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Deals of the day- Mergers and acquisitions
February 2, 2015 / 11:11 AM / 3 years ago

Deals of the day- Mergers and acquisitions

Feb 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Monday:

** Irish building supplies groups CRH has agreed to pay 6.5 billion euros ($7.37 billion) for assets that rivals Lafarge and Holcim needed to sell to secure regulatory approval for their planned merger.

** Airbus plans to take control of the European missile company MBDA after Italian defence group Finmeccanica put its stake up for sale, Britain’s Sunday Times newspaper reported.

** Hedge fund Standard General LP is in talks to serve as the lead bidder at a bankruptcy auction for RadioShack Corp , the struggling consumer electronics retailer, the Wall Street Journal reported on Sunday, citing people familiar with the matter.

** Food distributor Sysco Corp and its biggest rival, US Foods Inc, have offered to sell a smaller competitor 11 facilities in order to convince skeptical antitrust regulators to approve their $3.5 billion merger, a source briefed on the matter told Reuters.

** Intel has agreed to buy German network chipmaker Lantiq for an undisclosed amount to expand its range of chips used in Internet-connected gadgets, the companies said on Monday.

** Egypt’s Global Telecom (GTH) will sell a 51 percent stake in Djezzy for $2.6 billion while keeping operational control of the Algerian mobile operator, Global said on Sunday.

** British insurance broker Towergate Insurance said on Monday that it had sold itself to its senior secured creditors as part of a deal to slash its 1.04 billion pound ($1.56 billion) debt pile by nearly two-thirds.

** India’s IDFC Ltd said it may buy a small equity stake in a payments bank planned by local retailer Future Group, subject to the retailer winning a licence from the central bank.

** Poland’s second largest telecoms operator Netia is forming a partnership with the country’s No.4 mobile operator Play, a Netia spokesman said on Monday.

** Sunac China Holdings Ltd will buy two units of troubled Chinese property developer Kaisa Group and acquire majority stakes in two others in a $385 million deal, both companies said on Sunday. ($1 = 0.8814 euros) (Compiled by Anannya Pramanick in Bengaluru)

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