(Adds Hapag-Lloyd, ArcelorMittal, Novo Banco, Advent and Third
Point; updates Linde, Odebrecht and Zodiac)
May 24 The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Wednesday:
** General Electric signed a 1 billion riyal ($267
million) joint venture agreement with Saudi Arabia's
state-backed Dussur industrial development company to
manufacture gas turbines in the eastern city of Dammam.
** Westpac Banking Corp said it plans to divest of
its 29 percent stake in BT Investment Management Ltd (BTIM)
, in a sale that would bolster the lender's capital base
and add to its cash balance as it faces a new tax.
** South Korea's SK Hynix Inc said it has
decided to spin off its chip foundry business into a separate
** Microsoft has agreed to acquire cyber security
firm Hexadite for $100 million, Israeli financial news website
** Private equity firm Apollo Global Management LLC
is in advanced talks to acquire U.S. job-hunting website
CareerBuilder LLC after negotiations with another buyout firm
ended unsuccessfully, according to people familiar with the
** Struggling commodity trader Noble Group Ltd
said it was still in discussions with various potential
strategic parties as it sought to regain market confidence, but
its shares fell 11 percent in early trade.
** Geely, the owner of Sweden's Volvo Car Group,
said it would buy 49.9 percent of struggling Malaysian carmaker
Proton from conglomerate DRB-HICOM Bhd, marking the
Chinese automaker's first push into Southeast Asia.
** Emaar Malls will buy a 51 percent stake in
e-commerce fashion website Namshi from Global Fashion Group, a
firm backed by Rocket Internet, for $151 million, a
sign of growing demand for tech deals in the Middle East.
** Danish utility and offshore wind farm developer DONG
Energy has agreed to sell its oil and gas business
to petrochemicals firm Ineos for $1.3 billion, it said, the
latest in a string of North Sea deals.
** Sunrise Communications plans to boost its 2017
dividend after agreeing to sell 2,239 telecom towers for 500
million Swiss francs ($512 million) to a consortium led by
Cellnex, the Swiss company said.
** Finnish mobile game maker Supercell has acquired a
majority stake in London-based game studio Space Ape, the
British company said on its website.
** Saudi Aramco (IPO-ARMO.SE) plans an investment of up to
$30 billion in its U.S. subsidiary Motiva Enterprises LLC
, the company said in an announcement at a business
summit in Saudi Arabia.
** Mining and commodities trading group Glencore Plc
would prefer to grow its business through acquisitions
rather than greenfield investment, its chief executive said.
** German industrial gases group Linde and U.S.
peer Praxair have reached a deal in principle on details
of their proposed $70 billion merger, Linde said.
** CF Corp, a blank check company founded by
veteran dealmaker Chinh Chu, said it would buy U.S. annuities
and life insurer Fidelity & Guaranty Life in an all-cash
deal valued at about $1.84 billion.
** Zodiac Aerospace's board has accepted a 15
percent cut in a takeover offer from aero engine maker Safran
to create the world's third largest aerospace supplier
after a string of profit warnings from the aircraft seat maker.
** France's Safran is cutting its core cash offer
for Zodiac Aerospace by 15 percent to 25 euros per
share as part of a restructured proposal to buy the aircraft
seats maker, whose shares have been hit by recent profit
** Europe's conventional electricity market will see more
mergers and acquisitions as companies hunt a bigger share of a
shrinking market, E.ON's chief executive said.
** U.S.-based software firm Ebix Inc will pay 8
billion rupees ($120 million) for a majority stake in Indian
payment provider ItzCash, the companies said, the latest foreign
investment in India's booming digital payments market.
** Engineering conglomerate Odebrecht SA expects
aviation regulator Anac to approve the sale of its stake in
Brazil's second-busiest international airport to HNA Airport
Holding Group Co Ltd within 90 days, newspaper Valor
** U.S. grains trader Bunge Ltd said on Tuesday it
was not in talks with Swiss mining and commodities group
Glencore Plc, after the latter said it had made an
informal approach to discuss "a possible consensual business
** JBS, the world's largest meatpacker, and its
controlling shareholders, facing financial fallout from a
corruption scandal, have hired Banco Bradesco SA's investment
banking unit to work on a plan to sell several assets, three
people with direct knowledge of the situation said on Tuesday.
** Constellation Brands Inc, maker of Corona and
Modelo beers, has offered to buy Jack Daniel's owner
Brown-Forman Corp, CNBC reported on Tuesday, citing
people with knowledge of the matter.
** Hapag-Lloyd and Arab sector peer UASC are
focused on speedy integration, Hapag's chief executive said
after the German company announced completion of their delayed
merger to creates the world's fifth-biggest shipping company.
** ArcelorMittal, the world's largest steel
producer, said it has agreed to make concessions to Steel
Authority of India to seal a delayed $897 million
automotive joint venture.
** Italian coffee maker Lavazza said it had bought 80
percent of Kicking Horse Coffee in a deal valuing the Canadian
company at C$215 million ($160 million).
** Portugal's finance minister is confident that the
country's planned sale of Novo Banco to U.S. private equity firm
Lone Star will go ahead as planned, the minister said.
** Private equity firms Advent and Permira are not planning
to tie up with Shanghai Pharmaceuticals to make a
counter bid for German generics drugmaker Stada Arzneimittel
, four people familiar with the matter told Reuters.
** Activist investor Daniel Loeb's Third Point LLC said Dow
Chemical and DuPont could unlock $20 billion in
additional value by tweaking their plan to split into three
companies following their merger.
(Compiled by Gayathree Ganesan and Divya Grover in Bengaluru)