Deals of the day-Mergers and acquisitions

UNIQA Insurance AG

24/08/2023 14:51

(Adds: Paytm, Subway, Itau Unibanco, Qatar Sports Investments  
Updates: Sime Darby)
       Aug 24 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on
Thursday:

    ** Paytm  PAYT.NS  shareholder Antfin is likely to sell a
3.6% stake in the Indian payments firm through a block deal on
Friday as it further reduces its stake in the company, CNBC-TV18
reported. 
     urn:newsml:reuters.com:*:nL4N3A53J5
    
    ** Subway has agreed to sell itself to private equity firm
Roark Capital in a deal valuing the sandwich chain at more than
$9 billion, sources said, ending a long-drawn auction that saw
several bids from buyout firms.
     urn:newsml:reuters.com:*:nL4N3A538K
    
    ** Brazilian bank Itau Unibanco  ITUB4.SA  has signed a
binding agreement to sell its business in Argentina to Banco
Macro  BMA.BA  for about 250 million reais ($51.47 million).
     urn:newsml:reuters.com:*:nL1N3A50US
    
    ** Malaysian conglomerate Sime Darby  SIME.KL  said it is
buying a majority stake in industrial group UMW Holdings
 UMWS.KL  for 3.57 billion ringgit ($768.90 million) in a deal
that could spearhead the country's electric vehicle (EV)
journey.
     urn:newsml:reuters.com:*:nL1N3A504Q
    
    ** Qatar Sports Investments (QSI) has acquired World Padel
Tour (WPT) from its organisers Damm and unified the world's
professional tour under one entity, QSI said .
     urn:newsml:reuters.com:*:nL4N3A52SQ
    
    ** 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

    ** Malaysian palm oil firm Kuala Lumpur Kepong Berhad
 KLKK.KL  said  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))