Deals of the day-Mergers and acquisitions
30/08/2024 14:41
(Adds: BYD, SCG Packaging, Adani Ports and Special Economic
Zone Updates: Ganz-Mavag)
Aug 30 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on Friday:
** China's BYD 1211.HK , 02594.SZ will buy Hedin Electric
Mobility, the German car distributor's parent company said, as
BYD moves to establish itself as a major electric vehicle maker
in Europe.
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** Thailand-based SCG Packaging SCGP.BK has acquired an
additional stake worth $652.4 million in Indonesian packaging
paper maker Fajar Surya, increasing its ownership in the company
to 99.7% in a move to expand its operations in southeast Asia.
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** Adani Ports and Special Economic Zone APSE.NS said it
will buy a majority stake in an offshore support vessel operator
for $185 million, expanding its fleet and diversifying beyond
port operations.
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** Hungarian consortium Ganz-Mavag said it had withdrawn its
tender offer for all shares in Spanish train manufacturer Talgo
TLGO.MC on Friday after the Madrid government blocked the
takeover bid.
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** Singapore Airlines (SIA) SIAL.SI said it has received
approval from the Indian government for foreign direct
investment, as part of a merger in which Vistara, its 49%-owned
joint venture with Tata, will be absorbed into Air India.
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** Unieuro's UNIR.MI board of directors failed to agree
on the priceof a takeover bid from Fnac Darty FNAC.PA and Ruby
Equity Investment, the Italian consumer electronics retailer
said.
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** PPG Industries PPG.N will sell its silica products
business to Polish chemical company QEMETICA for $310 million,
the paints and coatings maker said.
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(Compiled by Rajarshi Roy and Harshita Mary Varghese in
Bengaluru)
((Rajarshi.Roy@thomsonreuters.com;))