Deals of the day-Mergers and acquisitions

Aster DM Quality Care

29/11/2023 10:44

Nov 29 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1030 GMT on
Wednesday:
    
    ** Toyota  7203.T  and two affiliates will divest at least
8% of supplier Denso  6902.T , the companies said, a $4 billion
deal that sparked investor hopes the world's top-selling
automaker will shed more of its numerous cross-shareholdings.
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    ** Malaysian telecommunications and digital conglomerate
Axiata Group  AXIA.KL  said it had decided to exit Nepal and
reclassify its mobile service unit Ncell in the country as an
asset held for sale.
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    ** Gabon's national oil firm is seeking to use its right of
first refusal to acquire Carlyle's  CG.O  Assala Energy after
the private equity giant agreed to sell the business for $1.3
billion to France's Maurel & Prom, three sources told Reuters.
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    ** Saudi Arabian Prince Alwaleed Bin Talal's investment
company Kingdom Holding  4280.SE  said it raised its ownership
in Citigroup  C.N  to 2.2% after acquiring from the prince a
stake in the bank worth about $450 million.
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    ** French oil and gas company TotalEnergies said it had
bought a minority stake in the Xlinks Morocco-UK Power Project,
a move it said would help the company achieve its targets in the
coming year.
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    ** South Africa's Exxaro Resources  EXXJ.J  said it planned
to sell its ferroalloys unit to a Black-owned business by the
end of June 2024.
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    ** Chinese payments group Alipay launched a $400 million
accelerated bookbuild to sell its stake in Indian food delivery
giant Zomato  ZOMT.NS , according to the deal's term sheet.
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    ** Infrastructure giant Ferrovial  FERF.AS  has reached an
agreement with two different buyers to sell its entire 25% stake
in Britain's busiest airport, Heathrow, for 2.37 billion pounds
($3.01 billion), the company said in a statement on Tuesday.
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    ** Brazilian fuel distributor Vibra  VBBR3.SA  on Tuesday
rejected the merger proposal it received from energy firm Eneva
 ENEV3.SA , saying the exchange ratio of the offer was
"unjustifiable," while leaving the door open for new offers.
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 (Compiled by Rajarshi Roy and Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com;))