Deals of the day-Mergers and acquisitions

Colt CZ SE

30/11/2023 14:41

(Adds: AbbVie, General Atlantic, UltraTech Cement, Sev.en
Global Investments, Whirlpool; Updates: Budapest airport, Vista
Outdoor)
       Nov 30 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on
Thursday:

        ** Hungary's government expects the takeover of Budapest
airport to be completed "within weeks", Prime Minister Viktor
Orban's chief of staff told a briefing.
  
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    ** AbbVie  ABBV.N  said it will buy ImmunoGen  IMGN.O  for
$10.1 billion, underscoring a growing interest from large
drugmakers in a promising class of targeted cancer therapies.
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        ** U.S. private equity firm General Atlantic is weighing
joining co-shareholder Hg in selling its stake in Argus Media,
which could lead to 50% of the oil pricing data business being
sold, four people familiar with the matter told Reuters.
  
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        ** India's UltraTech Cement  ULTC.NS  said it will buy
the cement business of Kesoram Industries  KSRM.NS  in an
all-stock deal valued at 53.79 billion rupees ($645.41 million),
in a move to add heft to its hold in the southern part of the
country.
  
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        ** Czech privately-held Sev.en Global Investments  said
it will buy a majority stake in a large coal-fired plant in
Vietnam from U.S. energy firm AES Corp  AES.N .
  
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        ** Whirlpool  WHR.N  will sell up to 24% of its stake in
the company's India business in a bid to reduce debt, weeks
after the unit reported weaker profit due to rising competition
and pricing pressures.
  
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        ** U.S. sporting and outdoor products group Vista
Outdoor's  VSTO.N  has rejected a cash-and-stock merger offer
from Czech gunmaker Colt CZ Group  CZG.PR , saying it
undervalued the company and was not better for shareholders than
a rival bid.
  
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    ** Lufthansa  LHAG.DE  and the Italian state airline ITA
Airways could give up take-off and landing slots at Milan-Linate
airport to try and win approval for their merger from the
European Union's competition authority, three sources told
Reuters.
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    ** Crisis-hit Swedish streaming group Viaplay  VPLAYb.ST 
said it has agreed to sell Premier Sports in Britain to SSBL,
from which it bought the TV channel last year.
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    ** BP  BP.L  has agreed to take full ownership of
Lightsource BP, buying the remaining 50% stake in its solar
power joint venture as part of the British oil giant's drive to
build up its renewable energy capacity.
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    ** Japanese retail conglomerate Seven & i Holdings  3382.T 
said  it has agreed to purchase the 7-Eleven convenience store
chain in Australia for A$1.71 billion ($1.1 billion), further
expanding its ownership of the brand.
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    ** JPMorgan bought a 10.6% stake in Spanish defence systems
maker Indra  IDR.MC , the stock market regulator said .
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    ** Occidental Petroleum  OXY.N  is one of the finalists in
the auction for CrownRock, an energy producer in the west Texas
area of the Permian basin, with a bid of more than $10 billion,
a person familiar with the matter told Reuters.
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    ** Origin Energy  ORG.AX  rejected a "complex" $10.6 billion
back-up offer by a Brookfield-led consortium to buy out the firm
but recommended investors agree to the group's existing bid.
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    ** Discover Financial Services  DFS.N  said it was exploring
the sale of its students loan portfolio.
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    ** Banijay, the French TV production group owned by FL
Entertainment  FLE.AS , has submitted a binding offer for
British rival All3Media, three people familiar with the matter
told Reuters.
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 (Compiled by Rajarshi Roy and Granth Vanaik in Bengaluru)
 ((Granth.Vanaik@thomsonreuters.com))