August 22, 2017 / 10:33 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Murray & Roberts, Ryanair, JBS; Updates Bayer, Great Wall Motor Co)

Aug 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** The European Commission has started an in-depth investigation of Bayer’s planned $66 billion takeover of U.S. seeds group Monsanto, saying it was worried about competition in various pesticide and seeds markets.

** Struggling retailer Sears Holdings Corp said it signed licensing deals for its Kenmore home appliances and DieHard batteries to expand distribution of the brands outside the United States.

** Singapore’s biggest taxi operator, ComfortDelgro Corp Ltd , entered into exclusive talks with Uber Technologies Inc for a potential tie-up, it said, in a move that could help Uber in its fight with dominant ride-hailing firm Grab.

** Shares in oil services group CGG surged higher, with several traders citing speculation of a bid from China’s Sinopec.

** Malaysia’s RHB Bank and AMMB Holdings (AmBank) have dropped plans for a merger on grounds that both could not arrive at mutually acceptable terms.

** Meitav Dash, Israel’s second-largest investment house, pulled out of a deal to be bought out by London-based private equity firm XIO, saying XIO had changed the terms from the initial offer.

** Murray Goulburn Co-operative, Australia’s largest milk processor, said it was considering approaches from a broad array of suitors who were interested in acquiring the cooperative as a whole or some of its assets.

** German photonics group Jenoptik has bought U.S. process automation firm Five Lakes, a car industry specialist, for an undisclosed sum, it said.

** A group of state and private companies will invest a total of 6.9 billion yuan ($1.04 billion) in China’s COFCO Capital, a subsidiary of state-run agribusiness COFCO Group, according to a notice published on Monday on a state investment platform.

** Japan Tobacco Inc said it would buy the Philippines’ No. 2 cigarette maker Mighty Corp for about $936 million, its second large deal in Southeast Asia this month as it deepens its push into emerging markets.

** South Africa’s Murray & Roberts said it will increase its stake in Bombela Concession, which operates a rapid railway system in Gauteng province, to 50 percent from 17 percent for 405 million rand ($30.7 million).

** Ryanair would be interested in bidding for the whole of insolvent German carrier Air Berlin, but it needs access to more data on the airline’s finances, Chief Executive Michael O‘Leary told Reuters.

** BHP Billiton, the world’s largest miner, reported a surge in underlying full-year profits and said it would exit its underperforming U.S. shale oil and gas business, pleasing disgruntled shareholders who had called for a sale.

** Dalian Wanda Group said it had scrapped plans to buy Nine Elms Square in London, the latest setback for the Chinese conglomerate as Beijing tightens controls on overseas investment.

** Fujitsu Ltd is looking to offload its mobile operations as the Japanese information technology company faces stiff competition from bigger rivals in a highly lucrative mobile phone market, the Nikkei business daily reported.

** Polish retail and wholesale group Eurocash said it signed a letter of intent to buy its smaller rival Mila.

** Australia’s Seven Group Holdings said it would sell its Chinese mining machinery division WesTrac China to Chinese firm Lei Shing Hong Machinery for A$540 million ($428 million).

** KuangChi Science Ltd said its parent has invested 4 billion yuan ($600.3 million) in a 1.88 percent stake in China United Network Communications Ltd, becoming one of its strategic investors under a mixed ownership reform plan.

** Brazil floated a proposal to cede control of the country’s biggest power utility, Eletrobras, in the boldest privatization yet by a government struggling to close a record budget deficit, sending Eletrobras’ shares soaring in after-market trading.

** A Brazilian federal court temporarily halted Petróleo Brasileiro SA’s sale of a 50 percent stake in thermal power station operator TermoBahia to France’s Total SA following a lawsuit.

** Chinese automaker Great Wall Motor Co Ltd reiterated its interest in Fiat Chrysler Automobiles NV ,, but said it had not held talks or signed a deal with executives at the Italian-American automaker.

** The world’s largest meatpacker, JBS SA, said it will invest 30 million reais ($9.5 million) to produce fertilizers in Brazil, a country that currently imports most of the fertilizers used by its farmers. (Compiled by Tamara Mathias and Manas Mishra in Bengaluru)

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