Deals of the day-Mergers and acquisitions

Xxl AS

06/12/2024 14:43

(Adds: CEAT, Updates: Frasers, Aviva, Guardian, JD Logistics)
       Dec 6 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1430 GMT on Friday:

    ** India's CEAT  CEAT.NS  said it would buy French tyremaker
Michelin's  MICP.PA  Camso brand for $225 million, as it looks
to expand into higher-margin tyres at a time when elevated
rubber prices have eaten into its profits.
     urn:newsml:reuters.com:*:nL3N3N70TD
    
    ** British sportswear and fashion group Frasers  FRAS.L  
launched a bid for Norwegian sporting goods retailer XXL ASA
 XXL.OL , saying it did not agree with the Oslo-listed company's
plan to issue more shares.
     urn:newsml:reuters.com:*:nL2N3N705J
    
    ** Britain's Guardian said it had agreed to sell The
Observer to startup Tortoise Media, which sought to overcome
staff opposition by pledging to revive the world's oldest Sunday
newspaper as a strong voice in liberal journalism.
     urn:newsml:reuters.com:*:nL5N3N70FW
    
    ** British insurer Aviva  AV.L  has agreed to buy smaller
rival Direct Line  DLGD.L  in a sweetened 3.61 billion pound
($4.60 billion) cash-and-stock deal that will create the UK's
largest home and motor insurer.
     urn:newsml:reuters.com:*:nL3N3N70G2
    
    ** China's JD Logistics  2618.HK  will acquire the 36.43%
stake it does not already own in Kuayue-Express Group for not
more than 6.48 billion yuan ($892 million) to further enhance
express delivery offerings, the logistics services firm said .
     urn:newsml:reuters.com:*:nL3N3N70MY]

    ** Singapore's Aelios, owned by billionaire couple Gordon
and Celine Tang, on Thursday launched a mandatory general offer
to buy shares in Suntec Real Estate Investment Trust SUNT.SI
that valued the REIT at S$3.39 billion ($2.53 billion).
     urn:newsml:reuters.com:*:nL3N3N60WR

 (Compiled by Rajarshi Roy and Aamir Sohail in Bengaluru)
 ((Aamir.sohail@thomsonreuters.com))