August 30, 2018 / 11:09 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds Air China, Par Pacific Holdings; Updates Campbell, Idea Cellular, Stryker)

Aug 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday: ** Medical device maker Stryker Corp said it will buy smaller rival K2M Group Holdings Inc for about $1.4 billion, adding K2M’s fast-growing spinal implant technology to its business. ** France is to create a state-owned bank and insurer focused on the country’s rural areas by merging La Poste’s banking arm with insurer CNP Assurances. ** Israel’s Delek Group said it had sold a 4.9 percent stake in insurer Phoenix Holdings for 253 million shekels ($70 million). ** Eiffage plans to bid to operate the Lille airport in northern France in a privatization process to be launched in the second half of this year, Chief Executive Officer Benoit de Ruffray said. ** Russia’s anti-monopoly agency said that it had proposed that U.S. oilfield services giant Schlumberger extend its offer to acquire Russia’s Eurasia Drilling Co (EDC) as the offer expires on Sept. 1, the Interfax news agency reported. ** Campbell Soup Co said it plans to sell its international and fresh refrigerated-foods units and left open the possibility of putting the whole company up for sale, following a months-long review and pressure from a hedge fund to sell itself outright. ** Australia’s TPG Telecom Ltd agreed to a merger with Vodafone Group’s Australian business, easing competition in the cut-throat sector and buying scale to take on bigger rivals Telstra Corp Ltd and Optus. ** Australia’s Northern Star Resources Ltd said it will acquire an underground gold mine in the United States for $260 million from Sumitomo Metal Mining Co and Sumitomo Corp. ** Australia’s competition regulator cleared a bid led by Transurban Group for a controlling stake in Sydney’s A$16 billion ($11.66 billion) WestConnex toll-road project after the company pledged to publish key traffic data. ** British energy providers SSE and Innogy’s Npower received provisional approval to merge their retail units from Britain’s Competition and Markets Authority (CMA). ** France plans to merge CNP Assurances and La Poste’s banking arm to create a financial group that would offer banking and insurance services mainly in rural areas, Finance Minister Bruno Le Maire said. ** Bertelsmann hopes to complete a deal to sell its call-centre business this autumn, CEO Thomas Rabe said, as he overhauls the German publishing group in the face of disruption from big U.S. internet platforms. ** Actis, a leading emerging market investor, has bid to buy the bulk of the private equity funds’ business of stricken Dubai-based Abraaj, two sources familiar with the matter said. ** Erste Group Bank wants to buy out minority shareholders in its Czech lender Ceska Sporitelna to take full control of the profitable unit. ** Severn Trent Plc said it would buy organic waste recycler Agrivert Holdings Ltd for 120 million pounds ($156.1 million), as the British water utility aims to expand its renewable energy business. ** Sinclair Broadcast Group Inc filed a counterclaim to a lawsuit by Tribune Media Co seeking $1 billion for what Tribune said was a breach of contract over a proposed merger. ** Air China Ltd, said it would sell a 51 percent stake in Air China Cargo to a sister unit for 2.44 billion yuan ($357 million) to focus more on its passenger unit, as it reported a 4.3 percent rise in first-half profit. ** Idea Cellular and Vodafone have cleared the last regulatory hurdle to merge their operations in India, a source told Reuters, opening the way for the creation of a new market leader in the fiercely competitive country. ** Par Pacific Holdings Inc said it would acquire assets from its rival Island Energy Services in Hawaii and expand its fuels production. ** The Brazilian government will approve the tie-up between Boeing Co and Embraer SA, which is still under President Michel Temer’s mandate, but only after the October presidential elections, Brazilian Defense Ministry Joaquim Silva e Luna said. (Compiled by Manogna Maddipatla in Bengaluru)

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