Deals of the day-Mergers and acquisitions
12/05/2023 20:49
(Adds: Korean Air Lines, Saras, EQT Infrastructure)
May 12 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1945 GMT on Friday:
** Korean Air Lines 003490.KS expects EU antitrust
regulators to issue a formal warning about its bid for Asiana
Airlines 020560.KS by the end of May, South Korea's biggest
carrier said, raising yet another hurdle for a major deal in the
aviation industry. urn:newsml:reuters.com:*:nL1N3791UM
** Global commodities trader Trafigura has raised its
stake in Italian refiner Saras SRS.MI to 12.46% from 5.23%,
the companies said, strengthening Trafigura's foothold over
Mediterranean oil flows. urn:newsml:reuters.com:*:nL1N3792DG
** Sweden's EQT Infrastructure will take a majority
stake in Wind Tre's Italian telecoms network after agreeing to a
deal with Hong Kong's CK Hutchison 0001.HK valuing the
business at 3.4 billion euros ($3.74 billion), including debt,
the groups said. urn:newsml:reuters.com:*:nL4N3792NU
** Billionaire investor Daniel Loeb is no longer exploring a
potential acquisition of SiriusPoint SPNT.N , according to a
regulatory filing, a month after disclosing his interest in
taking the insurance firm private. urn:newsml:reuters.com:*:nL4N379320
** Swedish truck maker AB Volvo VOLVb.ST has called off
its deal to buy JMC Heavy Duty Vehicle from China's Jiangling
Motors Co because the closing conditions were not met, it said.
urn:newsml:reuters.com:*:nL1N3790XY
** Japanese online financial conglomerate SBI Holdings Inc
8473.T said it would take midsize lender SBI Shinsei Bank
8303.T private through a $1.1 billion tender offer,
accelerating its drive to create a major banking group.
urn:newsml:reuters.com:*:nL4N379132
** Toshiba Corp 6502.T said it was working with Japan
Industrial Partners to quickly complete a $15-billion buyout by
the private equity firm, as the industrial conglomerate forecast
another year of weak earnings. urn:newsml:reuters.com:*:nL1N3790BX
** Newcrest Mining Ltd NCM.AX said it has extended the
exclusivity period by a week for Newmont Corp NEM.N to
complete its due diligence on its A$29.4 billion ($19.94
billion) final takeover offer for the Australian gold miner.
urn:newsml:reuters.com:*:nL4N37861D
** British drugmaker GSK GSK.L sold 240 million shares in
its consumer healthcare business Haleon HLN.L at 335 pence per
share, raising about 804 million pounds ($1 billion), the
company said. urn:newsml:reuters.com:*:nL4N3784UC
** Troubled Swedish real estate group SBB SBBb.ST has sold
most of its shares in construction company JM JM.ST for 2.8
billion Swedish crowns ($276 million), the company said, taking
a significant loss on a stake bought less than two years ago.
urn:newsml:reuters.com:*:nL8N3791GW
** British online retail platform THG Plc THG.L said it
has terminated talks with Apollo Global Management APO.N ,
saying there was "no merit" in discussions after it rejected the
private equity firm's latest buyout proposal. urn:newsml:reuters.com:*:nL4N3791B4
** Advisory and forensic accounting firm Ankura Consulting
said it has acquired sovereign restructuring advisory Newstate
Partners as demand from governments grows amid economic
uncertainty. A value for the acquisition was not disclosed.
urn:newsml:reuters.com:*:nL4N3791NU
** Walgreens Boots Alliance WBA.O , one of the largest U.S.
pharmacies, said on Thursday it has sold some of its shares in
drug distributor AmerisourceBergen Corp ABC.N for $694 million
and would primarily use the proceeds to pay down debt.
urn:newsml:reuters.com:*:nL4N3790MN
** CI Financial Corp CIX.TO will sell a 20% stake in its
U.S. wealth management arm to Bain Capital LP and other
investors for C$1.34 billion ($1.0 billion), the Canadian asset
manager said on Thursday, pausing efforts to take the business
public. urn:newsml:reuters.com:*:nL8N37875D
(Compiled by Rajarshi Roy, Pratik Jain and Aditya Samal in
Bengaluru)
((Pratik.Jain@thomsonreuters.com;))