Deals of the day-Mergers and acquisitions

De La Rue

15/10/2024 21:02

(Adds EDP, Fertiglobe, Opella, Credit Agricole and Frontier
Communications)
       Oct 15 (Reuters) - The following bids, mergers,
acquisitions, and disposals were reported by 2000 GMT on
Tuesday:
    
    ** Some of Frontier Communications'  FYBR.O  largest
shareholders are concerned about its planned $9.6 billion
takeover by Verizon Communications  VZ.N , with its
second-largest investor planning to vote against the deal, three
sources familiar with the firm's plans said.  urn:newsml:reuters.com:*:nL1N3LQ0WY
        
  
    ** Credit Agricole  CAGR.PA  is planning to buy a 50% stake
in the leasing unit of Chinese carmaker Guangzhou Automobile
Group 601238.SS (GAC) as part of a broader deal that makes the
French bank a partner of GAC to finance its car sales in Europe.
 urn:newsml:reuters.com:*:nL1N3LR0TH 
        
  
    ** France is considering taking a stake in Sanofi's
 SASY.PA  Opella arm, said finance minister Antoine Armand, to
allay concerns that the French drugmaker's plans to sell a 50%
stake in Opella to a U.S. private equity firm could result in
job cuts.  urn:newsml:reuters.com:*:nL8N3LR1IO
        
  
    ** Fertiglobe  FERTIGLB.AD  expects to more than double its
net ammonia production capacity as it integrates ADNOC's
portfolio of low carbon ammonia projects following the energy
giant's purchase of a majority stake in the fertiliser maker.
 urn:newsml:reuters.com:*:nL8N3LQ1KT

    ** Portugal's main power utility EDP  EDP.LS  initiated
merger discussions with London-listed peer SSE  SSE.L  earlier
this year, but talks did not progress, three people familiar
with the matter told Reuters.  urn:newsml:reuters.com:*:nL8N3LR18P
        
  
        ** Nabors Industries  NBR.N  agreed to buy drilling
services provider Parker Wellbore as the oilfield services
company aims to expand its global drilling business.
 urn:newsml:reuters.com:*:nL4N3LR16L    
  
    
        ** Abu Dhabi-based investment and holding company ADQ
has entered into a definitive agreement with a consortium led by
Lebanon's Bank Audi to acquire a 96% stake in Turkey's Odeabank,
the firms said.  urn:newsml:reuters.com:*:nL8N3LR12U
  

        ** British sportswear and apparel retailer Frasers
 FRAS.L  said it has bought a "significant" non-controlling
stake in Africa-focused sport and fashion retailer and
distributor Hudson Malta.  urn:newsml:reuters.com:*:nL4N3LR10A
  

    ** Shares in De La Rue  DLAR.L  soared 15% after the British
banknote printer said it would sell its authentication business
for 300 million pounds ($391.3 million), including debt, to U.S.
rival Crane NXT  CXT.N , to bolster its finances.  urn:newsml:reuters.com:*:nL4N3LR0G5

    ** Parcel locker company InPost  INPST.AS  said it has
bought out all the stake it did not already own in British
logistics company Menzies Distribution, as it scales up its
operations in the country.  urn:newsml:reuters.com:*:nL1N3LR05J

    ** South Korean conglomerate Hanwha Group on Monday raised
its offer for the remaining stake it does not already own in
Singapore's Dyna-Mac  DMHL.SI , valuing the offshore oil and gas
contractor at S$790.6 million ($605.41 million). urn:newsml:reuters.com:*:nL4N3LQ0GS
    
    ** Some of Frontier Communications'  FYBR.O  largest
shareholders are concerned about its planned $9.6 billion
takeover by Verizon Communications  VZ.N , with its
second-largest investor planning to vote against the deal, three
sources familiar with the firm's plans said.  urn:newsml:reuters.com:*:nL1N3LQ0WY
    
    ** Phillips 66  PSX.N  will sell its 49% non-operated equity
interest in Coop Mineraloel AG to its Swiss joint venture
partner for $1.24 billion, the U.S. refiner said on
Monday. urn:newsml:reuters.com:*:nL4N3LQ1E2

 (Compiled by Rajarshi Roy and Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com;))