October 30, 2018 / 10:02 AM / 19 days ago

Deals of the day-Mergers and acquisitions

(Adds UFJ Financial Group, Sports Direct, ING Groep, Vivarte, Electricity North West)

Oct 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Japan’s Mitsubishi UFJ Financial Group is set to buy asset management operations of Australia’s largest lender Commonwealth Bank of Australia for about 300 billion yen ($2.66 billion), the Nikkei newspaper reported. ** Britain’s Sports Direct said it has purchased specialist cycling retailer Evans Cycles immediately after it fell into administration.

** Dutch bank ING Groep NV plans to sell its remaining Italian real estate leasing portfolio to Goldman Sachs as it continues to cut leasing activities outside its home markets, a document reviewed by Reuters showed.

** French fashion company Vivarte, which has lately been disposing off assets to cut debt, said on Tuesday it had agreed to sell its Chevignon brand to the Royer company and businessmen Stephane Collaert and Thierry Le Guenic.

** Electricity North West, which is owned in part by the asset management arm of JPMorgan Chase & Co, has hired advisers to conduct a strategic review and plan a 2 billion pound ($2.55 billion) sale of the company, Sky News reported. ** Japan’s Shinwa Bank and Eighteenth Bank Ltd have decided to postpone their planned merger by six months, saying they wanted to bring the dates of their merger and systems integration closer together to avoid complications for customers. ** Britain’s Restaurant Group Plc said it had acquired the Wagamama noodle chain for 357 million pounds ($457.03 million) in cash, expanding its chain of pubs and airport and shopping mall eateries. ** AstraZeneca said it would sell the European rights to acid-reflux medicine Nexium to Grunenthal for an upfront $700 million and future sales-related payments of up to $90 million as it is not in the company’s targeted therapy areas. ** Regulatory changes in Italy could pave the way to a merger with broadband company Open Fiber, Telecom Italia (TIM) Chief Executive Amos Genish told the Financial Times. ** British books, newspaper and stationery seller WH Smith took a step into U.S. airports by buying digital accessories retailer InMotion for 155 million pounds ($198.40 million). ** Lufthansa has no interest in participating in a government-led restructuring of Italian carrier Alitalia, Chief Executive Carsten Spohr said. ** The Indian government is considering putting Infrastructure Leasing and Financial Service Ltd (IL&FS) up for sale or divesting some of its assets as it seeks to end the company’s debt crisis, a person with direct knowledge of the matter said. ** Chesapeake Energy Corp said it is buying oil producer WildHorse Resource Development Corp in a nearly $4 billion deal, as it looks to increase oil production capacity during a period of rising crude prices. ** Italian communications towers company Rai Way has raised its bid for Telecom Italia’s broadcasting unit Persidera to around 220 million euros ($250 million), two sources familiar with the matter said. (Compiled by Arundhati Sarkar and Saumya Sibi Joseph in Bengaluru)

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