Deals of the day-Mergers and acquisitions

JX Advanced Metals

16/12/2025 21:21

Adds Barry Callebaut, Universal Music, Apollo Global, Midad Energy

Dec 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2115 GMT on Tuesday:

** Saudi Arabia's Midad Energy has emerged as one of the leading contenders to buy Russian oil major Lukoil's LKOH.MM international assets, leveraging deep political ties with Moscow and Washington, three people familiar with the matter said.

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** Apollo Global APO.N is weighing a potential sale of its air-freight company Atlas Air, Bloomberg News reported on Tuesday, citing people familiar with the matter.

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** Universal Music Group UMG.AS has offered to sell royalty services platform Curve in an attempt to address EU competition concerns over its $775 million bid for Downtown Music, a person with direct knowledge of the matter said on Tuesday.

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** The world’s biggest chocolate maker Barry Callebaut BARN.S is in the early stages of exploring the separation of its global cocoa unit from the rest of the group, according to three people familiar with the matter.

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** Japan's JX Advanced Metals <5016.T> said its Pan Pacific Copper (PPC) unit sold its entire stake in the undeveloped Quechua copper project in Peru to Swiss trader and miner Glencore  for an undisclosed sum.

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** An investor group led by Consortium Brand Partners is buying California Pizza Kitchen and has tapped the CEO of Convive Brands to run its restaurants, the company told Reuters, five years after the chain's pandemic-driven bankruptcy.

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** Morocco's leading port operator, Marsa Maroc, said it signed a deal to acquire a 45% stake in Spain's Boluda Maritime Terminals (BMT), a branch of Spain's Boluda Corporacion Maritima, for 80 million euros ($94.01 million).

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** Kering , the owner of luxury brand Gucci, said it had agreed to sell a 60% stake in a prime New York property to private equity firm Ardian, raising $690 million in cash.

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** TotalEnergies  has agreed to sell an indirect stake of almost 10% in a Malaysian offshore gas block to Thailand’s state-backed PTTEP for an undisclosed sum, the French oil major said.

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** Abu Dhabi National Oil Company (ADNOC) has acquired a controlling 95% stake in Covestro, the German chemicals maker said on Monday in a regulatory filing.

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** World Insurance Associates acquired Lakewood, New Jersey-based The Fidella Agency on September 1, the broker announced on Monday.

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** Holcim  has agreed to pay $550 million for a majority stake in Peruvian building materials maker Cementos Pacasmayo , it said, the Swiss company's biggest ever acquisition in Latin America.

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** Activist investment firm Kimmeridge Energy Management has submitted a $6 billion offer to buy Ascent Resources, the Financial Times reported.

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** Wall Street giant Citigroup  said on Monday it had completed the sale of a 25% stake in its Grupo Financiero Banamex to a company owned by Mexican billionaire Fernando Chico Pardo and his family.

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** Services firm WSP Global  said on Monday it will acquire U.S. power and energy firm TRC Companies in a $3.3 billion all-cash deal.

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 (Compiled by Rajarshi Roy and Katha Kalia in Bengaluru)

 ((Rajarshi.Roy@thomsonreuters.com))