Deals of the day-Mergers and acquisitions

Wirtualna Polska Holding SA

29/01/2025 14:38

(Adds: WP Holding, Spirit Airlines, Patria  Updates: Volvo
Cars)
       Jan 29 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on
Wednesday:

        ** Swedish electric-vehicle battery maker Northvolt
agreed with Volvo Cars  VOLCARb.ST  to sell its stake in their
joint battery venture Novo Energy for an undisclosed sum and
explore potential collaborations in North America.
  
         urn:newsml:reuters.com:*:nL5N3OP0RQ
  
    
        ** Polish businessman Michal Solowow and media group WP
Holding  WPPL.WA  have made offers to buy Polish broadcaster TVN
from Warner Bros Discovery Inc  WBD.O , private broadcaster
Radio Zet reported.
  
         urn:newsml:reuters.com:*:nL5N3OP1GE
  
    
        ** Spirit Airlines  SAVEQ.PK  said it has rejected a bid
from rival Frontier Group  ULCC.O  as it was not favorable for
the low-cost carrier and expects to exit bankruptcy in the first
quarter.
  
         urn:newsml:reuters.com:*:nL3N3OP0UE
  

        ** Patria has acquired Belgium-based Ilias Solutions for
an undisclosed sum in a deal the Finnish defence group believes
will allow it to lead the way in the digitisation of Europe's
defence industry.
  
         urn:newsml:reuters.com:*:nL5N3OO1W7
  

    ** Carmaker Stellantis  STLAM.MI , brands of which include
Fiat, Peugeot and Vauxhall, said it had agreed to buy full
control of its joint venture with Belgium's Punch Powertrain,
strengthening its position in hybrid vehicle technology.
     urn:newsml:reuters.com:*:nL5N3OP0QE

    ** Detroit-based American Axle and Manufacturing (AAM)
 AXL.N  will buy GKN Automotive owner Dowlais  DWL.L  in a
cash-and-stock deal, valuing the London-listed firm at about
1.16 billion pounds ($1.44 billion), the companies said.
     urn:newsml:reuters.com:*:nL3N3OP0DO
    
    ** Miner Anglo American  AAL.L  said it had completed the
sale of its 33.3% stake in Jellinbah Group to Zashvin Pty Ltd
for total cash proceeds reaching A$1.6 billion (nearly $1
billion).
    urn:newsml:reuters.com:*:nL3N3OP0EB

    ** Zimmer Biomet  ZBH.N  said it would acquire medical
device company Paragon 28  FNA.N  for about $1.1 billion to
expand its portfolio of orthopedic surgical devices.
     urn:newsml:reuters.com:*:nL3N3OO1SD

    ** World Insurance Associates has acquired the business of
Brooklyn, New York-based HML Brokerage, a deal the company
completed on 1 September 2024 but has only just announced.
     urn:newsml:reuters.com:*:nL6N3OO0JE
    
    ** Utah-based Trucordia has acquired Cada Insurance
Services, a provider of auto, home, commercial, general
liability, and workers' compensation solutions with Louisiana
offices in Baton Rouge, Chalmette, Gretna, and Kenner.
     urn:newsml:reuters.com:*:nL6N3OO0JB
    
    ** Italy's gas grid operator Snam  SRG.MI  will sell its
minority stake indirectly held in ADNOC Gas Pipelines to Abu
Dhabi-based investment fund Lunate, Snam said.
     urn:newsml:reuters.com:*:nL5N3OO0GU
    
    ** Spirits giant Diageo  DGE.L  has agreed to sell its 80.4%
shareholding in Guinness Ghana to Castel Group for $81 million,
it said, continuing to refine its operating model in Africa.
     urn:newsml:reuters.com:*:nL2N3OO0NC

 (Compiled by Rajarshi Roy and Kritika Lamba in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;))