May 25, 2017 / 8:02 PM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Rayonier, Grupo Bimbo and Saudi Telecom; updates TFG)

May 25 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** U.S. oil and gas producer EP Energy Corp and refiner Tesoro Corp on Wednesday announced a joint venture to drill 60 wells in the Uinta basin in Utah.

** Shares in Brazil’s Alpargatas SA, the maker of Havaianas flip flops, gained on Wednesday, bolstered by reports from Reuters and elsewhere it was among assets that scandal-hit parent company J&F Investimentos SA had considered selling.

** JBS SA’s controlling shareholder, J&F Investimentos, proposed paying a 4-billion reais ($1.22 billion) fine as part of a leniency deal to settle Brazilian bribery and corruption charges, but the offer was rejected, a representative of the public prosecutors’ office said on Wednesday.

** Brown-Forman Corp, the maker of Jack Daniel’s whiskey, said on Wednesday it was not for sale, following a media report that Corona beer maker Constellation Brands had offered to buy the company.

** ChemChina has raised $20 billion mainly in perpetual bonds to finance its purchase of Swiss seeds firm Syngenta , with Bank of China becoming the single largest investor providing half of that funding, according to a regulatory filing.

** Shares of Bunge Ltd scaled to a 22-month peak on Wednesday after merger overtures by Glencore Plc’s agriculture unit whetted investors’ appetite for consolidation in the commodities sector.

** A Chinese consortium is buying Ansell Ltd’s condom division, the world’s no. 2 condom maker, for $600 million, betting on surging demand in China as sex becomes less of a taboo subject and more emphasis is placed on public health education.

** Aviva is to buy back up to 300 million pounds ($389.55 million) of its own shares, the insurer said.

** Rayonier Advanced Materials said it would buy Canada’s Tembec Inc for $807 million including debt to expand its business into packaging and forest products.

** South Africa’s clothing and homeware retailer TFG said it would buy menswear chain Retail Apparel Group (RAG), part of its bid to expand in developed markets with a deal that brings more than 400 shops in Australia.

** Saudi Telecom Co’s new $500 million venture capital fund expects to complete its first transaction by the fourth quarter of this year, the fund’s chief executive said at its launch in Riyadh.

** Mexican breadmaker Grupo Bimbo said it has entered the Indian market through a joint venture to acquire 65 percent of shares in Indian’s Ready Roti India Private Limited.

** General Electric’s joint venture to manufacture gas turbines in Saudi Arabia will start production by the end of the year, the chief executive of Dussur, its state-backed Saudi partner, said.

** The founding family of Turkey’s largest conglomerate, Koc Holding, is selling shares worth nearly $480 million in the firm, according to a statement filed to the Istanbul Stock Exchange.

** Retail tycoon Philip Green’s Arcadia Group Ltd is in preliminary talks to take control of its troubled Australian franchise partner for his Topshop brand, a representative for the Australian firm said.

** Highly-valued security firm Tanium Inc is allowing its co-founder, employees and some early investors to sell $100 million of stock to private equity and venture funds in a secondary sale that eases internal pressure for a public offering.

** Shenzhen Investment Ltd said it would sell four property and hotel assets to China Evergrande Group for 5.42 billion yuan ($788 million), walking away from projects in third and fourth-tier cities to enhance its financial position.

** The founding families of Turkey’s two largest conglomerates, Koc Holding and Sabanci Holding, have agreed to sell a combined $580 million in shares of their firms, capitalizing on a global stock market rally that has pushed Istanbul shares to record highs. (Compiled by Gayathree Ganesan in Bengaluru)

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