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Deals of the day-Mergers and acquisitions

Published 13/04/2021, 09:02 pm
Updated 14/04/2021, 05:54 am
© Reuters.

© Reuters.

(Adds Generali, Polska Press, Aon (NYSE:AON), Ensono and Air Canada ; Updates Toshiba)

April 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1950 GMT on Tuesday:

** Italy's biggest insurer, Generali GASI.MI , is in exclusive talks to buy assets in Malaysia belonging to French rival AXA AXAF.PA in a deal worth around 300 million euros ($358 million), two sources said. Polish PKN Orlen chief executive said a court decision to suspend the competition watchdog UOKiK's approval of the state-backed refiner's takeover of newspaper publisher Polska Press would have no impact because the deal has been completed. Insurance broker Aon's AON.N offer to sell assets in five EU countries and takeover target Willis Towers Watson's WLTW.O reinsurance arm may not be enough to address EU competition concerns, people familiar with the matter said. Buyout firm KKR & Co Inc KKR.N is nearing a deal to acquire information technology services provider Ensono from Charlesbank Capital Partners and M/C Partners for around $1.7 billion, including debt, according to people familiar with the matter. Air Canada AC.TO shares fell sharply on fears that its market value would be diluted after the Canadian government took a discounted equity stake in the flagship carrier as part of a deal for C$5.9 billion ($4.7 billion) in aid. Toshiba Corp 6502.T Chief Executive Nobuaki Kurumatani plans to step down as other board members consider his future at the industrial conglomerate amid controversy over a $20 billion buyout bid from his former employer, CVC Capital Partners, a source with knowledge of his decision said. Grab Holdings, the largest ride-hailing and food delivery firm in Southeast Asia, clinched a merger with special-purpose acquisition company Altimeter Growth Corp AGC.O securing a valuation of nearly $40 billion and paving the way for a coveted U.S. listing. Australian casino operator Crown Resorts Ltd CWN.AX said private equity giant Blackstone (NYSE:BX) Group Inc BX.N modified the conditions of a proposed $6 billion buyout, saying the target must not lose further state licenses before the deal is approved. Australia's IGO Ltd IGO.AX is exiting gold operations by selling its 30% stake in Tropicana mine to Regis Resources Ltd RRL.AX for A$903 million ($688.27 million) as it seeks to focus on its nickel and lithium ventures. IT solutions provider Dustin DUST.ST has agreed to buy Centralpoint, a seller of hardware and software in the Benelux region, for 425 million euros ($505.6 million), it said. Ingka Group, the owner of most IKEA stores worldwide, has agreed to buy a 49-percent stake in eight solar parks in Russia from Solar Systems LLC, marking its first investment in renewable energy in the country. Public Storage (NYSE:PSA) PSA.N said it had acquired smaller rival ezStorage, the operator of 48 self-storage properties in the United States, for $1.8 billion. Private-equity firm Carlyle Group Inc CG.O will be taking a majority stake in Beautycounter, valuing the U.S. cosmetics company at $1 billion. Russian online retailer Ozon OZON.O has signed an agreement to expand its financial services operations with the acquisition of Oney Bank in a cash deal of around $10 million, the company said. Singapore-incorporated merchant commerce platform Pine Labs has acquired e-commerce and fintech firm Fave in a cash and equity deal valued at over $45 million, for joint global expansion, the companies said. Ynsect has agreed a takeover of Dutch firm Protifarm, the French supplier of edible insects for animal feed said, marking a move into the food market amid rising demand for healthy, eco-friendly eating. BNP Paribas BNPP.PA has expanded its investment banking business in Switzerland, the French bank said, appointing former HSBC M&A specialist Jan Masek as its Head of Advisory for the country.

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