Deals of the day-Mergers and acquisitions

The Bank of East Asia

02/06/2020 14:04

June 2 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 1300 GMT on Tuesday:    
    
    ** South Africa's largest insurer Sanlam  SLMJ.J  said it
bought out the remaining 65% stake in Nigerian insurance
business FBN Insurance it did not already own from First Bank
 FBNH.LG , deepening its presence in the West African country.
 urn:newsml:reuters.com:*:nL4N2DF2L5
    
    **  EU antitrust regulators will decide by July 6 whether to
clear Austrian sensor maker AMS's  AMS.VI  4.6 billion euro
($5.14 billion) bid for German lighting group Osram  OSRn.DE 
after a preliminary review, a European Commission filing showed
on Monday.  urn:newsml:reuters.com:*:nL8N2DF2CE
    
    ** Shares in Innogy  IGY.DE , once Germany's No.1 energy
group by market cap, are expected to be delisted this week, as
rival E.ON  EONGn.DE  said it completed a squeeze-out as part of
a broader deal to break up the firm.  urn:newsml:reuters.com:*:nL8N2DF1Q6
    
    ** PKN Orlen has agreed to buy a 65% stake in troubled
newspaper distributor Ruch as part of a plan to expand in the
retail segment, Poland's biggest oil refiner said.  urn:newsml:reuters.com:*:nL8N2DF23T
    
    ** French state-controlled power group EDF  EDF.PA  said it
had agreed a joint venture partnership with China Energy
Investment Corporation (CEI) to develop offshore wind farms in
China.  urn:newsml:reuters.com:*:nFWN2DE0UJ
    
    ** Australian buy-now-pay-later (BNPL) company Zip Co Ltd
 Z1P.AX  said it will buy New York rival QuadPay Inc in an
all-share deal that values the target at $269 million, joining a
rush of Australian companies to tap the world's largest consumer
market.  urn:newsml:reuters.com:*:nL4N2DF196
    
    ** French retailer Carrefour  CARR.PA  said it had agreed to
buy food retailer Wellcome Taiwan from Asia's Dairy Farm
 DAIR.SI , making it the number two player in Taiwan's
convenience stores market.  urn:newsml:reuters.com:*:nL8N2DF0PK
    
    ** Virgin Australia Holdings Ltd's  VAH.AX  administrator
said it had selected Bain Capital and Cyrus Capital Partners as
the final bidders for the country's second-biggest airline.
 urn:newsml:reuters.com:*:nL4N2DF1G6
    
    ** Hong Kong-based Bank of East Asia Ltd (BEA)  0023.HK ,
which is conducting a review of its portfolios and assets, said
it has had no "external discussions" to sell its Hong Kong or
China banking business.  urn:newsml:reuters.com:*:nL4N2DF14F
    
    **  Shinsei Bank Ltd  8303.T  said it will buy New Zealand's
top non-bank finance provider, UDC Finance Ltd, for $480 million
in its biggest overseas acquisition to date and marking the
latest asset purchase by a Japanese company eager to move beyond
a low-growth home market.  urn:newsml:reuters.com:*:nL4N2DE4N0

 (Compiled by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))