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Deals of the day-Mergers and acquisitions

Published 31/07/2018, 06:31 am
Updated 31/07/2018, 06:31 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Updates US Foods Holding Corp and T-Mobile US; Adds Societe Generale , Vivendi , Vedanta Resources , Petrofac, John Laing Infrastructure Fund)

July 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Monday:

** The New York State Public Service Commission said it revoked its approval of the 2016 merger agreement between Charter Communications Inc CHTR.O and Time Warner Cable, saying Charter failed to build out its network for enough homes and that the company must end its operations in the state. Institutional Shareholder Services Inc, a shareholder advisory firm whose recommendations are followed by major mutual funds, said Rite Aid Corp RAD.N investors should vote down its $24 billion merger with Albertsons Cos. British betting group GVC Holdings Plc GVC.L , which owns the Coral, Ladbrokes (LON:LCL) and Sportingbet brands, said on Saturday it was in advanced talks about a joint venture with U.S. hotel and casino operator MGM Resorts MGM.N . Israel's Bank Leumi LUMI.TA expects to complete the 2.5 billion shekel ($685 million) sale of its credit card unit Leumi Card to Warburg Pincus WP.UL by the end of the year, bank executives said. British travel company Thomas Cook TCG.L is considering splitting off its airline and selling a stake to an outside investor to reduce debt, the Sunday Times newspaper reported. Talks on the potential acquisition of a stake in Saudi Basic Industries Corp 2010.SE are taking place solely between national oil firm Saudi Aramco and the kingdom's top sovereign wealth fund, SABIC's chief executive officer said. Australian hospital operator Healthscope Ltd HSO.AX said it would sell its Asian pathology business to private equity giant TPG Capital Management LP TPG.UL to cut debt and bankroll growth plans, months after rejecting two buyout approaches. Two Chinese firms have bid for New Zealand honey maker Manuka Health, pricing the firm around $300 million, a source with direct knowledge of the sale said. Altice Europe ATCA.AS said it had agreed to sell its Dominican Republic telecoms towers to Phoenix Tower International in a deal valuing the business at $170 million, as the telecoms and cable group continues to shed assets to cut debt. French insurer CNP CNPP.PA , which has been the subject of merger speculation, reiterated its annual earnings growth targets as it posted higher interim net profits. European online food delivery firm Takeaway.com TKWY.AS said it signed a deal to buy Israeli online ordering company 10bis from TA Associates and founder Tamir Carmel for 135 million euros ($157 million) in cash. Hyatt Hotels H.N has backed away from launching a takeover of NH Hotels NHH.MC , days after a rival bidder Minor MINT.BK revealed it controlled 44 percent of the Spanish group. Food distribution company US Foods Holding Corp USFD.N said it would buy SGA's Food Group of Cos for $1.8 billion in cash and reported disappointing second-quarter sales, sending its shares down 15 percent. Family-owned Erwin Hymer Group has attracted interest from private equity as it explores a stock market flotation which could value the German mobile home manufacturer at up to 3 billion euros ($3.51 billion), people close to the matter said. Germany is open to foreign direct investment, a German government spokeswoman said, despite its move last week to prevent China's State Grid from acquiring a 20 percent stake in high-voltage transmission network operator 50Hertz. Private equity firm KKR and Co KKR.N said it will form a joint venture with pipeline company Williams Cos Inc WMB.N to buy Discovery Midstream from TPG Growth for about $1.2 billion. Brazil's state-run oil company Petroleo Brasileiro SA PETR4.SA has initiated the binding phase related to the sale of 100 percent of rights to explore, develop and produce oil and gas at its Polo Sergipe Terra 2 onshore field. British asset and wealth manager Schroders SDR.L said it would transfer its Eastern European private banking activities to Swiss private bank CBH Compagnie Bancaire Helvetique SA (CBH) for an undisclosed sum. Budget carrier Norwegian Air NWC.OL has applied for traffic rights in Brazil with a view to possible flights from London, spokesman Lasse Sandaker-Nielsen said. Bulgaria's solar energy producer Inercom has launched a court challenge against an anti-monopoly regulator's ruling to block its acquisition of the Bulgarian assets of Czech utility CEZ CEZP.PR , the company said. T-Mobile US TMUS.O named Nokia NOKIA.HE to supply it with $3.5 billion in next-generation 5G network gear, marking the world's largest 5G deal so far and solid evidence of a new wireless upgrade cycle starting to take root. Societe Generale SOGN.PA said it had agreed to sell its private banking unit in Belgium to Dutch bank ABN AMRO ABNd.AS as part of its strategy to dispose of operations that lack critical size and potential for synergies within the group. VIV.PA is considering selling up to half of its UMG music division to one or several strategic partners, ending months of speculation about a potential stock market listing of the unit, whose value soared on booming streaming revenues. Billionaire Anil Agarwal has been given more time to make a firm offer or walk away from a deal to buy out minority shareholders in Vedanta Resources VED.L for 778 million pounds ($1 billion), the London-listed miner said. British oilfield services provider Petrofac Ltd PFC.L said it had agreed to sell 49 percent of its operations in Mexico to Perenco (Oil & Gas) International Ltd, as it prepares to scale back oil and gas production. Investors owning around 10 percent of John Laing Infrastructure Fund JLIF.L think a possible cash buyout offer valuing the company at 1.41 billion pounds ($1.85 billion) is too low, according to a source familiar with the matter.

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