July 19, 2018 / 10:09 AM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds Sinclair Broadcast, Fiat Chrysler, Enel SpA, Rio Tinto, Modern Times Group, EFG Hermes, Mediaset; Updates Comcast)

July 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Sinclair Broadcast Group Inc “did not fully disclose facts” about aspects of its $3.9 billion acquisition of Tribune Media, the U.S. Federal Communications Commission said in an order released that referred the issue to an administrative law judge for a hearing.

** Fiat Chrysler (FCA) has kicked off its planned spin-off of parts maker Magneti Marelli which will be registered in the Netherlands and listed on the Milan stock exchange, a document outlining initial plans and seen by Reuters showed.

** Shares in Rio de Janeiro electricity distributor Light SA rose over 12 percent on the Brazilian stock exchange after the chief executive officer of Italy’s Enel SpA signaled the utility’s interest in possibly acquiring the company.

** Guinea is in constant talks with Rio Tinto and Chinalco to finalise a deal on selling two blocks of the vast Simandou iron ore project, its mining minister said, adding he was confident an agreement would be reached.

** Bulgaria’s anti-monopoly regulator said it had blocked the sale of the Modern Times Group’s Bulgarian Nova Broadcasting media group to the Czech Republic-based investment company PPF Group.

** Egyptian investment bank EFG Hermes said it will acquire Nigerian broker Primera Africa as it pushes to expand its capital market business across frontier markets.

** A joint takeover by Italian infrastructure fund F2i and broadcaster Mediaset of masts group EI Towers will pave the way for a merger with rival Rai Way, a source directly involved in the takeover said.

** Comcast Corp dropped its $66 billion bid for Twenty-First Century Fox Inc’s entertainment assets but said it would still try to expand its international footprint by acquiring 61 percent of European broadcaster Sky Plc, the remainder of which is owned by Fox.

** Danaher Corp said it would spin off its dental unit into a publicly traded company, as the medical equipment maker seeks to revitalize a struggling business.

** Japan’s Asahi Kasei Corp said it would buy U.S. car interior maker Sage Automotive Interiors for $1.06 billion, including debt.

** A unit of Hong Kong-based developer Wheelock and Co Ltd said it had launched an offer for all the shares of Singapore-listed subsidiary Wheelock Properties Singapore Ltd at S$2.10 each.

** Chinese e-commerce giant Alibaba Group Holding Ltd on Wednesday said it has agreed to acquire a minority stake in China’s Focus Media Information Technology Co Ltd to tap into the digital marketing sector.

** Saudi Aramco said it is looking to buy a strategic stake in Saudi petrochemical maker SABIC, a move that could boost the state oil giant’s market valuation ahead of a planned initial public offering.

** Brazilian investment firm Tempo Capital has filed a complaint with the country’s securities regulator CVM over the acquisition of Fibria Celulose SA by Suzano Papel e Celulose SA, the online edition of newspaper Valor Economico said on Wednesday.

** Innogy said it has reached two legally binding agreements with E.ON and RWE for a fair integration process and supported its planned break-up, clearing the way for the complex deal to progress.

** Tabcorp Holdings said it would pay News UK 39.5 million pounds ($51.4 million) to exit their struggling Sun Bets gaming joint venture.

** UK-based fuels supplier Greenergy said it has reached an agreement with Oiltanking to acquire an idle biodiesel plant in Amsterdam which it plans to convert to make the renewable fuel from waste oils.

** Banco Sabadell is close to selling two real estate loan portfolios with a gross value of 3.3 billion euros ($3.8 billion), a source with knowledge of the matter said, after it sold two portfolios to Cerberus.

** Italy’s Enel SpA eyes more three electricity distributors in Brazil after acquiring a major stake in power company Eletropaulo Metropolitana Eletricidade de Sao Paulo SA , Chief Executive Francesco Starace said in an interview with newspaper Valor Econômico.

** Finnish elevator-maker Kone is interested in industry consolidation, its chief executive said when asked about a report on M&A talks between Kone and Germanyæs Thyssenkrupp.

** Bulgaria’s anti-monopoly regulator said it has blocked the sale of the Bulgarian assets of Czech utility CEZ to local solar energy producer Inercom.

** French aerospace and defence group Thales’ 4.8-billion-euro ($5.6 billion) plan to acquire chipmaker Gemalto to become a top-three global player in digital security faces a full-scale EU probe, two people familiar with the matter said.

** Brazil’s centrist Social Democratic Party (PSDB) presidential candidate Geraldo Alckmin said that he intends to put more assets of state-controlled oil company Petroleo Brasileiro SA up for sale if elected.

** State-owned Saudi Arabian Military Industries (SAMI) signed an agreement with Spain’s Navantia to set up a joint venture in the kingdom to build five warships, the state news agency SPA reported. (Compiled by Arunima Banerjee and Aakash Jagadeesh Babu in Bengaluru)

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