Deals of the day-Mergers and acquisitions

YAMADA HOLDINGS

12/12/2019 11:02

(Adds Ageas, 3M Co, Ichigo Asset Management, Constellation
Brands; updates Bangkok Bank)
    Dec 12 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 2100 GMT on Thursday:

    ** Brazilian state-controlled oil company Petrobras SA
 PETR4.SA  said it has begun the sale process for its 10% stake
in natural gas pipeline company TAG, according to a securities
filing.  urn:newsml:reuters.com:*:nE6N25P02L
    
    ** Japanese electronics retailer Yamada Denki will pay more
than 4 billion yen ($36.8 million) for a majority stake in
furniture seller Otsuka Kagu and make it a subsidiary, Diamond
Online reported.  urn:newsml:reuters.com:*:nL4N28M15N
    
    ** Japanese electronics retailer Yamada Denki Co  9831.T 
will take over home furnishing store Otsuka Kagu  8186.T , the
companies said, after the furniture chain struggled to compete
with cheaper rivals and to overcome a family-and-boardroom feud.
 urn:newsml:reuters.com:*:nL4N28M190
    
    ** Haier, the world's biggest maker of household appliances,
is planning a major restructuring that will see its main unit,
Haier Smart Home  600690.SS , list in Hong Kong to take another
group company valued at $7.7 billion private, two people with
direct knowledge of the matter said.  urn:newsml:reuters.com:*:nL4N28K0NW
    
    ** Commodities trader Vitol  VITOLV.UL  has signed a 10-year
deal with Nigeria Liquefied Natural Gas (NLNG) to buy 500,000
tonnes of LNG per year, ramping up its long-term presence in the
market.  urn:newsml:reuters.com:*:nL8N28M1KA
    
    ** Bangkok Bank  BBL.BK , Thailand's third-largest lender by
assets said it had agreed to buy an 89.1% stake in Indonesia's
PT Bank Permata  BNLI.JK  for about $2.7 billion, in the first
major overseas acquisition for a Thai bank.  urn:newsml:reuters.com:*:nL4N28M2TM
    
   ** Industrial conglomerate 3M Co  MMM.N  said it would sell
its drug delivery business to investment firm Altaris Capital
Partners LLC for about $650 million as part of its plan to shed
non-core assets.  urn:newsml:reuters.com:*:nL4N28M3NF
    
    ** Constellation Brands Inc  STZ.N  said it has revised its
agreement with E. & J. Gallo Winery to sell a part of its wine
portfolio at about $1.1 billion.  urn:newsml:reuters.com:*:nL4N28M3JV
   
    ** Japanese asset manager Ichigo Asset Management is likely
to take a nearly 50% stake in Japan Display Inc  6740.T  when it
invests in the struggling Apple Inc AAPL.O supplier, a person
with knowledge of the deal said.  urn:newsml:reuters.com:*:nL4N28M39U
    
    ** Belgian insurer Ageas  AGES.BR  and Swiss rival Helvetia
 HELN.S  have advanced to the final stages of an auction for
Spain's Caser Seguros that values the 77-year old insurer at
about 1 billion euros, sources told Reuters.  urn:newsml:reuters.com:*:nL8N28M5FJ
    

    
    ($1 = 108.6400 yen)

 (Compiled by Saumya Sibi Joseph in Bengaluru)
 ((saumya.joseph@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 80 6749 2290; Twitter: @SaumyaSibi;))