Deals of the day-Mergers and acquisitions

TSURUHA HOLDINGS

28/02/2024 15:05

(Adds: TransDigm, Kuwait Finance House, Ageas, Reliance
Industries, SCB X, A Updates: Swisscom)
       Feb 28 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT, on
Wednesday:

        ** Britain approved TransDigm's  TDG.N  acquisition of
U.S.-based Communications & Power Industries (CPI), subject to
the condition that CPI's UK research and manufacturing
capabilities in relation to atomic clocks remain in the country.
  
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        **  India's top conglomerate Reliance Industries
 RELI.NS  and Walt Disney  DIS.N  announced the merger of their
India TV and streaming media assets, creating an $8.5 billion
entertainment juggernaut far ahead of rivals in the world's most
populous nation.
  
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        ** Kuwait Finance House (KFH) completed a merger with
Ahli United Bank of Kuwait (AUB), Kuwait's state news agency
reported .
  
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        ** Belgium-based insurer Ageas  AGES.BR  proposed to buy
Direct Line Insurance  DLGD.L  for about 3.1 billion pounds
($3.92 billion) , in a bid to expand its UK business, sending
shares in the British motor insurer up 28%.
  
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        ** SCB X  SCB.BK , Thailand's fourth-largest bank by
assets, will acquire consumer finance firm Home Credit Vietnam
for 31 billion baht ($860 million), it said , the latest Thai
lender to expand in Southeast Asia.
  
         urn:newsml:reuters.com:*:nL3N3FD3C2 
  

        ** Swisscom  SCMN.S  said  it was in exclusive talks to
buy all of Vodafone Italia for 8 billion euros ($8.7 billion) to
merge the business with its Italian subsidiary Fastweb.
  
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    ** Japanese retailer Aeon  8267.T  and drugstore chains
Tsuruha  3391.T  and Welcia  3141.T  said they will merge their
businesses by 2027 to form Japan's largest pharmacy.
     urn:newsml:reuters.com:*:nL2N3FD0OP

    ** China's state-owned Chongqing Changan Automobile Co Ltd
 000625.SZ  is in talks to take over struggling Chinese electric
vehicle maker Human Horizons, financial news outlet Yicai
reported, citing Changan Chairman Zhu Huarong.
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    ** China's CDH Investments is in advanced talks to buy a
minority stake in Bach Hoa Xanh (BHX) from Vietnam retailer
Mobile World  MWG.HM  in a deal that could value the grocery
chain at up to $1.7 billion, two sources with direct knowledge
said.
     urn:newsml:reuters.com:*:nL3N3FC2PH
    
    ** Shares of employment services firm APM Human Services
International  APM.AX  surged after private equity firm CVC Asia
Pacific improved its buyout bid, valuing the company at A$1.83
billion ($1.20 billion).
     urn:newsml:reuters.com:*:nL3N3FC5P7
    
    ** Kroger  KR.N  and Albertsons  ACI.N  have turned to
seasoned Washington, D.C., antitrust lawyers to battle the U.S.
Federal Trade Commission's new lawsuit seeking to block the
supermarket giants' planned $25 billion merger.
     urn:newsml:reuters.com:*:nL2N3FC3Q7
    
    ** Hess  HES.N  said on Tuesday that a pre-emption provision
does not apply to its proposed $53-billion buyout by Chevron
 CVX.N  and it remains "fully committed" to the deal.
     urn:newsml:reuters.com:*:nL3N3FC5KG

 (Compiled by Rajarshi Roy and Puyaan Singh in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))