September 1, 2017 / 10:02 AM / 2 years ago

Deals of the day- Mergers and acquisitions

(Updates Allianz,Legend Holdings, Nets; Adds Aon, Apax, Fincantieri, Terna, Telecom Argentina)

Sept 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2015 GMT on Friday:

** China’s Legend Holdings struck a deal to buy a 90 percent stake in Banque Internationale a Luxembourg (BIL) for 1.48 billion euros ($1.76 billion) in the biggest takeover of a European deposit-taking bank by a Chinese firm so far.

** Oil firms Petronas and Aramco are among potential suitors for a controlling stake in Daewoo Engineering & Construction Co , a deal that could fetch around 2 trillion won ($1.78 billion), South Korea’s Maeil Business Newspaper said.

** Japanese insurer Sompo Holdings Inc said it has agreed to sell British unit Sompo Canopius to private equity firm Centerbridge Partners for $952 million.

** Insurance broker Aon Plc will buy real estate investment management firm The Townsend Group from Colony NorthStar Inc for $475 million to expand its property investment management portfolio, people familiar with the matter said.

** British private equity firm Apax Partners is to buy a majority stake in luxury fashion retailer for an undisclosed sum.

** Italy and France are holding “technical talks” over a disputed bid by Italy’s Fincantieri to take the control of French shipyard STX, the chairman of Fincantieri Gianpiero Massolo said.

** Payments firm Nets is set to enter exclusive talks with one of three private equity suitors as soon as next week, a source familiar with the matter told Reuters.

** Italian power grid company Terna is considering high-end service acquisitions in the United States, its CEO told Reuters.

** Shareholders in Telecom Argentina SA approved a planned merger with cable TV provider Cablevision SA during a meeting, the company said in a letter to Argentina’s securities regulator.

** Dow Chemical Co and DuPont said the companies had successfully completed their planned $130 billion merger to form DowDuPont.

** European insurers Allianz ALVG.DE and Baloise Holding and London-based buyout fund Cinven are finalizing rival offers for Generali’s Belgian unit ahead of a Sept. 8 deadline, sources told Reuters.

** Atlas Mara Ltd, the African investment vehicle of former Barclays boss Bob Diamond, said Fairfax Africa now holds 42 percent of the company after it subscribed to 70.1 million new shares.

Compiled by Akankshita Mukhopadhyay and Laharee Chatterjee in Bengaluru

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