October 30, 2019 / 10:32 AM / 13 days ago

Deals of the day-Mergers and acquisitions

(Updates Fiat, Fedrigoni, Kloeckner & Co; Adds Istanbul Exchange, Anixter International, Total, Cerved)

Oct 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 13:30 GMT on Wednesday:

** Italy’s Cerved would like to combine its debt management division with a debt purchasing business as it studies a possible sale or merger of the unit, its chief executive said.

** The European Bank for Reconstruction and Development will sell its 10% stake in the Istanbul exchange after a former Halkbank executive who was jailed in the United States was named as the bourse’s CEO, two people familiar with the plans said.

** Talks between Fiat Chrysler and Peugeot owner PSA over a potential tie-up that could create a $50 billion car giant gathered pace on Wednesday, with one source saying a deal could be announced as early as Thursday.

** Italian paper maker Fedrigoni has agreed to pay nearly 300 million euros ($333 million) to buy self-adhesive products maker Ritrama as part of its strategy to focus on specialty papers, a source close to the matter said.

** Anixter International Inc, which supplies communications and security products, said on Wednesday private equity firm Clayton, Dubilier & Rice had offered to buy the company in an all-cash deal valued at about $3.8 billion.

** French oil major Total says it signed an agreement to sell wholly-owned subsidiary Total E&P Deep Offshore Borneo BV — which holds an 86.95% interest in Block CA1, located 100 kilometers off the coast of Brunei — to Shell for $300 million.

** German metals trader Kloeckner & Co is not holding talks with larger rival Thyssenkrupp about a tie-up, its chief executive said, quashing speculation about a future cooperation in the near-term.

** Norwegian investor Petter Stordalen and private equity firms Altor and TDR Capital have agreed to buy the Nordic business of collapsed travel company Thomas Cook.

** A possible tie-up between Fiat Chrysler and Peugeot owner PSA must be a “merger of equals” that leads to no job losses in Italy, Italian trade union UILM leader Rocco Palombella.

** Erste Group could be interested in buying Commerzbank’s Polish unit mBank, but only without its Swiss franc portfolio, Erste’s deputy chief executive said.

** The family members of late Hanjin Group chairman Cho Yang-ho inherited a 17.7% stake in Hanjin Kal, the group’s holding company, Hanjin Kal said in a regulatory filing.

** Fiat Chrysler and Peugeot owner PSA are in talks over a potential tie-up that could create a $50 billion giant better placed to tackle a host of costly technological and regulatory challenges facing the global auto industry.

** Hitachi Ltd will merge its vehicle components unit with Honda’s three suppliers in a bid to cut development costs and better respond to a rapid industry shift to electric vehicles (EV) and self-driving.

** Auto technology group Veoneer said on Wednesday it had agreed to sell its 51% share of a brake systems joint venture (VNBS) in China and Japan to Honda Motor and venture partner Nissin Kogyo for $176 million. (Compiled by Abhishek Manikandan in Bengaluru)

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