January 29, 2019 / 2:44 PM / 6 months ago

Deals of the day-Mergers and acquisitions

(Adds Taptica International, ScS Group; Updates Brasil SA, Scor, Abu Dhabi National Oil Company)

Jan 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Video advertising company Taptica International is in talks over a takeover of rival RhythmOne in a potential 260 million pound ($342 million) all-share deal that could be announced as early as this week, Sky News reported.

** British sofa and carpet retailer ScS Group said it was in talks for a potential deal to buy Sofa.com Ltd.

** A consortium building Turkey’s Gebze-Orhangazi-Izmir motorway has started seeking international advisers to value the project ahead of a possible stake sale, Otoyol Investment company said.

** The South African government will soon debate whether to split up state power firm Eskom to make it financially viable, Public Enterprises Minister Pravin Gordhan said.

** State-controlled lender Banco do Brasil SA will seek the partial sale of its asset management, investment banking and debt collector units, said Chief Financial Officer Carlos Hamilton Vasconcelos Araújo in a conference with investors.

** Irish budget airline Ryanair said it has acquired the remaining quarter of its Austrian unit Laudamotion for an undisclosed price.

** French reinsurer Scor is suing rival Covea and its chief executive for breach of trust after Covea announced it had abandoned plans for a friendly takeover of Scor.

** South Korea’s top chat app operator Kakao Corp is reviewing a bid for the holding company that controls South Korean gaming company Nexon, a company spokesman told Reuters.

** Abu Dhabi’s $5.8 billion stake sale provides a three-way hedge. Like most of its regional neighbours, the emirate is heavily reliant on oil revenue. Selling a stake in the Abu Dhabi National Oil Company’s refining arm is a way to reduce that dependency, but it also helps buyers Eni and OMV to address their own strategic challenges.

** New Italian bank Illimity is interested in troubled construction group Condotte, Chief Executive Corrado Passera said.

** Irish budget airline Ryanair has acquired the remaining quarter of its unit Laudamotion, the Vienna-based airline said.

** Norwegian Air plans to raise 3 billion Norwegian crowns ($353 million) in a share sale to strengthen its finances, days after British Airways owner IAG ICAG.L ruled out a bid for the loss-making budget airline.

** Russian businessman Oleg Deripaska has reduced his stake in En+ Group to 44.95 percent from around 70 percent, the company said after the United States lifted sanctions on it and some other Russian firms linked to Deripaska.

** Sweden’s Loomis has agreed to buy German cash handling services firm Ziemann Sicherheit Holding at an enterprise value of approximately 160 million euros ($183 million), Loomis said.

** French car parts company Faurecia said it would launch on Jan. 30 its tender offer to buy out Japanese car navigation system maker Clarion as part of its previously announced $1.3 billion takeover of Clarion from Hitachi.

** China’s HBIS Group will buy Tata Steel’s production assets in Southeast Asia, its latest move to expand its overseas steelmaking capacity after an investment in the Philippines in December.

** Two U.S. House panels will hold a joint hearing on Feb. 13 on T-Mobile US Inc and Sprint Corp’s proposed $26 billion merger and its potential impact on consumers.

** Sweden’s Loomis has agreed to buy German cash handling services firm Ziemann Sicherheit Holding at an enterprise value of approximately 160 million euros ($183 million), Loomis said.

** State Bank of India, a lender to Jet Airways , is likely to own 15 percent of the cash-strapped carrier after the airline gets consent for a debt to equity swap, TV channels reported citing agencies.

** Thermo Fisher Scientific Inc, the world’s largest maker of scientific instruments, will sell its anatomical pathology business for $1.14 billion in cash, the company said.

** Sempra Energy plans to sell its South American operations as it increases investments at its dominant North American business, the U.S. utility said.

** Israeli defence contractor Elbit Systems said it expects to post an expense of $65-$75 million in the fourth quarter related to its purchase of state-owned rival IMI Systems late last year.

** Chevron Corp has agreed to buy a Texas oil refinery with a troubled past and space to handle a coming flow of shale from its West Texas operations, two sources familiar with negotiations said.

Compiled by Uday Sampath and Bharath Manjesh in Bengaluru

Nuestros Estándares:Los principios Thomson Reuters
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