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Deals of the day-Mergers and acquisitions

Published 24/09/2020, 08:30 pm
Updated 25/09/2020, 06:00 am
© Reuters.

(Adds Suez, Allianz, El Al Israel Airlines, Fortum ; updates E.W. Scripps)

Sept 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** French market regulator AMF said it had not come to the conclusion a "pre-offer" had been launched on Suez SEVI.PA shares, the French utility fighting off a hostile bid by local rival Veolia VIE.PA . A consortium of German insurer Allianz ALVG.DE and life insurer Athora Holding is in advanced talks to buy Aviva 's AV.L French operations in a deal worth between 2 and 3 billion euros ($2.3-$3.5 billion), sources close to the matter said. El Al Israel Airlines ELAL.TA is opposing the purchase of a controlling stake by religious student Eli Rozenberg, alleging he is a front man for his father, who is not an Israeli citizen as required by law, according to a letter from its lawyers. Finnish state-controlled utility Fortum FORTUM.HE has put its district heating assets in Poland and the Baltic states up for sale as it seeks to streamline its business, people close to the matter said. Buyout group CVC Capital Partners CVC.UL is starting preparations for a sale of its Polish utility PKP Energetyka in a deal potentially worth up to 1.8 billion euros ($2.1 billion), people close to the matter said. U.S. office-sharing firm WeWork said it will sell control of its China division to one of its investors - private equity firm Trustbridge Partners - as it steps back from a competitive market where it has suffered low-occupancy rates. Chinese state-backed investors are considering taking BMW's BMWG.DE main Chinese joint-venture partner Brilliance China Automotive Holdings Ltd 1114.HK private, five people with knowledge of the matter told Reuters, in the latest such deal targeting beaten down Hong Kong-listed stocks. Japan's Hitachi Transport System 9086.T said it and delivery firm SG Holdings 9143.T had decided to scrap a four-year-old capital tie-up, citing the need for greater flexibility in the coronavirus era. E.W. Scripps Co SSP.O said it has agreed to buy broadcaster ION Media for $2.65 billion as the TV station owner, backed by Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc BRKa.N , scales up operations to counter a rise in online streaming. Royal Dutch Shell PLC RDSa.L is looking to sell its 45% stake in the Malampaya gas-to-power project in the Philippines, a key power source for the country's main island of Luzon, its local unit said on Thursday. ChargePoint Inc, one of the world's oldest and largest electric vehicle charging networks, said it will go public by merging with Switchback Energy Acquisition Corp SBE.N in a deal that values the company at $2.4 billion. Veolia VIE.PA will not rule out increasing the price it has offered for a stake in rival French utility Suez SEVI.PA , CEO Antoine Frerot said in a radio interview. Japan's Mitsubishi UFJ Lease 8593.T said it would buy smaller rival Hitachi Capital Corp 8586.T in a deal calculated at 294 billion yen ($2.8 billion). British roadside recovery group AA AAAA.L said it was in discussions with a consortium consisting of Towerbrook Capital Partners and Warburg Pincus about a possible all-cash offer. A consortium including Bain Capital said it was offering to buy specialty paper maker Ahlstrom-Munksjo Oyj AHM1.HE in a deal valuing the Finnish firm at around 2.1 billion euros ($2.45 billion). Encounter Resources ENR.AX said it signed an option pact with BHP Group BHP.AX to give the global miner a stake of up to 75% in its Elliot Copper project after completion of a joint validation programme.

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