Deals of the day-Mergers and acquisitions

UNIQA Insurance AG

24/08/2023 11:11

Aug 24 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 0930 GMT on
Thursday:

    ** Austria's Uniqa  UNIQ.VI  and Raiffeisen Bank  RBIV.VI 
are to sell their stakes in Raiffeisen Life to Russian insurer
Renaissance Life, becoming the latest move by Western companies
to pare back business in Russia.
     urn:newsml:reuters.com:*:nL8N3A33TB
    
    ** Malaysia's largest asset manager, Permodalan Nasional Bhd
(PNB), is considering merging Sime Darby Motors and Perusahaan
Otomobil Kedua (Perodua) to create a domestic automotive giant
worth more than 10 billion ringgit ($2.15 billion), two sources
said.
     urn:newsml:reuters.com:*:nL1N3A504Q
    
    ** GAM  GAMH.S  has entered into discussions with French
billionaire Xavier Niel's NewGAMe shareholder group after a
takeover offer from Britain's Liontrust failed to gain the
required level of support.
     urn:newsml:reuters.com:*:nL8N3A5151
    
    ** Belgian telecommunications firm Telenet  TNET.BR  said 
it was reopening the acceptance period on Liberty Global's
 LBTYA.O  offer to buy out all remaining minority shares in the
group.
    urn:newsml:reuters.com:*:nL8N3A51GU
    
    ** France's Engie  ENGIE.PA  said it is acquiring full
ownership of Broad Reach Power, a power storage company based in
Houston, Texas, as it seeks to expand its global battery
infrastructure.
     urn:newsml:reuters.com:*:nL8N3A51E7
    
    ** Malaysia's Sime Darby  SIME.KL  said it has entered into
an agreement with asset manager Permodalan Nasional Bhd to
acquire a 61.2% stake in UMW Holdings Bhd  UMWS.KL  for 3.57
billion ringgit ($769.40 million).
     urn:newsml:reuters.com:*:nL4N3A51NB
    
    ** Malaysian palm oil firm Kuala Lumpur Kepong Berhad
 KLKK.KL  said on Thursday it plans to buy a 33% stake in
Boustead Plantations  BOPL.KL  and eventually take over the
smaller rival along with other top shareholders, in a deal
valuing the company at 3.47 billion ringgit ($748 million).
     urn:newsml:reuters.com:*:nL1N3A504Y
    
    ** Privately held steel company Esmark said on Wednesday it
would not participate in the purchase process for U.S. Steel
Corp  X.N  and respect the position of the United Steel Workers
(USW) union, which is supporting Cleveland-Cliffs' CLF.N  offer.
     urn:newsml:reuters.com:*:nL4N3A441R

 (Compiled by Rajarshi Roy and Arsheeya Bajwa in Bengaluru)
 ((ArsheeyaSingh.Bajwa@thomsonreuters.com))