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Deals of the day-Mergers and acquisitions

Published 23/08/2017, 08:03 pm
Updated 23/08/2017, 08:10 pm
© Reuters.  Deals of the day-Mergers and acquisitions

Aug 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

** Maersk Tankers, a unit of shipping group A.P. Moller-Maersk MAERSKb.CO , said it has entered into an equity agreement with U.S. hedge fund CargoMetrics, giving it access to analytical models and algorithms to better manage its tanker operations. Air Berlin's creditors are meeting for the first time as bidders jostle for position for the insolvent carrier's assets, although major progress is not expected yet, sources told Reuters. India's federal cabinet gave an "in-principle" approval for the consolidation of state-run banks by merging some of the lenders, television channels reported. Chinese state-owned Chery Automobile Co CHERY.UL aims to rely only on organic means to grow its international sales, its CEO said, underlining a strategy that is different from its private sector rivals who have either made or are considering acquisitions. South Africa's Oakbay Investments said it would sell its mining unit Tegeta for $225 million, the second sale this week in the company's portfolio of investments caught up in an influence-peddling scandal. Chinese conglomerate Fosun Group has made a foray into blockchain with an investment in the Shanghai startup behind Onchain, a local version of the much-hyped technology that underpins virtual currencies such as bitcoin. Playtech Plc PTEC.L will buy technology, intellectual property and some customer assets from ACM Group as the gambling technology company looks to build on its financials division. Australia and New Zealand Banking Group Ltd's (ANZ) ANZ.AX talks to sell its 24 percent stake in Malaysian lender AMMB Holdings (AmBank) Bhd AMMB.KL to retirement fund KWAP have been called off, people familiar with the matter said. Unlisted Norwegian savings banks Nesset Sparebank and Bud, Fraena og Hustad Sparebank late on Tuesday announced merger plans. Japan's Toshiba Corp 6502.T is prioritising talks with Western Digital WDC.O to sell its memory chip business, as negotiations with a previously preferred bidder have stalled, the Nikkei business daily reported. Malaysia's RHB Bank Bhd RHBC.KL and AmBank Holdings Bhd AMMB.KL shares climbed in early trade, a day after calling off their merger talks, saying they could not arrive at mutually acceptable terms. Online travel provider Expedia Inc EXPE.O is looking to build up its rail booking services in the United States, Chief Executive Dara Khosrowshahi said in an interview with Reuters. Germany's Osram OSRn.DE has agreed to buy U.S.-based software provider Digital Lumens for a mid-double-digit million-dollar sum, a source familiar with the matter said. The European Commission has started an in-depth investigation of Bayer's BAYGn.DE planned $66 billion takeover of U.S. seeds group Monsanto (NYSE:MON) MON.N , saying it was worried about competition in various pesticide and seeds markets.

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