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Deals of the day-Mergers and acquisitions

Published 06/07/2017, 12:06 am
Updated 06/07/2017, 12:10 am
© Reuters.  Deals of the day-Mergers and acquisitions
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(Adds Tomorrow Holdings, Felda Global Ventures, Holland & Barrett, Halliburton (NYSE:HAL), Petronas Dagangan ; Updates Haldex , Lufthansa, Worldpay Group, Vocus Group)

July 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 14:00 GMT on Wednesday:

** Private equity firm Odyssey Investment Partners LLC has agreed to acquire CPI International Inc, a U.S. manufacturer of circuits used in radars and satellites, from Veritas Capital Management LLC, another buyout firm, for more than $800 million, including debt, people familiar with the matter said on Monday. EU antitrust regulators have not sought feedback on German car parts maker Knorr-Bremse's STELLG.UL concessions to try to win approval for its Haldex HLDX.ST bid, suggesting the deal is destined for an in-depth investigation. Spanish power and gas company Gas Natural GAS.MC has approached Portuguese rival EDP EDP.LS about merging to form Europe's fourth biggest utility by market value, people familiar with the matter said on Monday. A Brazilian Supreme Court justice rejected an appeal from the world's largest meatpacker, JBS SA JBSS3.SA , to overrule a lower-court ruling that halted the sale of $300 million worth of South American assets to Minerva SA BEEF3.SA , according to a court document. Activist investor Keith Meister's Corvex hedge fund and New York's 40 North have taken a 7.2 percent stake in Clariant CLN.S to fight the Swiss chemical maker's planned merger with Huntsman Corp HUN.N . Brookfield Asset Management Inc BAMa.TO placed on Monday a formal bid for control of Renova Energia SA RNEW11.SA , which would include 800 million reais ($242 million) in fresh capital for the Brazilian renewable energy company, two people with knowledge of the situation said. Toshiba Corp 6502.T has asked a U.S. court to dismiss a Western Digital Corp WDC.O request for an injunction to prevent a sale of the Japanese firm's chip business, saying the court has no jurisdiction and that an injunction would cause irreparable harm. Private equity companies Advent and Permira are considering a fresh approach on German generic drugmaker Stada STAGn.DE , WirschaftsWoche reported, citing financial sources. Private-equity backed French clothing retailer Vivarte, which is aiming to restructure more than 1.3 billion euros ($1.5 billion)of debt, has agreed to offload its Kookai brand to Australian company Magi as part of Vivarte's ongoing sell-off programme. Greece's second-largest lender National Bank (NBG) NBGr.AT will sell more assets in the Balkans, including its Romanian operations, to complete a restructuring plan agreed with European authorities, its chief executive said on Tuesday. India's No. 3 e-commerce firm Snapdeal has rejected an initial takeover offer from its larger rival Flipkart, but talks between the two camps that have been working on forging a deal for months continue, sources close to the matter said. Worldpay Group Plc WPG.L , Britain's largest payment processor said it had agreed to terms of a potential merger with U.S. credit card technology firm Vantiv Inc VNTV.N in a deal worth 7.7 billion pounds ($9.95 billion), excluding debt. Idemitsu Kosan Co 5019.T has a good chance of sidestepping founding family opposition to a merger with Showa Shell (LON:RDSa) Sekiyu 5002.T with its $1.2 billion share offering, analysts said, a plan that sent Showa Shell shares surging on Tuesday. Tencent Holdings Ltd 0700.HK has invested around $100 million to $150 million in Indonesian ride-hailing startup Go-Jek, sources said, in another sign the Chinese tech giant was looking to tap into growth in Southeast Asia's mobile-based services. Dubai Investments DINV.DU said on Tuesday it is in initial talks to buy Union Properties's UPRO.DU stake in Emirates District Cooling LLC (Emicool), in a move to take full control of the district cooling service provider. Gambia has ended talks with African Petroleum AFPC.OL to extend oil exploration in two of the West African country's most promising offshore blocks and is now in preliminary discussions with new investors, a senior oil official told Reuters. Brazil's renewable energy company Renova Energia SA RNEW11.SA confirmed in a securities filing on Tuesday having received a formal bid from Canada's Brookfield Asset Management Inc BAMa.TO . Australian non-bank lender Pepper Group PEP.AX said it has received a A$655 million ($498 million) non-binding takeover offer from U.S. buyout firm KKR Credit Advisors LLC. Embattled Australian internet company Vocus Group Ltd VOC.AX said it will open its books for KKR & Co LP KKR.N to conduct due diligence, a sign it may accept a $1.66 billion buyout approach dismissed by investors weeks earlier as too low. British consortium GFG Alliance said it has signed a binding agreement to acquire highly indebted Australian steel company Arrium Ltd ARI.AX . A South Korean consortium backed by steelmaker POSCO 005490.KS is still interested in buying Australian steel company Arrium Ltd ARI.AX , an official at Newlake Alliance which leads the consortium told Reuters. China Vanke 2202.HK said it would make an announcement about its acquisition of assets of Guangdong International Trust Investment Corporation and asked that its shares in Hong Kong be suspended from trading. Chinese private equity firm GSR Capital is looking to buy a substantial holding in Chile's Sociedad Quimica Y Minera (SQM) SQMa.SN , one of the world's biggest lithium producers, according to two sources with knowledge of the matter. Kazakhstan's largest lender, Halyk Bank HSBK.KZ , HSBKq.L , has completed a takeover of troubled rival Kazkommertsbank KKGB.KZ , Halyk said, and will inject 185 billion tenge ($571 million) into its capital. Shares in French carmaker Renault RENA.PA edged up on Wednesday after Renault struck a deal to buy a 49 percent stake in Shenyang Brilliance JinBei Automobile company as part of its move to boost sales in China of light commercial vehicles. British online grocer Ocado OCDO.L has seen a pick-up in enquiries from U.S. supermarket groups interested in possible partnership deals in the wake of Amazon's AMZN.O $13.7 billion deal to buy Whole Foods WFM.O , its boss said. South Korea's Mirae Asset Life Insurance Co. 085620.KS will invest 1.1 trillion dong ($48.4 million) of fresh capital in Prevoir Vietnam Life Insurance, the deal's financial advisor, Nomura, said in an email sent to Reuters. An agreement signed by Lufthansa LHAG.DE and Frankfurt airport operator Fraport FRAG.DE will lower the German flagship carrier's costs by a low double-digit million euro amount, two people familiar with the matter told Reuters. Michelin MICP.PA , the tyre giant and owner of the Michelin gourmet restaurant guide, has bought a 40 percent stake in the Robert Parker Wine Advocate - the fine wine guide of influential critic Robert Parker. A new fund led by Greystar Real Estate Partners, the largest operator of apartments in the United States, will acquire luxury U.S. apartment developer Monogram Residential Trust Inc MORE.N in a deal valued at about $3 billion, the companies said. Pfizer Inc (NYSE:PFE) PFE.N has agreed to exit Laboratório Teuto Brasileiro SA for a token amount after failing to find a buyer for the 40 percent stake it held in the Brazilian generic drugmaking joint venture, two people with knowledge of the matter said. The financial empire of missing Chinese-born tycoon Xiao Jianhua - Tomorrow Holdings has put billions of dollars of investments up for sale, including stakes in a life insurer, a trust and banking assets, three people involved in the process told Reuters. Talks to sell stakes in Felda Global Ventures Holdings Berhad (FGV) FGVH.KL to two Indonesian billionaires have been suspended due to a management crisis at the world's third biggest palm plantation group, sources close to the deal said. Banks have lined up around £800m-equivalent of term loans to back UK-headquartered health food and supplements chain Holland & Barrett's buyout by Russian billionaire Mikhail Fridman's L1 Retail, banking sources said. Oilfield services provider Halliburton Co HAL.N said it would buy oilfield equipment supplier Summit ESP Inc, which is backed by Oklahoma energy and banking billionaire George Kaiser. Petronas Dagangan Berhad PETR.KL , the marketing and retailing arm of Malaysian state energy firm Petronas, on Wednesday said it has entered into an agreement to sell its liquefied petroleum gas (LPG) business in the Philippines for $124 million.

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