Deals of the day-Mergers and acquisitions
22/11/2021 11:15
Nov 22 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 1115 GMT on Monday:
** Honeywell Flour Mills rose 9.73% in early trade to a
one-month high after Nigeria's biggest miller Flour Mills agreed
to acquire a majority stake. urn:newsml:reuters.com:*:nL8N2SD23F
** Shares in Telecom Italia (TIM) TLIT.MI rose as much as
30%, after U.S. fund KKR KKR.N presented a non-binding
proposal to buy Italy's former phone monopoly valuing it at 10.8
billion euros ($12 billion). urn:newsml:reuters.com:*:nL8N2SD1CT
** Ericsson ERICb.ST agreed to buy cloud communications
firm Vonage VG.O in a $6.2 billion all-cash deal, as the
telecom gear maker moves to broaden its 5G portfolio.
urn:newsml:reuters.com:*:nL1N2SD0C4
** Norway's Telenor TEL.OL and Thai conglomerate Charoen
Pokphand Group agreed to merge their telecom units in Thailand
in a roughly $8.6 billion deal to create a firm with more than
half the mobile subscribers in the Southeast Asian country.
urn:newsml:reuters.com:*:nL1N2SD0BP
** Authentic Brands Group Inc (ABG) AUTH.N said private
equity firms CVC Capital Partners and HPS Investment Partners
had agreed to buy a significant stake in a deal that values the
brand developer at $12.7 billion on an enterprise value basis.
urn:newsml:reuters.com:*:nL4N2SD1G1
** Britain's competition regulator is examining whether
British Airways owner IAG's ICAG.L planned 500 million euro
($563.2 million) purchase of Spain's Air Europa would harm
competition in the UK, the watchdog said. urn:newsml:reuters.com:*:nL1N2SD0EN
** Royal Dutch Shell RDSa.L has made its first foray into
selling power to households in Australia, teaming up with an
infrastructure fund to buy Meridian Energy's MEL.NZ local
electricity business for A$729 million ($528 million).
urn:newsml:reuters.com:*:nL1N2SC0JF
** Apollo Global Management APO.N has agreed to buy a 50%
stake in Broad Reach Power from its existing owners, the parties
said, a deal which will result in up to $400 million of capital
being invested in the U.S. energy storage and renewables company
to fund expansion. urn:newsml:reuters.com:*:nL8N2SD021
(Compiled by Rajarshi Roy and Akash Sriram in Bengaluru)
((Akash.Sriram@thomsonreuters.com))