Deals of the day-Mergers and acquisitions

India Cements

27/06/2024 21:34

(Adds: Saudi Aramco and Chemaf SA)
       June 27 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported 2000 GMT on Thursday:
    
    ** Saudi Aramco  2223.SE  is set to take a 10% stake in a
thermal engine joint venture between Renault  RENA.PA  and
China's Geely 0175.HK called Horse Powertrain, said two sources
familiar with the matter, beefing up a business supplying legacy
automakers as electric-vehicle sales slow.  urn:newsml:reuters.com:*:nL4N3IP0O8
    
    ** Cobalt miner Chemaf SA has agreed to sell assets in the
Democratic Republic of Congo to Chinese miner Norin Mining to
settle debtslargely funded by its long-time partner, commodities
trader Trafigura, it said.  urn:newsml:reuters.com:*:nL1N3IP0KH

        ** Brazilian retailer GPA  PCAR3.SA  has agreed to sell
its network of gas stations in Sao Paulo state to conglomerate
Ultrapar  UGPA3.SA , it said late on Wednesday, part of a
broader push to divest from assets in the fuel industry. 
 urn:newsml:reuters.com:*:nL1N3IP0DF
    
    ** Italian cablemaker Prysmian  PRY.MI  will target
acquisitions of around 500 million euros ($535 million) and
refrain from large M&A deals in the next 2-1/2 years to focus on
reducing its 5 billion euros of debt, its chief executive said. 
 urn:newsml:reuters.com:*:nL8N3IP0M8
    
    ** UltraTech Cement  ULTC.NS  said it is buying a stake
worth up to $228 million in rival India Cements  ICMN.NS ,
intensifying a battle with the Adani group which is challenging
its position as the South Asian nation'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.  urn:newsml:reuters.com:*:nL8N3IP06W
    
    ** Nokia  NOKIA.HE  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 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.  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, Abhinav Parmar and Tanay Dhumal in
Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))