August 24, 2017 / 10:03 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds AirAsia, Platform Specialty Products, HTC Corp, Raízen Energia SA, Stada, Amazon.com, Banco Bradesco)

Aug 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Thomas Cook’s German leisure airline Condor and Lufthansa are interested in taking on a number of planes from insolvent Air Berlin, sources familiar with the negotiations said.

** Deutsche Post DHL has agreed to sell its British outsourcing subsidiary Williams Lea Tag to private equity group Advent International to focus on its core logistics service business, the two companies said.

** Saudi Aramco and Saudi Basic Industries Corp (SABIC) have launched bidding for engineering work on their joint crude oil to chemicals project, industry sources said, a key step towards developing the $20-billion-plus complex.

** A consortium that includes Western Digital is offering 1.9 trillion yen ($17.4 billion) for Toshiba Corp’s memory chip business, which the Japanese conglomerate is trying to sell to cover losses from its U.S. nuclear business, sources said.

** AirAsia Bhd Chief Executive Tony Fernandes said that the planned sale of the Malaysia-based carrier’s leasing unit to a South Korean group was “imminent” and there were no “roadblocks” to the sale.

** Platform Specialty Products Corp has decided to abandon the sale of its agrochemicals business after the offers it attracted failed to meet its valuation expectations of more than $4.5 billion, people familiar with the matter said.

** Smartphone maker HTC Corp is exploring options that could range from spinning off its virtual reality (VR) business to selling itself, Bloomberg reported, citing people familiar with the matter.

** Brazil’s Raízen Energia SA is close to buying parent Royal Dutch Shell Plc’s Argentina gas station network for more than $1 billion, two people familiar with the plan said.

** Phoenix Group, Britain’s largest owner of closed life assurance funds, is considering buying some of the bulk annuity portfolios that have come on the market in recent months, it said.

** Mitsui Sumitomo Insurance Company (MSI) is acquiring Singapore’s First Capital Insurance for $1.6 billion from Canada’s Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in populous Southeast Asia - a key target region for global players.

** Irish building materials firm CRH has sold its U.S. distribution business to Beacon Roofing Supply Inc. for $2.63 billion in cash and will use the proceeds to continue an acquisition spree elsewhere, it said.

** Chinese state-owned food group COFCO, which fully acquired Dutch-based grains trader Nidera in February after a three-year takeover, is considering a sale of Nidera’s Latin American seeds business, according to people familiar with its plans.

** Russian bank Otkritie has sold its 19.8-percent stake in Cyprus-based Russian Commercial Bank and will use the proceeds to fund the development of its retail business in Russia, Otkritie said.

** Stada said that Paul Singer, founder of activist investors Elliott, held nearly 10 percent of the generic drugmaker following a recent private equity buyout.

** Amazon.com Inc said it plans to complete its $13.7 billion acquisition of Whole Foods Market Inc on Monday after winning antitrust approval from U.S. regulators on Wednesday.

** Banco Bradesco SA’s acquisition of HSBC Bank Brasil Banco Múltiplo SA will have generated as much as 3.5 billion reais ($1.11 billion) in cost savings and synergies by the end of next year, Chief Financial Officer Alexandre Glüher said.

** Australia’s antitrust regulator cleared a consortium led by News Corp Co-Chairman Lachlan Murdoch to buy free-to-air television broadcaster Ten Network Holdings Ltd , saying the move would not harm competition.

** Russian oil firm Rosneft has struck deals with several buyers for almost its entire quota of Venezuelan crude for the remainder of the year, traders told Reuters on Wednesday, the first time it has conducted such a large sale of the OPEC member’s oil.

** General Electric Co has resumed negotiations to sell its industrial solutions business to Swiss engineering company ABB Ltd, after the U.S. industrial conglomerate moderated its price expectations, people familiar with the matter said.

** Hershey Trust Co, the charitable trust which controls chocolate maker Hershey Co, said on Wednesday it would sell 4.5 million shares of Hershey’s common stock.

** Cubic Telecom, a supplier of data connections for cars and other “internet of things” devices, said it has closed a new $46.5 million (39.4 million euros) funding round from investors including chipmaker Qualcomm and Audi’s venture arm.

Compiled by Tamara Mathias and Manas Mishra in Bengaluru

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