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Deals of the day-Mergers and acquisitions

Published 22/10/2019, 12:30 am
© Reuters.  Deals of the day-Mergers and acquisitions
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(Adds Unizo Holdings, Dragon Oil, Yduqs, Hudson's Bay Co, KKR; Updates BNP Paribas (PA:BNPP))

Oct 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** Australia's Seven West Media Ltd SWM.AX said it has agreed to sell Marie Claire-publisher Pacific Magazines to Germany-based Bauer Media for A$40 million ($27.4 million). CITIC Pacific Ltd said it will offer to buy Dah Chong Hong Holdings Ltd 1828.HK for HK$3.02 billion ($385.1 million) to "re-engineer" the businesses of the motor and consumer products distributor for improved competitiveness. Mitsubishi Corp 8058.T has handed over the full ownership of an iron ore expansion and rail and port infrastructure project in Western Australia to China's state-owned Sinosteel, the Japanese conglomerate said. German-Spanish wind energy company Siemens Gamesa SGREN.MC to buy selected European assets from insolvent German wind turbine manufacturer Senvion SENG.DE for 200 million euros ($223.04 million). French bank BNP Paribas has obtained a 22.5% stake in wealth management platform Allfunds in the latest sign of asset managers looking to trim costs in the face of rising regulatory expenses and pressure on fees from investors. Unizo Holdings said it would continue talks with Blackstone (NYSE:BX) Group BX.N and SoftBank-backed 9984.T Fortress Investment Group on a potential takeover. Dragon Oil Ltd has acquired BP's BP.L stake in Gulf of Suez Oil Company (GUPCO) in Egypt, the Dubai-based company said on Monday. Private equity groups including Cinven and Blackstone are vying to buy KKR-owned KKR.N LGC Group in a deal that could value the British scientific measurement and testing company at as much as 2.5 billion pounds, people close to the matter said. Candy Ventures, an investment vehicle of luxury property developer Nicholas Candy, said it was in early-stage talks for a possible cash offer for property manager Capital & Counties Properties Plc (Capco) CAPCC.L . GlaxoSmithKline GSK.L will sell two travel vaccines to Bavarian Nordic BAVA.CO for up to 955 million euros ($1.1 billion), the British firm said. Temasek Holdings TEM.UL has offered to take control of Keppel Corp KPLM.SI in a S$4.1 billion ($3 billion) deal that will shore up support for the conglomerate. Norway's sovereign wealth fund has bought a logistics property in the London suburb of Greenford together with investment partner Prologis PLD.N , the fund's manager, Norges Bank Investment Management said.

** Brazilian education company Yduqs YDUQ3.SA said it has bought rival Adtalem Brasil Holding SA for 1.92 billion reais ($467 million) as it continues to pursue acquisitions. Hudson's Bay Co HBC.TO said it has agreed to a higher offer from a group of shareholders led by its Executive Chairman Richard Baker to take the struggling Canadian department store chain private. Royal Dutch Shell RDSa.L plans to sell its onshore upstream assets in Egypt's Western Desert to focus on expanding its Egyptian offshore gas exploration, Shell Egypt said on Sunday. France-based telecoms group Orange ORAN.PA to sell its business in Niger, a company spokesman said on Sunday.

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