April 12, 2019 / 10:03 AM / 13 days ago

Deals of the day-Mergers and acquisitions

(Adds Renvico, Non-Standard Finance, Celgene Corp, CEZ, Uniper, WPP, Nidec, Petrobras; Updates Chevron, Merck KGaA)

April 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** A Macquarie-run infrastructure fund managing the Renvico wind farm portfolio in Italy and France has started a process to sell the company which could be worth around 400 million euros ($450 million), four sources familiar with the matter said.

** British sub-prime lender Non-Standard Finance (NSF) has identified errors related to its past dividends and buybacks, it said, adding that this would not affect its bid to buy larger rival Provident Financial.

** Bristol-Myers Squibb Co’s shareholders voted to approve the drugmaker’s $74 billion acquisition of biotech Celgene Corp despite a campaign by activist hedge fund Starboard Value LP to scuttle the deal.

** Czech electricity producer CEZ said it had terminated a contract to sell a power distribution firm it owns in Bulgaria to Bulgarian firm Inercom, blaming the government for the failure of the deal.

** German utility Uniper has caved in to demands from activist investor Elliott to allow shareholders a vote instructing management to enter negotiations with its largest investor, Fortum.

** WPP has attracted at least five of the world’s biggest private equity firms into an auction for a majority stake in its data analytics unit Kantar ahead of a deadline for indicative bids on Apr. 17, sources told Reuters.

** The European Commission said it had approved Japanese firm Nidec’s planned purchase of U.S. white goods maker Whirlpool Corp’s compressor subsidiary Embraco, subject to conditions.

** CVC Capital Partners and Brazilian investment firm Itausa Investimentos Itau SA are among the groups interested in an LPG distribution unit put on the block by Brazil’s Petrobras, two sources with knowledge of the matter said.

** Chevron Corp said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production shatters records.

** Toshiba Corp shares fell by the most in two months after an agreement to offload its U.S. liquefied natural gas (LNG) business collapsed, a blow for the Japanese company which has been shedding assets to turn around its business.

** French food group Danone said it had signed a definitive agreement for the sale of Earthbound Farms, its U.S. organic salad business, to California-based Taylor Farms.

** A Chinese-Taiwanese group will take control of Apple Inc supplier Japan Display after pumping in funds as part of a 232 billion yen ($2.1 billion) bailout plan for the troubled display panel maker.

** Santander has offered to take full control of its Mexican business through a 2.6 billion euro ($2.9 billion) all-share deal as the Spanish bank chases potentially higher returns available from Latin America.

** Unilever, said it had agreed to buy Procter & Gamble’s PG.N Fluocaril and Parogencyl toothpaste brands for an undisclosed price, expanding its presence in oral care.

** Russian mid-sized food retailer O’Key said that Russia’s largest lender Sberbank had expressed interest in its hypermarket business.

** U.S. buyout firm Lone Star has emerged as the frontrunner to buy the German building materials business of France’s Saint-Gobain in a deal valued at up to 400 million euros ($450 million), four sources familiar with the matter said.

** Irish building materials group CRH has hired Bank of America to launch the sale of its European distribution business in a deal valuing the unit at about 2 billion euros ($2.25 billion) including debt, sources familiar with the matter said.

** India’s Supreme Court ordered ArcelorMittal SA to stop a payment to lenders to buy Essar Steel, a lawyer involved in the case said, delaying billionaire Lakshmi Mittal’s entry into the country’s fast-growing steel market.

** South Africa’s Brimstone Investment Corporation said it was pulling out of a proposed 4.8 billion rand ($345 million) buyout of dairy firm Clover Industries, amid opposition from an anti-Israel group.

** Germany’s Merck KGaA said it signed a takeover agreement with target Versum Materials for a price of $53 per share after Versum walked away from a prior merger agreement with rival Entegris.

** Bavaria’s state government is considering a sale of lender Bayerische Landesbank (BayernLB), which is 75 percent owned by the German regional state, people close to the matter told Reuters. (Compiled by Akanksha Rana and Shanti S Nair in Bengaluru)

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