April 30, 2019 / 10:00 AM / 5 months ago

Deals of the day-Mergers and acquisitions

(Adds Occidental, Auchan, Sberbank, Imperial Brands; Updates HealthEquity, Mediahuis)

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

** U.S.-based Blackstone Group said it had agreed to acquire South Korean wholesale drug distributor Geo-Young in a deal with the company’s founder.

** HealthEquity Inc confirmed its offer to acquire WageWorks Inc in a deal valuing the administrator of employee benefits at about $2.01 billion.

** Warren Buffett’s Berkshire Hathaway Inc committed $10 billion to Occidental Petroleum Corp’s $38 billion cash-and-stock bid for Anadarko Petroleum Corp, boosting its chances of snatching a deal from Chevron Corp .

** Brazilian retailer Magazine Luiza SA said in a filing on Monday it agreed to buy online shoe retailer Netshoes Ltd for approximately $62 million.

** Orient Overseas International Ltd said it has agreed to sell its Long Beach container terminal to a subsidiary of Australia’s Macquarie Group for $1.78 billion.

** Kenya’s Equity Group Holdings said it was in discussions with London-listed financial services firm Atlas Mara Limited about acquiring stakes in banks in Rwanda, Zambia, Mozambique and Tanzania.

** Russia’s largest bank Sberbank is to spend 1 percent of the bank’s profit to buy online assets of media company Rambler Group, Chief Financial Officer Alexander Morozov said.

** British insurer Admiral Group said it had acquired Spanish digital broker Acierto in partnership with insurer Mapfre SA and private equity firm Oakley Capital .

** Global investment firm KKR & Co Inc is leading a deal to acquire a controlling stake in India Grid Trust (IndiGrid), in a bet on the country’s rapidly growing power sector, people familiar with the transaction told Reuters.

** European media group Mediahuis has agreed to buy Ireland’s largest newspaper group, Independent News & Media , for 145.6 million euros ($163.3 million) in its first major deal outside Belgium and the Netherlands.

** Britain’s competition watchdog provisionally cleared PayPal Holdings Inc’s $2.2 billion takeover of Swedish fintech startup iZettle (IPO-IZET.ST), saying the deal did not raise competition concerns.

** Ingersoll-Rand Plc said it would spin off its industrial business and merge it with industrial pumps and compressors producer Gardner Denver Holdings Inc, creating a company valued at about $15 billion.

** French supermarket retailer Auchan has decided to sell 21 sites in France, as a result of the tough business conditions within the sector that have already impacted its rivals such as Carrefour and Casino.

** Russia’s second-biggest food retailer Magnit, has dropped plans to bid for smaller rival Lenta , paving the way for Russian steel magnate Alexey Mordashov to seal a takeover valuing Lenta at about $1.75 billion.

** British tobacco group Imperial Brands said it would sell its global premium cigar business as part of plans to divest assets worth 2 billion pounds ($2.61 billion) by May 2020 to cut debt and invest in vaping products and other growth areas.

** Telecoms firm Altice has about 10 possible bidders for its Portuguese fibre network and is nearing a decision on the sale, Altice Portugal chief executive Alexandre Fonseca said. (Compiled by Shradha Singh and Uday Sampath in Bengaluru)

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