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Deals of the day-Mergers and acquisitions

Published 23/02/2021, 10:00 pm
© Reuters.
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(Adds Finint, Osum Oil Sands, Monte dei Paschi, Atlantia , Phoenix Group, Agthia Group )

Feb 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Finint is working on a plan that would see the Italian investment bank and other investors buy a 10% stake in insurer Cattolica CASS.MI , two sources close to the matter said. Osum Oil Sands said its board had withdrawn its recommendation that shareholders reject the all-cash offer by private equity firm Waterous Energy Fund for a bigger stake in the Canadian energy company, days after it raised the offer price. Italian Prime Minister Mario Draghi's new government aims to deal with problem bank Monte dei Paschi BMPS.MI by pushing ahead with plans to re-privatise the loss-making lender, a source close to the matter said. A consortium of investors led by Italian state lender Cassa Depositi e Prestiti (CDP) is expected to approve a binding offer for Atlantia's ATL.MI 88% stake in motorway unit Autostrade per l'Italia, two sources close to the matter said. Insurer Phoenix Group PHNX.L will take on the Standard Life brand from asset manager Standard Life Aberdeen (SLA) SLA.L and sell back some of the businesses it bought from SLA as the pair simplify their partnership. Abu Dhabi-listed food and drinks group Agthia Group AGTHIA.AD is looking into making more acquisitions to turn the company into one of the region's top players in the food and beverage industry, its chief executive said. Italy has given Square Inc (NYSE:SQ) SQ.N , the mobile payments firm of Twitter TWTR.N co-founder Jack Dorsey, and China's Tencent 0700.HK a conditional green light to invest in Italian start-up Satispay, a source close to the matter told Reuters. Suez SEVI.PA minority investor CIAM plans to push for the replacement of nearly half the company's board at its annual shareholder meeting amid a takeover tussle with rival Veolia, a spokesman for the activist fund said. Australia's biggest gas pipeline company, APA Group APA.AX , has expanded its long-running search for gas infrastructure acquisitions in the United States to include companies that own electricity networks, its chief executive said. India's Reliance Industries Ltd RELI.NS expects to hive off its oil-to-chemicals (O2C) business into a 100% subsidiary in the September quarter, the company said, paving the way for a stake sale in the new company. Italy's state lender Cassa Depositi e Prestiti (CDP) wants to raise its stake in Open Fiber to 60% to seize control of the broadband company, sources said, as Rome presses ahead with plans to boost ultra-fast connectivity across the country. Swiss financial infrastructure group SIX is taking a majority stake in Orenda Software Solutions, a Canadian artificial intelligence (AI) platform specialising in environmental, social and governance (ESG) and alternative data sets, SIX said. French energy group Total TOTF.PA has agreed to sell off stakes in some wind and solar farms to Credit Agricole Assurances CAGR.PA and Banque des Territoires, which Total said would boost its cash flow and return on equity. British private security group G4S (CSE:G4S) GFS.L urged shareholders to accept Allied Universal's 3.8 billion pound ($5.4 billion) final offer after the end of the U.S. bidder's drawn-out takeover battle with Canada's GardaWorld. Aviva AV.L has agreed the sale of its operations in France for 3.2 billion euros ($3.89 billion) to Macif's Aéma Groupe, as part of the British insurer's shift to focus on its core operations in Britain, Ireland and Canada. Novo Holdings, majority shareholder in Danish diabetes drug developer Novo Nordisk NOVOb.CO , will acquire Canadian early drug development services firm Altasciences from Audax Private Equity. Australia's SEEK Ltd SEK.AX plans to split its job listings and investments businesses and cut its stake in Chinese unit Zhaopin in a shake-up that would see co-founder Andrew Bassat give up his chief executive role. Sibanye-Stillwater Ltd SSWJ.J said it has agreed to invest in a European lithium company Keliber Oy, marking the South African miner's entry into battery metals sector. Australia's AMP Ltd AMP.AX and former suitor U.S.-based Ares Management ARES.N are close to agreeing a joint venture that would give the American fund control of its asset management business AMP Capital, a source with knowledge of the deal said. Wells Fargo (NYSE:WFC) & Co WFC.N said it had agreed to sell its asset management business, which manages more than $603 billion on behalf of customers, to private equity firms GTCR LLC and Reverence Capital Partners for $2.1 billion. Cosmetics maker Estee Lauder (NYSE:EL) Cos Inc EL.N said it had offered about $1 billion to take control of DECIEM Beauty Group Inc, the parent company of Ordinary skincare brand. Brazilian development bank BNDES has closed out its stake in miner Vale SA VALE3.SA , selling 188.5 million shares and raising around 11 billion reais ($2 billion), the bank confirmed in a statement. German laboratory supplier Ritter Medical is exploring options including a partial sale as its family owners seek a partner to finance its global expansion plans, people close to the matter said.

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