Deals of the day-Mergers and acquisitions
18/10/2024 14:43
(Adds: Tokio Marine, Kotak Mahindra Bank, United States
Cellular)
Oct 18 (Reuters) - The following bids, mergers,
acquisitions, and disposals were reported by 1330 GMT on Friday:
** United States Cellular USM.N said it has agreed to
sell some of its spectrum licenses to Verizon VZ.N in a $1
billion deal.
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** Japanese insurer Tokio Marine 8766.T has paused the
sale of its $1 billion Southeast Asia life insurance business,
partly due to a dispute with a Malaysian partner over an
expiring products distribution agreement, four sources with
knowledge of the matter said.
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** Kotak Mahindra Bank KTKM.NS will buy Standard
Chartered Bank's personal loan business in India, the Indian
lender said, leaving the U.K.-based company to focus on its
wealth and investment banking business in Asia's third-largest
economy.
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** The board of Japan's Fuji Soft 9749.T has decided to
stick with a 558.4 billion yen ($3.72 billion) buyout offer from
KKR KKR.N , the Nikkei newspaper said, despite having received
a higher counter-offer from Bain.
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** BP BP.L is considering selling a minority stake in its
offshore wind business, according to four sources with knowledge
of the matter, the latest effort by CEO Murray Auchincloss to
scale back the energy company's focus on renewables.
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** Philippine conglomerate Ayala Corp AC.PS is selling
half of its stake in Mynt, the fintech unicorn which operates
e-wallet brand GCash, to Japan's Mitsubishi Corp 8058.T for a
minimum of 18.4 billion pesos ($318.89 million), it said.
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(Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)
((AnujaBharat.Mistry@thomsonreuters.com))