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Deals of the day-Mergers and acquisitions

Published 19/07/2018, 06:20 am
Updated 19/07/2018, 06:20 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Paulson, Abraaj, Walt Disney, Alibaba (NYSE:BABA), Sabanci, Aramco, Hellenic Petroleum, Saur)

July 18 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Paulson and Co, a hedge fund run by activist investor John Paulson, said Detour Gold DGC.TO had received a buyout offer from another gold miner, sending the Canadian company's shares up 13 percent. Several potential buyers have emerged for Middle East buyout firm Abraaj's investment management business as a revised offer from previous frontrunner Colony Capital was rejected, say sources familiar with the matter. Britain's takeover regulator said that it would review its ruling that Walt Disney DIS.N might have to acquire UK broadcaster Sky SKYB.L for at least 14 pounds a share. Chinese e-commerce giant Alibaba Group Holding Ltd BABA.N said it has agreed to acquire a minority stake in China's Focus Media Information Technology Co Ltd 002027.SZ to tap into the digital marketing sector. Turkey's Sabanci Group SAHOL.IS is considering the sale of three of its cement factories, Kayseri, Nigde and Ladik, two sources close to the matter said. Saudi Arabia's government is considering a plan under which Aramco would buy a stake in Saudi petrochemical maker SABIC 2010.SE , a move that could boost the state oil giant's market valuation ahead of a planned initial public offering. Greece has shortlisted Anglo-Swiss Glencore (LON:GLEN) and Swiss Vitol to submit a binding bid for a majority stake in the country's biggest oil refiner Hellenic Petroleum HEPr.AT , its privatisation agency said. Shareholders of French water firm Saur will choose a buyer for the group by the end of this month, a spokesman for the company said. U.S. building product makers NCI Building Systems Inc NCS.N and privately-held Ply Gem Parent LLC said on Tuesday they will merge in an all-stock deal, creating a company with an equity valuation of about $2.6 billion. China's iQiyi Inc IQ.O , often likened to U.S. streaming giant Netflix (NASDAQ:NFLX), has snapped up domestic game maker Skymoons in a deal that could be worth nearly 2 billion yuan ($298.59 million) as it looks to broaden its offerings following a U.S. listing. Australia's Bega Cheese Ltd BGA.AX said it has agreed to buy a dairy processing facility at Koroit in Victoria state from Saputo Inc 's SAP.TO local arm for A$250 million ($184.5 million). A joint venture between Brazilian miner Vale SA VALE3.SA and utility Companhia Energética de Minas Gerais CMIG4.SA is considering acquiring an unfinished wind park from Renova Energia SA RNEW11.SA , three people familiar with the matter told Reuters on Tuesday. Rupert Murdoch's News Corp NWSA.O and Fairfax Media Ltd FXJ.AX , Australia's two top newspaper companies, agreed to share printing presses as shrinking advertising sales prompt a once-unthinkable alliance between the arch rivals. Brazilian center-left presidential candidate Ciro Gomes said on Tuesday that he would undo a $4.75 billion joint venture planned by Boeing (NYSE:BA) Co BA.N and Brazilian planemaker Embraer SA EMBR3.SA if he wins this year's election. Brazilian state-run oil company Petroleo Brasileiro SA PETR4.SA opened the path to a future sale of its Transpetro SA shipping and pipeline unit via a by-law change approved at a June shareholders' meeting, a paper reported. Brazilian energy company Renova Energia SA RNEW11.SA is continuing the sale process for its unfinished Alto Sertao III wind farm in the state of Bahia after talks with a unit of Brookfield Asset Management SA BAMa.TO fell apart, the firm said on Tuesday, and "various" firms have made non-binding offers. China General Nuclear Power Corporation (CGN) has acquired a 75 percent stake in a Swedish wind power project from Australia's Macquarie Group and GE Energy Financial Services, state news agency Xinhua reported. Italian infrastructure fund F2i is in pole position to enter exclusive talks to buy Terra Firma's solar assets in Italy, one source close to the matter said. Turkish private equity company Turkven said that international investors it represents have bought a majority stake in the Turkish packaging company, Elif Holding. Sinclair Broadcast Group Inc said it will abandon bids to divest three stations in an effort to win approval for its $3.9 billion acquisition of Tribune Media Co TRCO.N after the Federal Communications Commission chairman said he had "serious concerns about the deal."

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