Deals of the day-Mergers and acquisitions

India Cements

27/06/2024 10:51

June 27 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported 0930 GMT on Thursday:

    ** UltraTech Cement  ULTC.NS  said on Thursday it will buy a
23% stake in rival India Cements  ICMN.NS  for up to 18.85
billion rupees ($226 million), heating up a battle with the
Adani group which is challenging its position as India's top
cement maker.  urn:newsml:reuters.com:*:nL4N3IP0A1
    
    ** France's Saint-Gobain  SGOB.PA  has entered into an
agreement to buy Dubai-based construction chemicals company
FOSROC for around 960 million euros ($1.03 billion) to drive its
international expansion, it said on Thursday.  urn:newsml:reuters.com:*:nL8N3IP06W
    
    ** Nokia  NOKIA.HE  on Thursday said it had agreed to sell
its submarine networks business ASN to the French state for 350
million euros ($374 million), but that the deal would not impact
its financial outlook.  urn:newsml:reuters.com:*:nL1N3IP06S

    ** Fairfax India Holdings Corp  FIHu.TO  said on Thursday
its wholly-owned subsidiary, FIH Mauritius Investments, sold a
9.7% stake in Indian private lender CSB Bank  CSBB.NS  to comply
with regulatory norms.  urn:newsml:reuters.com:*:nL4N3IP0AQ
    
    ** SK Bioscience  302440.KS  will acquire a 60% stake in
German pharmaceutical contract manufacturing firm IDT Biologika
GmbH from Klocke Gruppe in a deal worth 339 billion won ($243.75
million), the South Korean vaccine maker said on Thursday. 
 urn:newsml:reuters.com:*:nL1N3IP01B
    
    ** German sandal maker Birkenstock  BIRK.N  said on
Wednesday it has priced a $756 million secondary offering by an
entity affiliated with L Catterton at $54 apiece.  urn:newsml:reuters.com:*:nL4N3IP02F
    
    ** Brazilian pulpmaker Suzano  SUZB3.SA  said on Wednesday
it has terminated talks to buy International Paper  IP.N ,
adding the U.S.-based firm did not engage with the highest price
it was willing to pay.  urn:newsml:reuters.com:*:nL1N3IO1AH

    ** Contract manufacturer Future Pak said on Wednesday it has
withdrawn its offer to acquire Vanda Pharmaceuticals  VNDA.O ,
citing non-engagement from the U.S. drugmaker.  urn:newsml:reuters.com:*:nL4N3IO1WP
    
    ** Haleon  HLN.L  will sell its nicotine replacement therapy
business outside the U.S. to a unit of India's Dr. Reddy's
 REDY.NS  for 500 million pounds ($632.55 million), the British
consumer healthcare company said on Wednesday.  urn:newsml:reuters.com:*:nL4N3IO0ZF    
    
    ** Qatar Airways is in talks to buy up to a 20% stake in
Bain Capital-owned Virgin Australia, the Australian Financial
Review (AFR) reported on Wednesday, as carriers fight for more
market share in the country against dominant airline Qantas
 QAN.AX .  urn:newsml:reuters.com:*:nL4N3IO0XO

 (Compiled by Rajarshi Roy and Abhinav Parmar in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))