Deals of the day-Mergers and acquisitions

Rai Way SpA

24/05/2024 14:50

(Adds: Deutsche Bahn and Jio Financial Services)
       May 24 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Friday:
    
    ** Germany's Deutsche Bahn  DBN.UL  has selected four
interested parties for the next stage of the bidding process for
its logistics subsidiary Schenker, a source familiar with the
matter told Reuters on Friday.
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    ** Jio Financial Services (JFS)  JIOF.NS  is seeking
shareholder approval for its unit to acquire equipment worth 360
billion rupees ($4.33 billion) from the retail arm of Reliance
Industries  RELI.NS  as the financial services provider plans to
enter the device leasing business, a postal ballot notice said.
     urn:newsml:reuters.com:*:nL4N3HR1T3
    
    ** U.S. investment firm KKR  KKR.N  is expected to get
unconditional EU antitrust approval to buy Telecom Italia's
(TIM)  TLIT.MI  fixed-line network after agreeing to keep
commercial agreements with TIM rivals, people with direct
knowledge of the matter said.
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    ** Spanish holding company Criteria said it had become the
second-biggest shareholder in ACS  ACS.MC  after buying a 9.4%
stake in the construction company for 983 million euros ($1.06
billion), as it expands its investments in leading companies in
Spain.
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    ** Italy has approved a decree enabling state broadcaster
RAI to sell a stake in its tower unit RaiWay  RWAY.MI , as long
as the disposal is compatible with a tie-up of RaiWay with rival
EI Towers, a government source told Reuters.
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    ** British oilfield services and engineering firm John Wood
Group  WG.L  said it has rejected a third buyout proposal from
Dubai-based company Sidara, as the unsolicited offer continued
to "significantly undervalue" the group.
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    ** State-controlled oil company Saudi Aramco  2223.SE  is
interested in buying a minority stake in the renewable unit of
Spanish oil company Repsol  REP.MC  , newspaper Expansion
reported, citing unidentified market sources.
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    ** Britain's Coventry Building Society will buy Co-operative
Bank for 780 million pounds ($989.9 million) in cash, the two
companies said in a joint statement.
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 (Compiled by Rajarshi Roy and Jaiveer Shekhawat in Bengaluru)
 ((jaiveersingh.shekhawat@thomsonreuters.com;))