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Deals of the day- Mergers and acquisitions
June 1, 2017 / 10:04 AM / 6 months ago

Deals of the day- Mergers and acquisitions

(Adds Deere & Co, O1, MKB Bank; Updates Immofinanz, RHB Bank, PPG Industries)

June 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1400 GMT on Thursday:

** Deere & Co said it would buy privately held German company Wirtgen Group for about $4.88 billion to expand its road construction operations as it looks to cut down its dependence on slowing farm business.

** Russian investment group O1 is looking to bid for five Moscow shopping centres that Austrian real estate company Immofinanz is in the process of selling or spinning off, two sources with knowledge of the matter said.

** Businessmen close to Prime Minister Viktor Orban have emerged as the biggest shareholders of MKB Bank less than a year after Hungary’s fifth-largest lender was privatised.

** BNP Paribas Personal Finance has bought SevenDay Finans AB, a Swedish consumer credit business, as part of plans to expand in the region in personal finance.

** U.S. paints and coatings maker PPG Industries has dropped its attempt to buy Dutch rival Akzo Nobel in a 26.3 billion euro ($29.5 billion) deal, stung by repeated rejections from the company, legal defeats and hostility from Dutch politicians.

** German automaker Daimler said it will become a minority shareholder in its Chinese joint venture partner Beijing Automotive Group’s (BAIC Group) electric vehicle subsidiary.

** Austrian property group Immofinanz told shareholders it plans to finish the delayed sale or spin-off of its Russia portfolio by the end of the year.

** Malaysia’s RHB Bank and AMMB Holdings (AmBank) are starting merger talks to form a group worth about $9 billion, in what is likely to be the nation’s biggest banking deal.

** Major Credit Suisse investor Qatar Investment Authority (QIA) has increased its stake in the Swiss bank to 5.01 percent of shares, Credit Suisse said.

** Net1 UEPS Technologies will invest 2 billion rand ($153 million) for a 15 percent stake in debt-ridden South African mobile operator Cell C, scaling back its commitment in the original deal to take over the company.

** China Shanshui Cement Group Ltd, at the centre of a bitter boardroom battle involving investors and executives, said that a major shareholder had offered to divest its 25 percent stake for around $600 million.

** Barclays cut its stake in Barclays Africa Group to 15 percent sooner than expected, ending more than 90 years as a major presence in the continent.

** Japanese investment bank Nomura Securities bought about $100 million worth of Venezuelan government bonds last week as part of the same transaction that has landed Goldman Sachs Group Inc in the middle of a political storm, two sources said.

** Japan’s SoftBank Group Corp will let the $14 billion merger between its satellite startup OneWeb and peer Intelsat SA fall through, after failing to get enough of Intelsat creditors to back it, people familiar with the matter said on Wednesday.

** Reddi-wip whipped cream owner Conagra Brands Inc has approached Pinnacle Foods Inc, the maker of packaged foods such as Vlasic pickles, to express interest in an acquisition, people familiar with the matter said on Wednesday. (Compiled by Akankshita Mukhopadhyay in Bengaluru)

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