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Deals of the day-Mergers and acquisitions

Published 30/08/2019, 06:01 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Hilton Grand Vacations, Philadelphia Energy Solutions, AngloGold Ashanti, Aleris)

Aug 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Germany's BASF BASFn.DE said it agreed to sell its global pigments business to Japanese fine chemical company DIC 4631.T for 1.15 billion euros ($1.28 billion) on a cash and debt-free basis. Apollo Global Management APO.N and Athene Holding ATH.N said they would buy PK AirFinance, an aircraft lending business that is a part of GE Capital's aviation services unit for an undisclosed amount. Canadian tour operator Transat A.T. Inc TRZ.TO said on Thursday that the Superior Court of Quebec had approved its sale to Air Canada AC.TO in a C$720 million ($542.37 million) deal.

** Hilton Grand Vacations Inc HGV.N has decided to explore strategic alternatives, including a potential sale, following acquisition interest in the U.S. timeshare operator from private equity firms, people familiar with the matter said Troubled refiner Philadelphia Energy Solutions said it has started a process to solicit interest from potential suitors for the company or its assets. Sony Corp 6758.T said it would sell its 5% stake in Olympus Corp 7733.T back to the Japanese endoscope maker for 80.4 billion yen ($762.88 million), a move that was called for by Daniel Loeb's activist hedge fund Third Point LLC. Struggling football pitch operator Goals Soccer Centres Plc GOAL.L said it has started a process to invite bids for its business and assets, just weeks after it disclosed accounting issues stretching back to almost a decade. German chemicals group BASF BASFn.DE said it agreed to sell its pigments business to Japanese printing ink maker DIC corp 4631.T for 1.15 billion euros ($1.28 billion) on a cash and debt-free basis. Malaysia's Axiata Group Bhd AXIA.KL said its planned merger with Norwegian telecoms peer Telenor ASA TEL.OL is on track, after local media reported the deal may have hit a snag. Australia's Crown Resorts CWN.AX said it had been informed that a planned $1.2 billion stake sale by casino mogul James Packer to Melco Resorts & Entertainment MLCO.O had been delayed. U.S. aluminium producer Novelis NVLXC.UL is set to secure EU antitrust approval for its $2.6 billion bid for Aleris TXPACA.UL , people familiar with the matter said. The chief executive of South African mining company Sibanye-Stillwater SGLJ.J said that the firm has a non-disclosure agreement with AngloGold Ashanti regarding AngloGold's Mponeng mine, suggesting Sibanye may be interested in the asset.

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