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Deals of the day-Mergers and acquisitions

Published 20/11/2019, 08:00 am
Updated 20/11/2019, 08:07 am
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Atlantia , Alitalia, doValue, Alpha Bank , Thomas Cook, Galeria Karstadt Kaufhof)

Nov 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Finland's Kone KNEBV.HE has proposed paying a multi-billion euro break-up fee to Thyssenkrupp TKAG.DE in an effort to improve its chances in an auction for the German conglomerate's elevator business, three people familiar with the matter said. Italy's biggest loan recovery firm doValue DOVA.MI has emerged as the strongest bidder for Eurobank's EURBr.AT loan servicing unit, sources familiar with the matter told Reuters, a deal critical for the turnaround of Greece's third largest lender. Alpha Bank ACBr.AT reported lower third-quarter profits after higher bad debt provisions and said it would launch a big securitisation of soured loans to clean up its balance sheet. The German retailer Galeria Karstadt Kaufhof has agreed to take on 106 travel agencies as well as the German online platform of insolvent travel firm group Thomas Cook. Italian infrastructure group Atlantia ATL.MI said it was not ready to join a consortium led by Italian railway group Ferrovie dello Stato to rescue loss-making carrier Alitalia CAITLA.UL , casting a shadow on the entire project. U.S. discount store operator TJX Companies Inc (NYSE:TJX) TJX.N has acquired a 25% stake in Russian low-cost apparel retailer Familia for $225 million, the Russian company said in a statement. Novartis NOVN.S is considering an offer for U.S. biotechnology firm The Medicines Co MDCO.O , Bloomberg reported, a deal that could broaden the Swiss drugmaker's cabinet of heart medicines and shore up growth threatened by patent expirations. U.S. hedge fund York Capital is leading a trio of firms that is considering buying a minority stake in Turkish generic drug maker Sanovel, according to three people with knowledge of the talks that could lead to a deal. The majority of unions representing workers at Peugeot maker PSA PEUP.PA are in favour of a planned $50 billion merger with Fiat Chrysler FCHA.MI , PSA executives and union representatives said. Shares in Germany's TLG Immobilien TLGG.DE rose 1.9% in early trading after the firm said it would merge with Aroundtown SA AT1.DE in an all-share deal to create a commercial real estate company with 25 billion euros ($27.68 billion) in assets. The British Government has indicated it is likely to allow Advent's $5 billion purchase of defence company Cobham COB.L after the U.S. private equity group offered a number of commitments to address national security concerns. Baring Private Equity Asia has agreed to acquire Lumenis from London-based investment firm XIO Group in a deal that values the Israeli medical device maker at more than $1 billion. Russian internet company Mail.Ru MAILRq.L and state lender Sberbank SBER.MM have finalised the terms of a joint food and taxi platform and plan to invest 64.6 billion roubles ($1 billion) in the business, Mail.Ru said. NZME Ltd NZM.NZ , the owner of New Zealand's top-selling newspaper, said it was in talks with Nine Entertainment Co Holdings NEC.AX to buy rival news firm Stuff and has made a proposal to New Zealand's government about a possible transaction. KKR & Co. KKR.N has tapped Hong Kong's CK Infrastructure Holdings Ltd 1038.HK and buyout groups including Blackstone (NYSE:BX) BX.N and Sweden's EQT AB EQTAB.ST to gauge buying interest for Singapore-based Goodpack, an intermediate bulk container maker, multiple sources with knowledge of the matter said. Italy's UBI Banca UBI.MI expects to present a new bancassurance partnership in the three-year business plan it will present in the first quarter of next year, the bank's chief executive Victor Massiah told Il Sole 24 Ore. Israeli real estate investment firm Gazit Globe GZT.TA said it was establishing a joint venture with its Toronto-based director Dori Segal to buy and manage mixed-use properties in Canada, particularly in Toronto.

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