Company News

Deals of the day-Mergers and acquisitions

(Adds BASF, Apollo Global Management and Transat A.T. Inc)

Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Thursday:

** Germany’s BASF said it agreed to sell its global pigments business to Japanese fine chemical company DIC for 1.15 billion euros ($1.28 billion) on a cash and debt-free basis.

** Apollo Global Management and Athene Holding said they would buy PK AirFinance, an aircraft lending business that is a part of GE Capital’s aviation services unit for an undisclosed amount.

** Canadian tour operator Transat A.T. Inc said on Thursday that the Superior Court of Quebec had approved its sale to Air Canada in a C$720 million ($542.37 million) deal.

** Sony Corp said it would sell its 5% stake in Olympus Corp back to the Japanese endoscope maker for 80.4 billion yen ($762.88 million), a move that was called for by Daniel Loeb’s activist hedge fund Third Point LLC.

** Struggling football pitch operator Goals Soccer Centres Plc said it has started a process to invite bids for its business and assets, just weeks after it disclosed accounting issues stretching back to almost a decade.

** German chemicals group BASF said it agreed to sell its pigments business to Japanese printing ink maker DIC corp for 1.15 billion euros ($1.28 billion) on a cash and debt-free basis.

** Malaysia’s Axiata Group Bhd said its planned merger with Norwegian telecoms peer Telenor ASA is on track, after local media reported the deal may have hit a snag.

** Australia’s Crown Resorts said it had been informed that a planned $1.2 billion stake sale by casino mogul James Packer to Melco Resorts & Entertainment had been delayed. (Compiled by Vibhuti Sharma in Bengaluru)