August 30, 2017 / 10:01 AM / 20 days ago

Deals of the day- Mergers and acquisitions

(Updates Toshiba, ZF, Adds ICBC, Noble Group, Ryan Air, Sistema, Airbus, ECi, Dong Energy, Eiffage, MMI Holdings, Albaugh LLC, BroadSoft)

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

** The world’s largest lender Industrial and Commercial Bank of China (ICBC) said it would follow restrictions set by the country’s cabinet on overseas acquisitions.

** Trader Noble Group is expected to pick a buyer for its oil and liquefied natural gas units by mid-September to cover debts and reduce credit exposure after a first half loss of $1.9 billion, sources familiar with the matter said.

** Ryanair will not bid for any assets of insolvent German airline Air Berlin, its Chief Executive Michael O‘Leary said, describing the process as “a stitch-up”.

** Russian conglomerate Sistema said it had no plans to reduce its stake in mobile phone operator MTS to pay oil giant Rosneft a $2 billion settlement and would be able to raise the funds from banks.

** Airbus has urged United Technologies to stay focused on fixing industrial problems that have delayed aircraft deliveries even if it presses ahead with reported plans to buy avionics supplier Rockwell Collins.

** Bank of America Merrill Lynch and RBC Capital Markets are sounding out investors on a $570 million financing package that will back the buyout of ECi, a U.S. enterprise resource planning (ERP) software provider, and its merger with Dutch ERP company Exact Software, according to four sources familiar with the situation.

** New Energy Investment, indirectly owned by investment bank Goldman Sachs, is selling a 1.78 percent stake in Danish utility and offshore wind farm developer Dong Energy .

** Construction group Eiffage maintained its full-year target for higher profits and revenue after posting an increase in first-half earnings, and said it was in talks over buying a business from Italy’s Saipem.

** Financial services group MMI Holdings Namibia, a local unit of South African-listed MMI Holdings, has bought a 70 percent stake in short-term insurer Quanta Insurance, the companies said.

** Albaugh LLC is exploring a sale that could value the privately held U.S. producer of agricultural crop protection chemicals at more than $1.5 billion, including debt, according to people familiar with the matter.

** BroadSoft Inc, a U.S. provider of software that helps companies offer cloud-based communications services, is exploring its options, including the potential sale of the company, according to people familiar with the matter.

** German auto supplier ZF said it has sold its Body Control Systems division to China’s Luxshare as it reshapes its portfolio of technologies for a new era of self-driving and electric cars.

** German industrial group Siemens has agreed to buy Dutch self-driving software specialist Tass International for an undisclosed sum to strengthen its automotive business, it said.

** Germany’s Allianz plans to pay $35 million for 98 percent stake in Nigerian insurer Ensure Insurance in a push for growth in Africa, where many people are uninsured.

** India’s Bird Group said it is interested in buying state-owned carrier Air India’s ground-handling business, making it the second company to formally show interest in bidding for a part of the ailing airline.

** A consortium led by Bain Capital has made a revised last-ditch offer for Toshiba Corp’s chip unit worth about $18 billion, bringing in Apple Inc to help bolster its bid, sources with direct knowledge of the matter said.

** Britain’s Co-operative Group is in exclusive talks to buy Nisa, entering the fray days after larger rival Sainsbury’s suspended its own bid talks for the wholesale group.

** Immofinanz said it might agree a new schedule for its merger with rival Austrian property group CA Immo , after talks are currently on hold.

** Kuwait Foreign Petroleum Exploration Co (KUFPEC) said it had agreed to buy an additional 15 percent of Norway’s Gina Krog offshore oil field from France’s Total for $317 million.

** Two major Abu Dhabi real estate developers, Eshraq Properties and Reem Investments, said they aimed to merge as an economic slowdown in the emirate puts the housing market under pressure.

** Spectris Plc sold its U.S.-based barcoding business to Omron Corp for $157 million in cash, the measuring instruments maker said.

** Malaysian telecommunications firm Axiata Group’s infrastructure unit is buying telecom towers in Pakistan for $940 million in partnership with a local conglomerate, in what will be one of the biggest deals in the South Asian nation.

** Shares of China Evergrande Group rose 3.5 percent after Hong Kong-based Chinese Estates Holdings Ltd bought shares in the mainland property developer.

** Indonesia’s Asia Pulp & Paper Co Ltd has not yet signed a binding agreement to buy pulpmaker Eldorado Brasil Celulose SA, the Brazilian company said in a securities filing. (Compiled by Akankshita Mukhopadhyay and Laharee Chatterjee in Bengaluru)

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