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Deals of the day-Mergers and acquisitions

Published 24/03/2018, 07:09 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Daisy Group, Parmalat , Tiger Global, Reliance Industries , Atlantia )

March 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Private equity firms including CVC Capital Partners are eyeing bids for Daisy Group in an auction that could value the British telecoms business at about 1 billion pounds ($1.41 billion), banking sources told Reuters. Australian toll road developer Transurban Group TCL.AX said it will buy the A25 toll road and bridge in Canada from Macquarie Infrastructure Partners for C$840 million ($650 million), plus transaction costs of C$18 million. RWE RWEG.DE and E.ON EONGn.DE are not planning to merge to create an energy giant after they shook up the German market with an asset swap, the chief executives of the two companies said in a newspaper interview published. Steve Wynn, the former chief executive of Wynn Resorts Ltd WYNN.O , has disposed his entire 11.8 percent stake in the firm for $2.1 billion in a dramatic exit of the casino and hotel enterprise he founded over 16 years ago. Italian infrastructure group Atlantia ATL.MI said it had decided to exercise an option to buy all or part of the shares in Spanish telecoms masts group Cellnex owned by Abertis ABE.MC for between 21.20-21.50 euros per share. Oil-to-telecoms conglomerate Reliance Industries RELI.NS is buying a stake in Indian music streaming service Saavn and will merge it with its JioMusic app to create a new entity it said would be valued at $1 billion. Tencent Holdings Ltd's 0700.HK shares fell more than 4 percent on Friday, wiping out around $23 billion of market value, after the Chinese internet firm's largest shareholder, Naspers Ltd NPNJn.J , lowered its stake for the first time in 17 years. Austria's Laudamotion will provide up to eight crewed aircraft to Lufthansa's LHAG.DE low-cost carrier Eurowings until the end of May, Niki Lauda's repurchased and rebranded carrier said. Philippines' Robinsons Retail Holdings Inc RRHI.PS is acquiring the Manila food retailer of Dairy Farm International Holdings Ltd DAIR.SI in a deal valued at 18 billion pesos ($343.6 million) through a share swap. Chinese conglomerate CEFC had already started paying for a stake in Russian oil giant Rosneft when authorities took its chairman Ye Jianming away, halting the $9.1 billion deal in its tracks, according to three sources close to the matter. Rupert Murdoch's Twenty-First Century Fox FOXA.O has changed the group of banks lined up to help finance its proposed takeover of European pay-TV company Sky SKYB.L , replacing Bank of America (NYSE:BAC) BAC.N with Citibank C.UL . Belgium's Elia ELI.BR said it had decided to exercise its pre-emptive right to buy a 20 percent stake in German high-voltage energy network operator 50Hertz for 976.5 million euros ($1.2 billion), beating China's State Grid. GlaxoSmithKline GSK.L has withdrawn from the race to buy Pfizer's PFE (NYSE:PFE).N consumer healthcare business, endangering an auction the U.S. drugmaker hoped would bring in as much as $20 billion. Britain's Melrose MRON.L , trying to buy GKN GKN.L in a 7.8 billion pound ($11 billion) hostile takeover, is lifting a self-imposed deadline for approval by U.S. authorities to enable the acquisition to conclude should shareholders back it next week. U.S. investment firm Tiger Global Management is in the process of buying $50 million worth of shares of online asset management startup Wealthfront, a source familiar with deal said. Tata Steel TISC.NS has offered to pay a little more than 350 billion rupees ($5.4 billion) to lenders of Bhushan Steel & Power BSSL.NS to take over the bankrupt steelmaker, a source with direct knowledge of the deal said. Italian dairy group Parmalat PLT.MI is ready to grab new M&A opportunities around the world to strengthen its presence in overseas markets where it already operates, Chief Executive Officer Jean-Marc Bernier said.

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