Deals of the day-Mergers and acquisitions

0
524

Jan 3 – The following bids, mergers, acquisitions and disposals were reported by 2135 GMT on Wednesday:

** Dominion Energy Inc said it would buy Scana Corp in an all-stock deal worth about $7.9 billion, offering the utility a way out of dealing with unhappy customers and federal investigations following a failed nuclear project.

** China’s ride-hailing application Didi Chuxing has agreed to acquire control of Brazil’s 99, the companies said in a statement, potentially creating a formidable rival to Uber in Latin America’s largest economy.

** Ant Financial’s plan to acquire U.S. money transfer company MoneyGram International Inc collapsed on Tuesday after a U.S. government panel rejected it over national security concerns, the most high-profile Chinese deal to be torpedoed under the administration of U.S. President Donald Trump.

** A German court is likely to decide on Thursday whether to reverse the insolvency filing of airline Niki, according to a statement from Berlin’s civil courts, which could derail the sale of the Air Berlin unit to Britain’s IAG.

** Britain’s Royal Bank of Scotland (RBS) has sold offshore loans held by its Lombard Finance subsidiary to specialist lenders Investec and Shawbrook Bank, an Investec spokesman said.

** Spectrum Brands Holding Inc said it is exploring strategic options, including a sale, for its unit that sells brands such as George Foreman cookware and Rayovac batteries.

** Canada Pension Plan Investment Board (CPPIB), Singapore wealth fund GIC and property owner Scion Group LLC said their student housing joint venture had bought 24 U.S. student housing properties for $1.1 billion.

** Nigeria has agreed a $550-million deal to buy two Chinese communications satellites and hopes to sign the contract before the end of the month, the communication minister said.

** The Czech National Bank has issued an initial decision to reject a request by Chinese investment group CEFC to raise its stake in Czech-based privately held J&T Finance Group (JTFG) to 50 percent from 9.9 percent, a source with knowledge of the process said.

** International and German investors have sued Deutsche Bank for 740 million euros ($890 million) in connection with the bank’s takeover of Postbank, their lawyer said.

** Collapsed German airline Air Berlin said it had sold its subsidiary Air Berlin Aviation GmbH to Thomas Cook Group Airlines Plc, continuing the carve-up of its business.

** Kenya’s telecoms regulator has ditched a proposal to break Safaricom up into separate telecoms and financial services businesses due to its dominant size, Kenya’s Business Daily newspaper said.

** Tie-up talks between Boeing Co and Embraer SA have not settled key questions such as control of the Brazilian planemaker or the possibility of a more narrow joint venture, two people familiar with the negotiations told Reuters, pushing back against a newspaper report.

** Fortuna Entertainment Group’s majority shareholder, Fortbet Holdings Limited, will launch an offer for the company at 182.50 crowns per share, the Czech betting company said.

** Qatar Re, a unit of Qatar Insurance, has agreed to buy UK motor insurer Markerstudy’s underwriting businesses for an undisclosed sum, Markerstudy said.

** Australia’s DuluxGroup Ltd said its majority-owned joint venture company DGL Camel International has agreed to sell most of its coatings business in Hong Kong and China to Yip’s Chemical Holdings Ltd.

LEAVE A REPLY

Please enter your comment!
Please enter your name here