October 31, 2019 / 10:34 AM / 21 days ago

Deals of the day-Mergers and acquisitions

(Adds Marathon; Updates Fiat, Bombardier)

Oct 31 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 13:30 GMT on Thursday:

** Fiat Chrysler and Peugeot owner PSA plan a 50-50 share merger to create the world’s fourth-largest automaker, seeking scale to cope with costly new technologies and slowing global demand.

** Marathon Petroleum Corp chief Gary Heminger will leave the company next year after almost a decade in charge, launching sweeping changes demanded by investors at the biggest U.S. refiner, including the spinoff of its Speedway retail arm.

** Canada’s Bombardier said it had agreed to sell its aerostructures business to Spirit AeroSystems for more than $1 billion in cash and debt.

** Carlsberg reported a 5.3% rise in third quarter sales, boosted by strong sales in Asia and Western Europe, and said it had agreed to buy the remaining stake in a Cambodian brewery that it does not already own.

** ABB is divesting its stake in two Chinese electrification businesses, the Swiss engineering company said, as it presses ahead with reviewing its operations and ditching underperformers.

** Britain’s Carpetright is in talks with its largest shareholder Meditor over a possible takeover at a huge discount to its closing value on Wednesday, prompting a 50% crash in its shareprice.

** India’s Yes Bank Ltd said it has received a binding offer of $1.2 billion from a global investor as the private-sector lender looks to raise capital through a fresh issue of shares, sending its stock 39% higher.

** German carrier Lufthansa is ready to invest up to 200 million euros ($223 million) in struggling Italian airline Alitalia, a source close to the matter said on Thursday.

** Turkey’s sovereign wealth fund (TVF) wants to buy the European Bank for Reconstruction and Development’s (EBRD) 10% stake in the Istanbul stock exchange, broadcaster CNN Turk reported TVF general manager Zafer Sonmez as saying.

** South African telecoms major MTN Group Ltd has ditched a plan to sell its 53% stake in Mascom Wireless Botswana, which was supposed to net the company $300 million.

** China is planning to abandon a planned merger of state-owned chemical firms ChemChina and Sinochem Group due to challenges in bringing the two management teams together, the Financial Times reported, citing two people close to the matter.

** Australia’s Iluka Resources Ltd, the world’s largest producer of zircon, said it was considering a demerger of an asset that earns royalties from a BHP Group iron ore operation - Mining Area C (MAC).

** Peruvian Airlines and Star Perú are set to merge after both were purchased by investment fund Global Investment Platform, the fund said on Wednesday.

** Diamond Eagle Acquisition Corp, a special purpose acquisition company, is in advanced talks to buy fantasy sports provider DraftKings Inc, Bloomberg reported on Wednesday. (Compiled by Abhishek Manikandan in Bengaluru)

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