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Deals of the day-Mergers and acquisitions

Published 04/09/2020, 08:14 pm
Updated 04/09/2020, 11:48 pm
© Reuters.
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ENGIE
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VIE
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CABK
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SEVI
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BKIA
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VAH
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(Adds Louis Dreyfus; Updates Caixabank)

Sept 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1340 GMT on Friday:

** Caixabank and state-owned Bankia are set to agree a merger to create Spain's biggest domestic lender in the coming days, two sources told Reuters, in a deal expected to lead to hefty job losses and kick off a new wave of industry consolidation. Commodity trader Louis Dreyfus Corp LOUDR.UL is in talks to sell a stake to Abu Dhabi sovereign wealth fund ADQ, Bloomberg News reported, citing people familiar with the matter. Norwegian consumer goods supplier Orkla ORK.OL will buy a 67.8% stake in Indian food group Eastern Condiments Private Limited, doubling its sales in India, Orkla said. Virgin Australia Holdings Ltd's VAH.AX creditors voted in favour of the purchase of Australia's second-biggest airline by U.S. private equity group Bain Capital, administrator Deloitte said, paving the way for a strategic overhaul. ByteDance, the owner of popular short-video app TikTok, said it has acquired a Chinese third-party payment service UIPay in a bid to leverage its domestic payment capability. French water and waste management company Veolia's VIE.PA offer for Engie's ENGIE.PA stake in rival Suez SEVI.PA is too low, Engie's chairman said, cranking up the pressure on the bidder.

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