August 14, 2018 / 10:17 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds VTB; updates Tesla, Perry Ellis)

Aug 14 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Russia’s second-largest lender VTB has agreed to buy a controlling stake in smaller rival Vozrozhdenie and plans to fully merge the two banks in 2020, state-run VTB said.

** Tesla Inc’s board named a special committee of three directors on Tuesday to evaluate possibly taking the electric carmaker private, although it said it had yet to see a firm offer from the company’s chief executive, Elon Musk.

** Apparel maker Perry Ellis International said it had ended talks to be bought by fashion accessories maker Randa, backing an offer by its second-largest shareholder and founder George Feldenkreis.

** Low-cost airline AirAsia Group Bhd sold its remaining 25 percent stake in its joint venture unit with travel platform Expedia Group Inc for $60 million, the companies.

** Rail logistics group VTG said Morgan Stanley Infrastructure should sweeten its takeover offer but added the suitor had not shown any willingness to do so.

** RWE AG is working on a solution involving all parties with regard to the potential sale of Innogy’s stake in a gas networks joint venture in the Czech Republic, finance chief Markus Krebber said.

** Private equity firm Bain Capital has agreed to buy esure for 1.21 billion pounds ($1.55 billion), in a deal that gives investors in the British insurer a 37 percent premium on the share price at the end of last week.

** Deutsche Wohnen has signed agreements to acquire 30 nursing properties with around 4,700 care places, the German company said.

** Chinese state-run oil and chemicals group Sinochem is in advanced talks to transfer its 33.6 percent stake in a debt-laden refinery to state giant PetroChina, part of Sinochem’s plan to shed non-core assets ahead of a $2 billion listing of its energy arm, people briefed on the matter said.

** Chinese property developer Greenland Holdings Corp said that it will purchase a 65 percent stake in government-owned Tianjin Construction Group for 1.49 billion yuan ($216.17 million) as part of state-owned enterprise reform.

** Chile’s SQM, one of the world’s largest lithium producers, said that it agreed to sell its 50 percent stake in the Cauchari-Olaroz project in Argentina to China’s Ganfeng Lithium for $87.5 million.

** California Water Service Group said it had increased its proposed offer to buy water utility SJW Group to $70 per share in cash from $68.25. (Compiled by Bharath Manjesh and Karan Nagarkatti 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