August 30, 2019 / 10:13 AM / 16 days ago

Deals of the day-Mergers and acquisitions

(Adds Vivendi, SSE, Indian state-owned banks, Blagosostoyanie, Sunrise Communications, StreetScooter, Apcoa)

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

** India announced a series of mergers involving 10 state-owned banks, as it moves to strengthen a sector struggling under a mountain of debt and ensure stronger balance sheets to boost lending and revive economic growth.

** Russia’s state development bank VEB plans to buy what it described as a blocking stake in Blagosostoyanie, one of the country’s biggest pension funds that is not involved in managing state pensions, the bank’s chairman said.

** Brazilian power company CPFL Energia SA has agreed to acquire the full stake held by its Chinese parent, State Grid Corp of China, in its renewables subsidiary CPFL Energias Renovaveis SA, the company said in a securities filing.

** One of British Steel’s units, TSP Projects, has been sold to the UK subsidiary of French engineering group Systra, a move that will save over 400 jobs, Britain’s Official Receiver said.

** Investment group Centerbridge has begun preparations for a sale of parking garage manager Apcoa, which could be valued at more than 1 billion euros ($1.1 billion) in a potential deal, people close to the matter said.

** The trust that holds French media giant Vivendi’s 19.2% stake in Mediaset has registered to vote on a planned restructuring at the Italian broadcaster, a source close to the matter said, in a move that could scupper the deal.

** British energy provider SSE has kicked off the process to sell its 140 million cubic feet per day portfolio of North Sea gas fields in a single package, a sale document seen by Reuters showed.

** Sunrise Communications’ proposed takeover of Liberty Global’s Swiss UPC business faces a revolt with at least two big investors joining top shareholder Freenet in opposing the 6.3 billion Swiss franc ($6.46 billion) deal, sources said.

** Deutsche Post has received expressions of interest from potential partners for StreetScooter, its electric van business, board member Tobias Meyer said. (Compiled by Vibhuti Sharma and Soundarya J in Bengaluru)

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