Company News

Deals of the day-Mergers and acquisitions

(Adds Assa Abloy, Thyssenkrupp, Bumrungrad Hospital, Central European Media Enterprises, Hudson’s Bay, AJN Resources)

Feb 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** World No. 1 lock maker Assa Abloy on Thursday gained EU antitrust approval to increase its stake in Swiss door maker agta record after agreeing to sell assets and supply spare parts on fair terms for at least 10 years.

** Thyssenkrupp said on Thursday it agreed to sell its elevators division to a consortium of Advent, Cinven and Germany’s RAG foundation for 17.2 billion euros ($18.7 billion) in what could be the world’s largest buyout this year.

** Thailand’s largest hospital operator Bangkok Dusit Medical Services Pcl (BDMS) said on Thursday it planned to make an offer worth up to 102 billion baht ($3.2 billion) for the shares in Bumrungrad Hospital it does not already own.

** Shareholders of Central European Media Enterprises (CME) approved on Thursday the acquisition of the company by Czech investment group PPF, although a U.S. senator has asked authorities to review the deal.

** Saks Fifth Avenue owner Hudson’s Bay Co said on Thursday it won shareholders’ approval to take the Canadian department store operator private by chairman Richard Baker.

** Shares in junior miner AJN Resources tumbled after Reuters reported Barrick Gold the operator of Congo’s biggest gold mine, issued a cease-and-desist notice to block AJN’s acquisition of a 10% stake in the mine which it says the deal undervalues.

** Renault informed French unions that it planned to sell 10 car dealerships in France, as well as the building housing one of its division’s headquarters, the Force Ouvriere (FO) union said in a statement.

** Japanese road builder Maeda Road Construction, a target of a rare hostile bid by its largest shareholder, will start talks with a rival, Nippo Ltd, about holding stakes in each other, the targeted firm said.

** British retailer Tesco has asked bidders to submit binding offers for its Asian business by Friday, in a deal that will see Thai billionaires fight for an asset valued at up to $9 billion, sources with direct knowledge of the matter said.

** Utility operator NiSource Inc on Wednesday agreed to sell its Massachusetts operations to Eversource Energy for $1.1 billion after striking a deal with prosecutors to resolve a probe into catastrophic gas explosions there in 2018. (Compiled by Dania Nadeem and Trisha Roy in Bengaluru)