Deals of the day-Mergers and acquisitions

Strathcona Resources

16/05/2025 10:46

May 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Friday:

**  South Africa's Tiger Brands  will sell its canned fruit business, Langeberg and Ashton Foods, as a going concern for a symbolic one rand to a new company set up by a consortium, the country's biggest food producer said.

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**  Broadband and cable TV provider Charter  is in advanced talks to combine with Cox Communications in a deal that values Cox at more than $30 billion, Bloomberg News reported.

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** Embattled German trading group BayWa  has received at least two offers for its Dutch grain and oilseed trading branch Cefetra, which the group has put up for sale as part of a wider attempt to cut debt, two sources close to the matter said.

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** Singapore Telecommunications  said it had sold around 1.2% of its stake in India's Bharti Airtel  for S$2 billion ($1.54 billion), netting an estimated gain of S$1.4 billion.

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**  The Icelandic government said late on Thursday it had completed the sale of its 45.2% stake in Islandsbanki for 90.58 billion Icelandic crowns ($702.66 million), divesting a holding that was a legacy of the 2008 financial crisis.

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** Canadian oil and gas producer Strathcona  said late Thursday it plans to launch a C$5.93 billion ($4.25 billion) takeover bid for peer MEG Energy , aiming to create the country's fifth-largest oil producer.

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** Mapletree Industrial Trust  said it has agreed to sell three of its Singaporean industrial properties to Brookfield Asset Management  for a total of S$535.3 million ($412.82 million).

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** Australian online travel agency Webjet Group  rejected a controlling stake bid of A$314 million ($201.02 million) from private equity firm BGH Capital, saying the offer undervalued the company.

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** Utility Vistra  said on Thursday it would acquire seven natural gas generation facilities, with a combined capacity of nearly 2,600 megawatts, from Lotus Infrastructure Partners for $1.9 billion, as it looks to meet growing power demand.

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 (Compiled by Rajarshi Roy and Prakhar Srivastava in Bengaluru)

 ((Prakhar.Srivastava2@thomsonreuters.com))