Deals of the day-Mergers and acquisitions

RXO

24/06/2024 15:44

(Adds Riot Platforms, Vista Outdoor, UBS, Telecom Italia, Africa Oil; updates
Eni, Covestro, Sonoco Products)
       June 24 (Reuters) - The following bids, mergers, acquisitions and
disposals were reported by 1430 GMT on Monday:

        ** Bitcoin miner Riot Platforms  RIOT.O  said it was withdrawing its
offer for Bitfarms  BITF.TO  and had nominated three directors to the board of
rival crypto miner.  urn:newsml:reuters.com:*:nL4N3IM0Y4
  
    
        ** Vista Outdoor  VSTO.N  agreed to sell its sporting products and
ammunition business to Czechoslovak Group (CSG) for about $2 billion, after the
Prague-based defense firm raised its offer for a second time.  urn:newsml:reuters.com:*:nL4N3IM0VM
  
        
  
        ** UBS  UBSG.S  is selling a partial stake in one of its securities
joint ventures to Beijing State-owned Asset Management (BSAM), a key step for
the Swiss bank as it consolidates operations in China after its merger with
Credit Suisse.  urn:newsml:reuters.com:*:nL1N3IM0D8    
  
        
  
        ** Telecom Italia (TIM) will finalise the landmark sale of its domestic
fixed line access network to KKR  KKR.N  on July 1, the Italian company said.
 urn:newsml:reuters.com:*:nFWN3IM0UY        
  
        
  
        ** Italian energy group Eni  ENI.MI  expects to complete the sale of a
minority stake in its biofuel unit Enilive by the end of 2024, Chief Executive
Claudio Descalzi said.  urn:newsml:reuters.com:*:nL1N3IM0BP
  
        
  
        ** German chemicals firm Covestro  1COV.DE  is giving ADNOC access to
its books and stepping up talks based on an improved 11.7 billion euro ($12.5
billion) takeover offer, after more than a year of courtship by the Emirati
energy company.  urn:newsml:reuters.com:*:nL1N3IM0B9
  

        ** Sonoco Products  SON.N  said it would buy European food cans maker
Eviosys from private equity group KPS Capital Partners in a $3.9 billion deal,
to expand its metal and aerosol packagingbusiness.  urn:newsml:reuters.com:*:nL4N3IM0Q1
  
        
  
        ** Africa Oil  AOI.TO  has agreed to buy out BTG Pactual Oil & Gas's 50%
holding in their Prime Oil & Gas joint venture in a deal that will see it take
on BTG as a major shareholder, it said.  urn:newsml:reuters.com:*:nL4N3IM0MV    
  
    
    ** Allianz Global Investors (AGI), one of the investment arms of German
insurer Allianz, has become the first foreign company to own a stake in China's
pension insurance giant Guomin Pension.  urn:newsml:reuters.com:*:nL1N3IM0AD
    
    ** German property lender Aareal Bank will book a gain of around 2 billion
euros ($2.14 billion) after it sells its tech unit Aareon to private equity firm
TPG and investor CDPQ, it said in announcing the deal.  urn:newsml:reuters.com:*:nL8N3IM0AF    
    
    ** Carlsberg  CARLb.CO  said that PepsiCo  PEP.O  has agreed to waive a
clause in its bottling deal with Britvic  BVIC.L , making the British firm a
more attractive acquisition after a $3.9 billion bid by the Danish brewer was
rejected.  urn:newsml:reuters.com:*:nL4N3IM0GC
    
    ** Australian miner Paladin Energy  PDN.AX  said it had entered into an
agreement to buy Canada's Fission Uranium Corp  FCU.TO  for an implied equity
value of C$1.14 billion ($833.03 million).  urn:newsml:reuters.com:*:nL4N3IM0FA
    
    ** Safran  SAF.PA  has entered exclusive talks to buy Preligens, a
specialist in artificial intelligence solutions in aerospace and defence, at an
enterprise value of 220 million euros ($235.4 million), the French jet engine
maker said.  urn:newsml:reuters.com:*:nFWN3IM045
    
    ** British e-commerce firm THG  THG.L  has agreed to sell its portfolio of
luxury goods websites to Mike Ashley's Frasers Group  FRAS.L  for an undisclosed
sum, it said.  urn:newsml:reuters.com:*:nL4N3IM0DS
    
    ** Australia's Premier Investments  PMV.AX  said department store chain Myer
Holdings  MYR.AX  had offered to buy its apparel brands business in an all-scrip
deal, sending its shares more than 7% higher in early trade.  urn:newsml:reuters.com:*:nL4N3IL08F

    ** United Parcel Service  UPS.N , the world's biggest package delivery firm,
will sell its Coyote Logistics business unit to RXO  RXO.N  for $1.025 billion,
the companies said on Sunday.  urn:newsml:reuters.com:*:nL1N3IL063    

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