February 11, 2020 / 11:11 AM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds T-Mobile, Sberbank, Sacyr, Air Italy and PepsiCo)

Feb 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday: ** South Africa’s Competition Commission conditionally approved PepsiCo Inc’s $1.7 billion takeover of food and drinks producer Pioneer Food Group Ltd, saying it is unlikely to lessen competition in relevant markets. ** Air Italy’s investors agreed to place the struggling Italian carrier into liquidation, the airline said citing “persistent and structural market problems”. ** Spanish construction company Sacyr has agreed to sell a 47.5% stake in Autopista del Guadalmedina, an Andalusian highway it operates, to Paris-based asset manager Mirova, Sacyr told Spain’s market regulator in a filing.

** The Russian government plans to complete its purchase of the central bank’s stake in Sberbank, the country’s largest lender, by mid-2021, a source close to the talks told Reuters.

** T-Mobile US Inc edged closer to a takeover of Sprint Corp after a federal judge approved the deal, rejecting a claim by a group of states that said the proposed transaction would violate antitrust laws and raise prices. ** Sensor maker AMS could launch a planned 1.65 billion euro ($1.8 billion) rights issue as early as this month to help fund its takeover of German lighting group Osram, the Austrian company said. ** A U.S. district judge is expected to rule in favor of allowing Sprint and T-Mobile US to merge over the objections of a group of state attorneys general, according to two sources familiar with the matter. ** UK sportswear retailer JD Sports may have to sell Footasylum if it does not address competition concerns about last year’s acquisition of its smaller rival, Britain’s competition watchdog said after an in-depth review of the takeover. ** Geely Automobile and its sister company Volvo Cars are planning to merge and list in Hong Kong and possibly Stockholm, giving Volvo access to public markets after it dropped a move to list its stock two years ago. ** Finnish media group Sanoma Oyj is buying rival Alma Media’s regional news media business in a 115-million-euro deal ($125 million), it said, putting the country’s two largest daily newspapers in the hands of the same owner. ** German wholesaler Metro AG said it has reached a deal with a consortium consisting of property investors X+Bricks and the SCP Group for the sale of its struggling Real hypermarkets unit. ** South Africa’s Harmony Gold Mining reported a rebound in interim profits on Tuesday on the back of rising gold prices and said it was looking for acquisitions in its home market, elsewhere in Africa and Papua New Guinea. ** Bankers in Asia are bracing for a deal drought as efforts to limit the spread of the coronavirus epidemic have put key meetings and roadshows on hold. ** Czech defence technology group Omnipol is in talks to buy aircraft manufacturer Aero Vodochody from investment group Penta, Omnipol’s biggest shareholder told the daily Hospodarske Noviny. ** Carrefour Brasil said in a filing on Monday it is in talks to acquire stores operated by rival retail chain Makro. (Compiled by Mrinalika Roy and Sanjana Shivdas in Bengaluru)

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