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Deals of the day-Mergers and acquisitions

Published 19/03/2019, 07:01 am
Updated 19/03/2019, 07:01 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Commerzbank; updates Fidelity National, L&T, easyJet)

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

** Goldman Sachs (NYSE:GS) GS.N and Citi C.N are helping Germany's two biggest lenders, Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE , work on their potential $28 billion-plus merger, people close to the matter said. Commerzbank CBKG.DE management wants to decide on whether to go ahead with a potential merger with Deutsche Bank DBKGn.DE in the next 2 to 3 weeks, two sources with knowledge of the matter said. Potential bidders for troubled Italian lender Carige CRGI.MI are in touch with the European Central Bank ahead of an April 15 deadline to submit possible offers, a source close to the matter said. LGT LGTGFB.UL , the private bank owned by Lichtenstein's princely family, is on the lookout for acquisitions to boost its business, it said. The due diligence process on Kuwait Finance House's KFH.KW move to buy Bahrain's Ahli United Bank AUBB.BH may take two to three months, KFH Chairman Hamad Abdulmohsen al-Marzouq said. A potential merger between Deutsche Bank DBKGn.DE and rival Commerzbank CBKG.DE does not signal a new wave of banking consolidation in Europe, the chairman of Italy's biggest retail lender Intesa Sanpaolo ISP.MI said. Mexico's America Movil, AMXL.MX which controls telecom operator Claro in Brazil, said that it will acquire 100 percent of rival Nextel's Brazil operation, allowing for consolidation in the country's already crowded sector. British budget airline easyJet EZJ.L pulled out of talks to rescue Alitalia, leaving the Italian carrier's future uncertain only two weeks before a deadline to save it. Italian oil services company Saipem Spa SPMI.MI is trying to lure big U.S. rivals into joint ventures but has so far failed to secure deals for stakes in drilling operations valued at up to 1.5 billion euros, six sources told Reuters. Macquarie Group Ltd's MQG.AX asset management business said it agreed to sell its 36 percent stake in Brussels Airport Co to a consortium of Queensland Investment Corp, Swiss Life SLHN.S , and APG Asset Management, MIRA said. The German insurer Allianz ALVG.DE is investigating combining its asset management business with DWS DWSG.DE , which is mostly owned by Deutsche Bank DBKGn.DE , Bloomberg reported. Deutsche Bank DBKGn.DE and Commerzbank CBKG.DE faced concerns from workers unions, Chancellor Angela Merkel's office and top shareholders after confirming merger talks. U.S. casino operators Eldorado Resorts Inc ERI.O and Caesars Entertainment Corp CZR.O are in the early stages of exploring a merger, people familiar with the matter said. Principal Financial Group Inc PFG.O is in advanced talks to acquire Wells Fargo (NYSE:WFC) & Co's WFC.N retirement plan services business, in a deal that could exceed $1 billion, people familiar with the matter said. Fidelity National Information Services Inc FIS.N said it has agreed to buy Worldpay WP.N for about $35 billion, with the U.S. financial services provider striking the biggest deal to date in the fast-growing electronic payments industry. JD Sports Fashion Plc JD.L has agreed to acquire Footasylum Plc FOOT.L in a deal valued at up to 90 million pounds ($119.6 million), only half of what the sportswear retailer was valued at when it went public in late 2017. The newly appointed chief executive officer of Walmart (NYSE:WMT) Inc's WMT.N Japanese supermarket chain Seiyu denied the business was up for sale, following reports last year that the U.S. retail giant was looking for a buyer. Indian conglomerate Larsen & Toubro (L&T) LART.NS is buying a 20.32 percent stake in IT services company Mindtree MINT.NS for 32.69 billion rupees ($476.57 million), it said. Flush with cash after selling its cards business, Swiss exchange operator SIX is on the hunt for takeovers, it said while reporting a sharp jump in 2018 profit.

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