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Deals of the day-Mergers and acquisitions
December 23, 2016 / 11:01 AM / a year ago

Deals of the day-Mergers and acquisitions

(Adds Yildiz Holding and Orascom TMT Investments SARL)

Dec 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Malaysia’s state-owned Federal Land Development Authority (Felda) has agreed to buy a 37 percent stake in Rajawali Group’s PT Eagle High Plantations Tbk, one of Indonesia’s largest palm oil companies, for $505.4 million.

** Advent International Corp and its FSG Brazilian education company purchased Brazil’s Faculdade Cesuca university in Rio Grande do Sul state for an undisclosed price, the U.S. private equity firm said in a statement.

** Italian private equity firm Clessidra said it agreed to sell an 85 percent stake in high-end jeweler Buccellati to Chinese conglomerate Gangtai Group.

** Savanna Energy Services Corp said its board unanimously rejected an unsolicited buyout offer from fellow oilfield services provider Total Energy Services Inc as it “significantly” undervalued the shares of the company.

** Prestige Brands Holdings Inc, which distributes household and cleaning products in the United States and Canada, said it would buy women’s healthcare products maker C.B. Fleet Co for $825 million in cash from private equity firm Gryphon Investors.

** Russian mobile operator Megafon has agreed to pay $740 million to buy a controlling stake in internet group from billionaire Alisher Usmanov, who is an investor in both companies.

** Australia’s Tatts Group rejected a takeover bid worth up to A$7.3 billion ($5.27 billion) from a consortium backed by KKR and Macquarie Group, saying it preferred an earlier offer from Tabcorp Holdings Ltd.

** Dutch insurer Delta Lloyd has reached agreement to be taken over by bigger rival NN Group, the two companies announced on Friday, after NN nudged up its earlier unsolicited offer by 1.9 percent to 2.5 billion euros ($2.61 billion).

** Belgium’s Ontex Group NV said it had entered into an agreement to acquire the personal hygiene business of Brazil’s Hypermarcas SA for an enterprise value of 1 billion reais ($304.28 million).

** China’s HNA Tourism Group late on Thursday announced a mandatory takeover bid for Rezidor Hotel Group, offering 34.86 Swedish crowns ($3.78) per share for the company.

** Philippine property to banking conglomerate Ayala Corp said two groups of companies in which its energy unit has stakes will acquire Chevron’s geothermal assets in Indonesia and the Philippines, earlier valued at $3 billion.

** Turkish food giant Yildiz Holding said it has sold a $400 million stake in biscuit maker Ulker to its London-based holding company, to which it has moved its core biscuit, chocolate and confectionery businesses.

** Orascom TMT Investments SARL will have two of nine seats on Oi SA’s board if its binding offer to buy the Brazilian telephone carrier succeeds, Karim Nasr, the executive who is leading the talks, said in an interview. (Compiled by Komal Khettry and Divya Grover in Bengaluru)

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