019 / 8:00 PM / 6 months ago

Deals of the day-Mergers and acquisitions

(Adds LetterOne, Intel, CVC Capital Partners; Updates Renault, Kosaido Co)

April 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Russian tycoon Mikhail Fridman’s LetterOne (L1) fund said it would seek to reduce the minimum acceptance offer for its bid for Spanish supermarket chain Dia.

** Intel Corp is exploring strategic options for its modem chip business, including a possible sale to Apple or another acquirer, the Wall Street Journal reported, citing people familiar with the matter.

** Private equity firm CVC Capital Partners is in talks with potential bidders about a possible sale of its Continental Foods business, which could be worth as much as 1 billion euros ($1.12 billion), five sources familiar with the matter said.

** Roche announced another extension of its $4.3 billion offer for gene therapy specialist Spark Therapeutics , this time until June 3, saying a review by U.S. authorities is taking longer than originally expected.

** Renault will propose a plan to create a joint holding company that would give the French carmaker and Japanese partner Nissan equal footing, the Nikkei newspaper reported.

** Brazilian cosmetics firm Natura Cosmeticos SA on Thursday said in a statement that it is still in talks to buy Avon Products Inc, the company that controls Avon’s operations outside North America.

** Australian miner Aurelia Metals Ltd said it was in talks about a possible acquisition of Glencore’s CSA copper mine in the state of New South Wales.

** The European Commission extended the deadline for reviewing the planned joint venture deal between ThyssenKrupp and Tata Steel by 7 working days until June 17, its website showed.

** Canada’s Saputo Inc has purchased the Australian cheese business of Japan’s Kirin Holdings for about 20 billion yen ($179 million), the Nikkei reported, citing anonymous sources.

** Belgium’s Recticel rejected a 700 million euro bid from Ireland’s Kingspan for its insulation and flexible foams units but said it was open to a takeover at the right price.

** Investment vehicle Piolin BidCo said it has launched a takeover bid for Spain’s Parques Reunidos for 14 euros ($15.59) per share, including a premium of 29 percent, valuing the company at around 1.13 billion euros.

** Getin Noble Bank has not yet received any takeover bids, but some selected funds have been admitted to carry out due diligence on the bank, the company’s investor relations chief said.

** Veteran Japanese activist shareholder Yoshiaki Murakami scored another success in his bid for a little-known printing company, Kosaido Co, after management said it would not oppose his offer for at least half of the firm.

** A spokeswoman for the German government declined to comment on whether Berlin would be prepared to see a foreign lender invest in Commerzbank after the failure of talks on a tie-up with Deutsche Bank.

** An agreement has been signed on the sale of Turkish paint manufacturer Betek Boya to Japan’s Nippon Paint Holdings Co. , financial services firm Unlu & Co said.

** Irish insulation firm Kingspan has ended discussions with Recticel over a bid for its Belgian rival’s foam and insulation units and has no plans to reengage, a source close to the process said.

** Large wind turbine companies and private equity firms are interested in buying insolvent German group Senvion, Chief Executive Yves Rannou told Reuters in an interview. (Compiled by Manojna Maddipatla in Bengaluru)

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