Deals of the day-Mergers and acquisitions

Pacific Current

16/11/2023 14:39

(Adds: SoftBank, National Bank of Greece, IDBI Bank, Advent
International, Eastern Co  Updates: Leonardo, Sime Darby Bhd)
       Nov 16 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on
Thursday:

        ** Italy's Leonardo  LDOF.MI  is trimming its stake in
U.S. unit DRS  DRS.O  as new CEO Roberto Cingolani looks to
expand the state-controlled group with major roles in European
defence projects. urn:newsml:reuters.com:*:nL8N3CH4FP
  
    
        ** SoftBank  9984.T  is likely to sell a stake worth
$150 million in Indian logistics firm Delhivery  DELH.NS ,
Moneycontrol reported, citing sources.  urn:newsml:reuters.com:*:nL4N3CH30L
  
    
        ** The sale of a 22% stake in National Bank of Greece
(NBG) held by the country's HFSF bank bailout fund was
oversubscribed by about seven times by 1230 GMT , a source
involved in the process told Reuters. urn:newsml:reuters.com:*:nL8N3CH59D
  
        
  
        ** The Indian government does not expect to conclude the
sale of IDBI Bank  IDBI.NS  by the end of the financial year on
March 31, 2024, a top finance ministry official told
reporters. urn:newsml:reuters.com:*:nL1N3CH16T
  
        
  
        ** Advent International has signed a deal to buy
payments firm myPOS as part of the London-based buyout group's
latest push into digital payments, director Fabio Cali told
Reuters.  urn:newsml:reuters.com:*:nL8N3CF3BS
  
        
  
        ** Egypt has sold a stake in tobacco products maker
Eastern Co  EAST.CA  in its first foreign sale of a major state
asset since it agreed to a privatisation programme with the IMF
last December. urn:newsml:reuters.com:*:nL8N3CH41Q
  
        
  
        ** Sime Darby Bhd  SIME.KL  has won its shareholders'
approval to acquire automotive-to-manufacturing company UMW
Holdings Bhd  UMWS.KL , the Malaysian conglomerate said in a
statement. urn:newsml:reuters.com:*:nL1N3CH0SS
  

    ** Britain's Hotel Chocolat  HOTC.L  agreed to a 534 million
pound ($662 million) takeover offer from Mars Inc, as the
specialist chocolatier succumbs to the U.S. food giant to help
it grow internationally, netting its founders a tidy profit.
 urn:newsml:reuters.com:*:nL8N3CH2CN
    
    ** Shareholders in Japan's Asahi Group Holdings  2502.T 
will sell some $1.3 billion worth of stock in the brewer to
overseas investors, the company said, in the latest unwinding of
cross-shareholdings among big Japanese firms.  urn:newsml:reuters.com:*:nL1N3CH0KU
        
    ** A reverse takeover deal involving Amigo Holdings
 AMGO.L , Craven House Capital and various individuals signed
last month has been terminated, the British subprime lender said
 as it faces voluntary liquidation. urn:newsml:reuters.com:*:nL1N3CH0JB
    
    ** Norwegian telecoms operator Telenor  TEL.OL  said it has
agreed to sell its subsidiary Telenor Satellite to
government-owned Space Norway for 2.36 billion Norwegian crowns
($217.37 million).  urn:newsml:reuters.com:*:nL8N3CH2GI
    
    ** Commonwealth Bank of Australia (CBA)  CBA.AX  said it
will sell its 99% stake in Indonesian unit PT Bank Commonwealth
(PTBC) to Singapore's OCBC  OCBC.SI , exiting a non-core
business after more than two decades. urn:newsml:reuters.com:*:nL4N3CH0RP
    
    ** Hong Kong-based Oasis Management could go to court to
seek a higher price for trading house Itochu's  8001.T  $2.7
billion acquisition of a subsidiary through a so-called
appraisal process, the founder of the activist fund said
Thursday. urn:newsml:reuters.com:*:nL4N3CH0QN
        
    ** Australia's Pacific Current Group  PAC.AX  has ended
buyout talks with GQG Partners  GQG.AX  and River Capital,
saying it did not receive any binding offers from the suitors.
 urn:newsml:reuters.com:*:nL4N3CG4W4
    
    ** Karoon Energy  KAR.AX  announced deals worth $720 million
 to buy stakes in certain offshore oil and gas fields in the
Gulf of Mexico from U.S.-based LLOG Exploration, in a move to
diversify operations beyond Brazil and Australia. urn:newsml:reuters.com:*:nL4N3CG4T5
    
    ** EQS Group AG  EQSn.DE  said on Wednesday it is in
advanced talks with U.S. private equity firm Thoma Bravo
regarding a takeover of the Frankfurt-listed
company. urn:newsml:reuters.com:*:nL4N3CG4P9
    
    ** Photoshop maker Adobe  ADBE.O  expects to get an EU
antitrust warning on its $20 billion bid for cloud-based
designer platform Figma and is open to proposing remedies to
resolve regulatory concerns, its chief counsel told Reuters on
Wednesday. urn:newsml:reuters.com:*:nL1N3CG32S
    
    ** Canadian businessman Pierre Lassonde on Wednesday said he
is "mystified" by Teck Resources'  TECKb.TO  decision to sell
its coal unit to a Glencore-led  GLEN.L  consortium for $9
billion because his group had bid the same price. urn:newsml:reuters.com:*:nL1N3CG2NA

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