July 5, 2019 / 10:50 AM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds Power Resources Group; Updates Flybe)

July 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Mining company Power Resources Group said it was buying Metalysis, a British high-tech specialist which was backed by asset manager Neil Woodford, out of administration. ** European Union antitrust regulators cleared the $2.8 million acquisition of British airline Flybe by Connect Airways, a consortium created by Virgin Atlantic, Stobart Group and investment adviser Cyrus Capital.

** Aquis Exchange moved to create a pan-European listings venue by buying British growth stocks platform NEX Exchange from CME Group for a nominal one pound.

** Deutsche Bank said its investment bank head agreed to step down in a sign of the division’s waning influence as Germany’s largest lender readies a multi-billion dollar restructuring aimed at reversing a decline in its fortunes.

** Private equity-backed oil and gas producer Siccar Point is testing the waters for its potential sale later this year, hoping to attract interest for its mostly untapped North Sea resources, industry and banking sources said.

** German lighting group Osram will not change its strategy if shareholders reject a private equity takeover bid that the company’s management supports, its CEO said.

** Finland’s Neste has agreed to sell its 75 fuel stations and a terminal in the St. Petersburg region in Russia to PJSC Tatneft, the two companies said, without disclosing the value of the deal.

** India’s state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) has made its first purchase of U.S.-produced Thunder Horse crude oil via a tender for mid-October delivery, its managing director M. Venkatesh said.

** Italian broadcaster Mediaset kept its door open to a possible merger with German equity partner ProSiebenSat.1 Media but said the Italian group’s plan to create a pan-European media alliance took priority.

** The head of French state holding APE said he was “not aware” of any new discussions between Renault and Fiat Chrysler over a future alliance.

** Israel-focused Energean has agreed to buy the oil and gas division of Italian energy company Edison for up to $850 million.

** Private shareholders in Sainsbury’s berated the board of the British supermarket chain at its annual meeting over its failed takeover of rival Asda, as well as a share price slump and what it pays its boss.

** Real estate developer Group Mach Inc has dropped its C$528 million ($405 million) takeover proposal for Transat AT Inc after the Canadian tour operator accepted a lower offer from Air Canada last week.

** Emirates Global Aluminium (EGA), one of the largest industrial firms in the United Arab Emirates, has expressed interest in Bosnia’s debt-laden aluminum smelter Aluminij Mostar, Bosnia’s regional energy and mining minister said.

** Poland’s biggest oil refiner PKN Orlen is expected to face a full-scale EU antitrust investigation into its planned takeover of rival Lotos and may even face a veto due to their combined market share, people familiar with the matter said.

** Car parts maker Bosch is in advanced talks to sell its packaging machinery business to buyout firm CVC in a deal valuing the company at up to 850 million euros ($959 million), a person close to the matter said.

** Italian premium coffee maker illycaffe is open to a strategic partnership to help accelerate the growth of its retail network and could consider selling a minority stake for the first time in its 86-year history, Chairman Andrea Illy told Reuters.

** An Indian court rejected a petition challenging ArcelorMittal SA’s proposed takeover of debt-ridden Essar Steel, removing a hurdle in billionaire Lakshmi Mittal’s entry into the country’s fast-growing steel market.

** A consortium consisting of property investor X+Bricks and SCP Group said that it had made a beefed-up offer to Metro to acquire the German wholesaler’s loss-making Real hypermarkets division.

** U.S. aluminum producer Novelis has no plans for now to offer concessions despite EU antitrust objections over its $2.6 billion buy of processor Aleris, people close to the situation said.

** Spanish-language broadcaster Univision Communications Inc is exploring a possible sale and has hired advisers, according to two sources familiar with the matter.

** Australia’s Aveo Group revealed it had received a takeover offer from Canada’s Brookfield Asset Management Inc for the A$1.2 billion ($844.4 million) retirement-home operator, ending weeks of speculation. (Compiled by Sayanti Chakraborty and Arundhati Sarkar in Bengaluru)

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