June 26, 2017 / 10:05 AM / a month ago

Deals of the day-Mergers and acquisitions

6 Min Read

(Adds General Motors, Naspers, Acea, Berkshire Hathaway, Richardson International, Alibaba Group, DESFA, Toshiba Corp, Rosneft, Stada, Bankia and Couche-Tard)

June 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:

** General Motors Co now expects the charge for its sale of Opel to Peugeot SA to reach $5.5 billion versus its previous estimate of $4.5 billion due to additional costs associated with the deal, a top executive said.

** Russian billionaire Mikhail Fridman's L1 Retail has agreed to buy Britain's Holland & Barrett for 1.77 billion pounds ($2.26 billion) in its first acquisition, betting on continued growth and expansion abroad for the health foods chain.

** Building materials supplier Martin Marietta Materials Inc agreed to buy privately held Bluegrass Materials Co for about $1.63 billion in cash to expand into mid-Atlantic region.

** South Africa's Naspers does not plan to spin off its $114 billion stake in Tencent, its boss said, a push back against investors urging a break-up to close a widening discount between its market value and that of its one-third stake in the Chinese internet company.

** Japan's Takata Corp, the firm at the center of the auto industry's biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it had agreed to be largely acquired for $1.6 billion by the Chinese-owned U.S.-based Key Safety Systems.

** Israeli flavour and fine ingredients company Frutarom Industries said on Sunday it acquired 80 percent of SDFLC Brasil Indústria E Comércio Ltda for 110 million real ($33 million).

** German plastic extrusions maker Surteco has agreed to buy Portuguese PVC edgbandings maker Probos from private equity firm Alantra for 99 million euros ($111 million) in cash, it said in a statement on Saturday.

** Lufthansa sees no limit to the number of planes and crews it could lease from Air Berlin, its chief executive told German newspaper Bild am Sonntag, amid criticism that support for its ailing rival is a stealth takeover attempt.

** New Zealand pay television provider Sky Network TV said it was terminating a sales agreement to buy Vodafone's local unit, a deal the country's competition regulator had ruled against.

** A proposed merger between two banks in southern Japan will likely be delayed for a second time over monopoly concerns, sources said, highlighting the difficulty regional banks face in trying to consolidate to survive the shrinking market.

** Oslo-listed oil tanker firm Frontline is no longer pursuing a takeover of New York-listed competitor DHT Holdings and is not working on any other acquisitions, Frontline's CEO told Reuters.

** Three Australian business magnates plan to financially support Ten Network Holdings until it finds a buyer, the TV broadcaster's administrator said, adding that there had been "quite a number" of expressions of interest from potential acquirers.

** German insurer Allianz expects to book a loss of around 200 million euros ($224 million) from the sale of private bank Oldenburgische Landesbank to U.S. private equity firm Apollo, it said on Sunday.

** Wal-Mart Stores Inc is not actively considering making an offer for Whole Foods Market Inc, a source familiar with the matter told Reuters on Friday.

** Rio Tinto confirmed Yancoal Australia as the preferred buyer for its Australian Coal & Allied unit after the China-backed company added an eleventh-hour sweetener to top a rival bid from Glencore.

** Israeli energy conglomerate Delek said its planned sale of a controlling stake in Israeli insurer Phoenix Holdings to China's Fujian Yango Group has been called off by both sides after it failed to secure regulatory approval.

** Western Digital Corp has told Toshiba Corp that it will not agree to a sale of the Japanese conglomerate's prized memory chip unit to a preferred bidding consortium that includes rival chipmaker SK Hynix Inc .

** Italy's Open Fiber is close to sealing a deal with utility Acea to use its infrastructure in Rome to roll out ultrafast broadband in the capital, two sources close to the matter said.

** Richardson International, one of Canada's largest grain handlers, said that it had purchased European Oat Millers in a deal that expands its geographic reach.

** Berkshire Hathaway Inc has taken a nearly 10 percent stake in the real estate investment trust Store Capital Corp, adding to bets in the sector by the conglomerate controlled by billionaire Warren Buffett.

** The head of Italy's BIM said he was confident the private banking group would be sold on the market quickly following the decision to liquidate its main shareholder Veneto Banca.

** Shares in Italian online fashion retailer Yoox Net-A-Porter were up almost 8 percent on Monday as traders cited reported interest from Chinese e-commerce giant Alibaba Group .

** Greece relaunched a tender for the sale of a majority stake in its natural gas grid operator DESFA, the country's privatization agency said.

** The field of prospective bidders for Japanese conglomerate Toshiba Corp's Swiss-based smart meter group Landis+Gyr has narrowed to two, three banking sources said.

** Alimentation Couche-Tard Inc has won U.S. antitrust approval to buy rival CST Brands Inc on condition that it sell up to 71 stores in eight states, the Federal Trade Commission said.

** Bankia and mid-sized bank BMN are holding board meetings to discuss a potential merger deal that would create a new entity with total assets of around 230 billion euros, two sources with knowledge of the deal said.

** Private equity groups Bain Capital and Cinven failed to win the required shareholder acceptances to take over German generic drugmaker Stada, the companies said in a statement.

** Russian oil company Rosneft is ready to accept any other "adequate" collateral from Sistema in a legal dispute instead of the shares in some of the assets which have been arrested, RIA newsagency reported. (Compiled by John Benny and Divya Grover in Bengaluru)

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