October 4, 2016 / 11:51 AM / a year ago

Deals of the day- Mergers and acquisitions

Oct 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1145 GMT on Tuesday:

** Abu Dhabi National Oil Co (ADNOC) said on Tuesday it planned to consolidate the operations of two of its offshore oil companies into a new entity, as part of a bigger restructuring of the OPEC member’s main energy firm in the era of cheap oil.

** Japanese electronics components supplier Murata Manufacturing Co Ltd wants its enlarged battery business to help double automotive-related revenue when the years of rapid expansion in the smartphone market have passed, its chief executive said.

** Hong Kong tycoon Peter Woo’s Wharf Holdings Ltd has agreed to sell its telecom business to a consortium of private equity firms TPG Capital Management LP and MBK Partners Inc for HK$9.5 billion ($1.22 billion), a person familiar with the matter told Reuters on Tuesday.

** A possible merger between Spanish state-owned banks Bankia and Banco Mare Nostrum (BMN) would take place in mid-2017 once an analysis of the operation is complete, Bankia’s Chairman said on Tuesday.

** Britain’s Royal Mail Plc said on Tuesday it acquired California-based regional parcel delivery firm Golden State Overnight Delivery Service Inc (GSO) for $90 million.

** French luxury group LVMH, owner of the Louis Vuitton brand, has agreed to buy an 80 percent stake in high-tech luggage maker Rimowa for 640 million euros ($716 million), its first acquisition in Germany.

** Chinese investment company Zhejiang Rifa Holding Group has made a NZ$203 million ($148 million) bid to acquire majority control of New Zealand’s Airwork Holdings Limited, sending shares in the aviation company soaring.

Compiled by Laharee Chatterjee in Bengaluru

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