October 16, 2018 / 10:12 AM / a month ago

Deals of the day-Mergers and acquisitions

Oct 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** German luxury carmakers Daimler and BMW have offered concessions to address EU antitrust concerns about their plan to combine their car-sharing businesses, the European Commission said.

** Sev.en Energy will modify its offer for Czech CEZ’s Pocerady coal-fired power plant, the company’s chief executive Lubos Pavlas told reporters.

** Japanese oil refiner Idemitsu Kosan finalised a deal to buy out Showa Shell Sekiyu through a share swap in a transaction worth about $5.6 billion.

** Amazon.com Inc is likely to buy at least 7 percent to 8 percent stake in India’s Future Retail Ltd through an investment arm, CNBC-TV 18 reported, citing sources.

** Spanish utility Iberdrola said it had agreed to sell its stake in its conventional generation assets, held by the company Scottish Power, to Drax for around 801 million euros ($927 million) as part of its asset rotation plans.

** Sweden’s Ambea said it was buying rival Aleris’ care operations - primarily nursing homes and assisted living - in Sweden, Denmark and Norway for an estimated 3 billion crowns ($334.9 million).

** Singapore sovereign wealth fund GIC is taking a minority stake in Denmark-based Nordic Aviation Capital (NAC), the world’s largest lessor of regional aircraft said in a statement.

** The world’s biggest miner BHP, nearly doubled its stake in SolGold Plc, bolstering its influence alongside top shareholder Newcrest Mining as it eyes SolGold’s promising Cascabel copper-gold project in Ecuador.

** Brazil’s for-profit education company Kroton Educacional SA sees “a lot of room” for more acquisitions following a series of deals, Chief Executive Officer Rodrigo Galindo told journalists.

** Cloud technology company Twilio Inc said it would buy email technology firm SendGrid Inc in an all-stock deal valued at about $2 billion, combining two firms that handle communications between apps and their users. (Compiled by Mary Ann Alapatt in Bengaluru)

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