September 24, 2015 / 8:04 PM / 2 years ago

Deals of the day- Mergers and acquisitions

(Adds A2A, CVC Capital, Schlumberger, Repsol, RioCan REIT; updates Raiffeisen Bank)

Sept 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Italy’s biggest regional utility A2A has presented a non-binding offer to buy 51 percent of smaller peer Linea Group Holding, the A2A chairman said.

** Private equity firm CVC Capital Partners plans to spend at least 100 million euros ($113 million) on another takeover in Poland next year after its purchase of an energy distributor, a top executive told Reuters.

** U.S. company Schlumberger said it does not intend to extend the pending agreement to acquire a minority equity interest in Eurasia Drilling once the current extension expires on Sept. 30.

** Spanish oil major Repsol is not studying any potential sale of part or all of its stake in Gas Natural , a spokesman said, denying press reports about such a possibility.

** Canada’s RioCan Real Estate Investment Trust will end a joint venture with Kimco Realty Corp and buy its stake in 22 Canadian properties for C$715 million ($533.7 million).

** Coca-Cola Co said its Coca-Cola Refreshments bottling unit was considering selling nine plants in the United States to three independent bottlers to reduce costs.

** Toshiba Corp said it would sell stakes of 5 percent each in two white goods manufacturing units to China’s Skyworth Digital Holdings, a move that comes amid a revamp of its operations in the wake of a $1.3 billion accounting scandal. The sale is part of broad agreement in which Toshiba will use the Chinese electronics maker and retailer’s local distribution network to sell refrigerators, washing machines and vacuum cleaners while winding down two China sales units.

** Hyundai Motor Co Vice Chairman and heir-apparent Chung Eui-sun bought shares worth about 500 billion won ($420 million) in a move that could help lay the groundwork for succession at the family-run South Korean automaker.

** Lockheed Martin Corp said that U.S. officials have approved its $9 billion takeover of Black Hawk helicopter maker Sikorsky Aircraft from United Technologies Corp.

** Hong Kong and Shanghai Banking Corp (HSBC) said it would sell up to 1 billion yuan ($156.7 million) of three-year, renminbi-denominated “panda bonds” in China’s interbank bond market on Sept. 29, the first foreign bank to issue such bonds in the country.

** Cisco Systems Inc said it would form a joint venture with Chinese server maker Inspur to sell networking and cloud computing products in China, where the Silicon Valley firm faces political pressure and declining sales. Cisco and Inspur said they would invest $100 million in the project.

** Siam Commercial Bank Pcl said it sold its stake in Siam Cement Pcl, raising 4.46 billion baht ($122.76 million) to help to cover provisions for loans to struggling steel firm Sahaviriya Steel Industries.

** British single price retailer Poundland launched on Thursday a 50 million pound ($76.3 million) share placement to fund its purchase of smaller rival 99p Stores and cautioned that first-half profit would fall short of last year’s level.

** Royal Bank of Scotland Group Plc said it was selling its Indian private banking unit to a company led by the head of the business, Shiv Gupta, as the British bank pulls back from some foreign markets to focus on UK retail and commercial banking.

** Austria’s Raiffeisen Bank International said on Thursday it had agreed to sell its Zuno Bank unit in the Czech Republic and Slovakia to the parent company of the Alfa Banking Group.

** Russia’s second-largest bank by assets VTB said it had canceled the merger of its subsidiary in Angola with Angola’s Banco Privado Atlantico.

** Hungary aims to sell a majority stake in loss-making lender MKB Bank by the end of the year after spinning off bad loan portfolios, central bank Deputy Governor Marton Nagy was quoted as saying on Thursday. (Compiled by Arunima Banerjee and Sruthi Shankar in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below