Deals of the day-Mergers and acquisitions

Olam

24/02/2025 22:01

(Adds: Liberty Media, Equinox Gold, Sun Communities, Nvidia, Telefonica; updates: Saipem, Wood
Group)
       Feb 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported
by 2130 GMT on Monday:
     

    ** Spanish telecoms company Telefonica  TEF.MC  has agreed to sell its unit in Argentina for
$1.245 billion to Telecom Argentina  TECO2m.BA  as part of its strategy to gradually reduce its
exposure to Latin America, it said.
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    ** Britain's struggling oilfield services and engineering firm Wood Group  WG.L  has
received a fresh approach from Dubai-based Sidara about a possible takeover offer after a failed
attempt six months ago, both parties said.
 urn:newsml:reuters.com:*:nL3N3PF0WW
    
    ** U.S. chipmaker Nvidia  NVDA.O  has sued EU antitrust regulators for accepting an Italian
request last year to scrutinise its acquisition of AI startup Run:ai, saying they had flouted an
earlier court ruling restricting their merger powers on minor deals.
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    ** Sun Communities  SUI.N  will sell its superyacht servicing business for $5.65 billion in
cash, as the real estate investment trust aims to focus on its core segments and reduce debt,
sending its shares up more than 5%.
 urn:newsml:reuters.com:*:nL3N3PF12U
        
    ** Italy's Saipem  SPMI.MI  has agreed to merge with Norwegian rival Subsea 7  SUBC.OL  in
an all-share deal to create a leading global player in offshore energy services.
 urn:newsml:reuters.com:*:nL2N3PF0J2
    
    ** EU antitrust regulators have paused their investigation into Liberty Media's  FWONA.O 
3.5-billion-euro ($3.7 billion) bid for Dorna Sports while waiting for information from the
companies, the European Commission said.
 urn:newsml:reuters.com:*:nL2N3PF0NK
    
    ** Canada's Equinox Gold  EQX.TO  on Sunday said it would acquire all outstanding shares of
Calibre Mining  CXB.TO  in an all-stock deal, aiming to benefit from upcoming Canadian output as
gold prices reach record highs.
 urn:newsml:reuters.com:*:nL3N3PF11M
    
    ** Dutch technology investor Prosus  PRX.AS  has agreed to buy Just Eat Takeaway.com
 TKWY.AS  for 4.1 billion euros ($4.3 billion) to create a "European tech champion" of food
delivery, it said.
 urn:newsml:reuters.com:*:nL2N3PF05D
     
    ** Alternative asset manager Apollo Global Management  APO.N  will buy real estate firm
Bridge Investment Group  BRDG.N  for about $1.5 billion in an all-stock deal, expanding its real
estate offerings.
 urn:newsml:reuters.com:*:nL3N3PF0SG
     
    ** Saudi Arabia's agricultural and livestock investment firm SALIC has agreed to buy a
44.58% stake in Singapore-based Olam Group's  OLAG.SI  agricultural products business Olam for
$1.78 billion, the companies said.
 urn:newsml:reuters.com:*:nL2N3PE09K
     
    ** U.S. private equity firm Bain Capital has tabled a 1.1-billion-pound ($1.39 billion)
proposal to buy Chemring Group CHG.L, Sky News reported, sending shares of the London-listed
defence contractor up more than 16%.
 urn:newsml:reuters.com:*:nL3N3PF0PI
     
    ** Italy's state-owned bad loan manager AMCO said that it will buy 80% of public credit
management company Exacta Group from Eulero Capital and the Oreglia founding family.
     urn:newsml:reuters.com:*:nL5N3PF0IW
     
    ** Britain's National Grid  NG.L  has reached a deal to sell its U.S. onshore renewables
business to Canadian investment firm Brookfield Asset Management  BAM.TO  for $1.74 billion
including debt, it said.
     urn:newsml:reuters.com:*:nL3N3PF0DY
     
    ** Switzerland's Energy Infrastructure Partners (EIP) will take a majority stake in BayWa
AG's  BYWGnx.DE  renewable energy unit BayWa r.e. through a capital increase that will see the
German agricultural group's holding fall to 35% from 51%.
     urn:newsml:reuters.com:*:nL2N3PE09U
     
    ** NormanMax is to acquire London-based parametric insurtech MGA FloodFlash in a deal that
remains subject to Financial Conduct Authority approval, sources close to the transaction told
The Insurer.
     urn:newsml:reuters.com:*:nL6N3PF07X
     
    ** Australia's Perpetual Ltd  PPT.AX  said it has terminated its support for a takeover deal
with buyout firm KKR  KKR.N  for its wealth management and corporate trust businesses, after an
independent expert deemed it not in the best interests of shareholders.
     urn:newsml:reuters.com:*:nL3N3PE051
     

 (Compiled by Rajarshi Roy, Kamal Choudhury and Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))