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Deals of the day-Mergers and acquisitions

Stock Markets Jul 29, 2017 11:10
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© Reuters. Deals of the day-Mergers and acquisitions

(Adds Michael Kors, Linde , and others)

July 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1940 GMT on Friday:

** Glencore (LON:GLEN) said on Thursday it had signed agreements to buy a 49 percent stake in coal mines in Australia's Hunter Valley for just over $1.1 billion, getting a share of assets it was expected to miss out on to China's Yancoal YAL.AX . Mobile telecoms firm Hutchison Drei Austria 0001.HK is buying landline-focused Tele2 TEL2b.ST from its Swedish owner for 95 million euros ($111 million) to create a rival to Mexican tycoon Carlos Slim's Telekom Austria TELA.VI . IAG ICAG.L Chief Executive Willie Walsh said that a reshaped alliance between Delta, Air France-KLM and Virgin was unlikely to change much in the industry, adding that it was too early to say what the impact of the arrangement would be. JX Nippon Oil and Gas Exploration Corp 5020.T said that its United Kingdom-based subsidiary has agreed to sell a stake in a North Sea oil field to Faroe Petroleum Ltd FPM.L . The China Investment Corp sovereign wealth fund is arranging a 6.8 billion euro ($7.96 billion) loan to fund its acquisition of European warehouse firm Logicor, people with direct knowledge of the matter told Thomson Reuters publication Basis Point. Abraaj Group, the Dubai-based private equity firm, is looking to invest in midsize companies in Turkey and could spend $30-$100 million on individual deals, a senior executive told Reuters. Nomura Holdings Inc 8604.T said it had sold all its shares of its stake in Jafco Co 8595.T back to the venture capital firm, as the Japanese brokerage seeks to shift capital into areas where it sees more growth. U.S. retailer Michael Kors KORS.N is betting that its acquisition of storied shoemaker Jimmy Choo will give sales a much-needed boost, but lingering problems at Kors' core bag business could delay potential benefits. The planned $74 billion merger of German industrial gases group Linde LING.DE and U.S. peer Praxair (NYSE:PX) PX.N is on course, with regulators expected to finish reviewing offer documents by mid-August, Linde said. Beijing Sanyuan Foods Co Ltd 600429.SS and Chinese conglomerate Fosun Group plan to buy French margarine maker St Hubert for 625 million euros ($733 million), the companies said. LetterOne Investment Holdings has bought a 3 percent stake in Spanish supermarket chain DIA DIDA.MC and has an option to buy a further 7 percent, the fund said, positioning it to become one of the budget grocery store's biggest shareholders. Emerson Collective, a U.S. nonprofit led by philanthropist and investor Laurene Powell Jobs, will buy a majority stake in The Atlantic, the U.S. publisher said. The Ukrainian central bank said it had refused to approve the sale of the Ukrainian subsidiaries of two Russian banks that had been put up for sale after Kiev imposed sanctions on Moscow. The shareholders of the company set up to run Brazil's Viracopos airport, ABV SA, has authorized its executive to seek to sell the concession, citing lower-than-expected passenger traffic, the company said in a statement.

Deals of the day-Mergers and acquisitions

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