June 1, 2018 / 10:36 AM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds Stanbic, REPAY, KKR, Richemont)

June 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday: ** The European Commission said it had cleared ABB’s acquisition of General Electric’s Industrial Solutions business, saying it would not raise competition concerns. ** China’s markets regulator said it is still reviewing Qualcomm Inc’s proposed $44 billion acquisition of NXP Semiconductors NV and is in talks with Qualcomm about ways to eliminate negative impact from the deal. ** India’s Fortis Healthcare said its board would look at a new round of bids from four local and international parties, after shareholders opposed a previous board decision last month to accept an offer from a consortium. ** Japan’s Toshiba Corp said it had completed the $18 billion sale of its chip unit to a consortium led by U.S. private equity firm Bain Capital. ** Bank of Nova Scotia said it would buy MD Financial Management, a financial services company for Canadian doctors, in a C$2.59 billion ($2.00 billion) all-cash deal. ** China’s Pengxin International Mining Co Ltd is in advanced talks to buy Indonesian gold and silver mine Martabe from a consortium led by EMR Capital, for about $1.5 billion, the Wall Street Journal reported, citing sources.

** China’s markets regulator said it is still reviewing Qualcomm Inc’s proposed $44 billion acquisition of NXP Semiconductors NV and is in talks with Qualcomm about ways to eliminate negative impact from the deal. ** Metair has offered to buy Slovenian car battery maker Tovarna Akumulatorskih Baterij (TAB) in a $350 million deal that would expand the South African auto parts maker’s energy storage business. ** Some 1.14 billion shares of Stanbic IBTC Holding were sold at 53.75 naira each, the stock exchange said on Friday in a block deal valued at about $195 million. ** Realtime Electronic Payments (REPAY) is exploring a sale that could value the private equity-owned provider of payment services to the consumer finance industry at up to $900 million, including debt, people familiar with the matter said. ** Private equity firm KKR & Co LP wants to buy divisions from Japanese companies seeking to streamline their businesses in the world’s third-largest economy, co-Chief Executive Henry Kravis said on Friday. ** Swiss luxury goods group Richemont SA said on Friday it is to buy Watchfinder.co.uk Limited, in another sign that luxury watchmakers are trying to tap into a fast-growing market for pre-owned timepieces. (Compiled by Akshara P and Diptendu Lahiri in Bengaluru)

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