Deals of the day-Mergers and acquisitions
29/11/2023 15:04
(Adds: Equinor, Elliott Management, KKR & Co, Keppel
Corporation, Adobe, Sonae)
Nov 29 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1445 GMT on
Wednesday:
** Equinor EQNR.OL said it has agreed to sell its Nigerian
business, including the company's share in the Agbami oil field,
to Nigerian-owned Chappal Energies.
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** Elliott Management said it has taken a $1 billion
stake in refiner Phillips 66 PSX.N , and plans to seek as many
as two board seats.
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** KKR & Co KKR.N said it would buy a remaining 37%
stake in Global Atlantic Financial Group that it does not
already own for $2.7 billion in an all-cash deal.
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** Singapore's Keppel Corporation KPLM.SI said its
unit Keppel Capital Holdings will acquire all issued voting
shares in European asset manager Aermont Capital in two
tranches, for a maximum sum of S$1.35 billion ($1 billion).
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** Adobe ADBE.O will aim to counter EU antitrust
charges that its proposed $20 billion acquisition of cloud-based
designer platform Figma hurts competition at a closed hearing on
Dec. 8, two people familiar with the matter said .
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** A consortium led by Sonae YSO.LS , which owns
Portuguese largest food retailer, launched a tender offer on all
the shares in Finnish pet care retailer Musti MUSTI.HE , in a
deal valuing it at 868 million euros ($952 million).
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** Toyota 7203.T and two affiliates will divest at least
8% of supplier Denso 6902.T , the companies said, a $4 billion
deal that sparked investor hopes the world's top-selling
automaker will shed more of its numerous cross-shareholdings.
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** Malaysian telecommunications and digital conglomerate
Axiata Group AXIA.KL said it had decided to exit Nepal and
reclassify its mobile service unit Ncell in the country as an
asset held for sale.
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** Gabon's national oil firm is seeking to use its right of
first refusal to acquire Carlyle's CG.O Assala Energy after
the private equity giant agreed to sell the business for $1.3
billion to France's Maurel & Prom, three sources told Reuters.
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** Saudi Arabian Prince Alwaleed Bin Talal's investment
company Kingdom Holding 4280.SE said it raised its ownership
in Citigroup C.N to 2.2% after acquiring from the prince a
stake in the bank worth about $450 million.
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** French oil and gas company TotalEnergies said it had
bought a minority stake in the Xlinks Morocco-UK Power Project,
a move it said would help the company achieve its targets in the
coming year.
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** South Africa's Exxaro Resources EXXJ.J said it planned
to sell its ferroalloys unit to a Black-owned business by the
end of June 2024.
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** Chinese payments group Alipay launched a $400 million
accelerated bookbuild to sell its stake in Indian food delivery
giant Zomato ZOMT.NS , according to the deal's term sheet.
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** Infrastructure giant Ferrovial FERF.AS has reached an
agreement with two different buyers to sell its entire 25% stake
in Britain's busiest airport, Heathrow, for 2.37 billion pounds
($3.01 billion), the company said in a statement on Tuesday.
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** Brazilian fuel distributor Vibra VBBR3.SA on Tuesday
rejected the merger proposal it received from energy firm Eneva
ENEV3.SA , saying the exchange ratio of the offer was
"unjustifiable," while leaving the door open for new offers.
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(Compiled by Rajarshi Roy and Granth Vanaik in Bengaluru)
((Granth.Vanaik@thomsonreuters.com;))