May 18, 2020 / 8:12 PM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds Tianqi Lithium Corp, Eneva SA, Cattolica Assicurazioni, FAB; Updates Total, Thyssenkrupp)

May 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** First Abu Dhabi Bank (FAB) said it mutually agreed with Lebanon’s Bank Audi to stop the potential acquisition of its Egypt business, according to a statement.

** Brazilian power company Eneva SA is not planning a new bid for a merger with rival AES Tiete SA , Eneva’s chief executive told analysts, although it is still eyeing acquisition opportunities.

** Italian insurer Cattolica Assicurazioni could expand an insurance partnership with bank Banco BPM, while the fate of a similar joint venture with rival UBI is still unclear, the company’s CFO said.

** China’s Tianqi Lithium Corp, one of the world’s biggest lithium producers, said its controlling shareholder planned to sell around a sixth of its holding, which could raise more than $200 million in much-needed cash.

** U.S. life science tools company Thermo Fisher launched its agreed $11.5 billion takeover offer for Qiagen , calling on investors of the German genetic testing specialist to tender their shares.

** Thyssenkrupp said it would pool units that it plans to sell or shut down while singling out three businesses that will definitely stay within the group: materials services, industrial components and car parts.

** French energy group Total said it had agreed to buy up a large customer portfolio from Energías de Portugal and two of EDP’s gas-fired combined cycle power plants in Spain, making it a leading player in the Iberian market.

** Total has called off a plan to acquire Occidental Petroleum’s assets in Ghana, which was conditional on the completion of the acquisition of Occidental’s other assets in Algeria, the French energy company said.

** SoftBank Group Corp is in talks to sell “a significant portion” of its T-Mobile US stake to controlling shareholder Deutsche Telekom AG, the Wall Street Journal reported, citing unidentified sources.

** Virgin Australia Holdings Ltd’s administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said.

** Australia’s Village Roadshow Ltd said it had granted private equity firm BGH Capital exclusive access to its books, even after the suitor cut its bid by 40% and made it conditional on Village re-opening its theme parks and cinemas.

** U.S. Senator Amy Klobuchar on Sunday blasted merger talks between ride-hailing firm Uber Technologies Inc and online food delivery company Grubhub Inc, calling any deal bad for competition and consumers.

** First Abu Dhabi Bank (FAB) has put on hold discussions to acquire the Egyptian assets of Lebanon’s Bank Audi due to difficult market conditions, two sources told Reuters. (Compiled by Shanti S Nair and C Nivedita in Bengaluru)

Nuestros Estándares:Los principios Thomson Reuters
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