July 26, 2019 / 10:28 AM / 4 months ago

Deals of the day-Mergers and acquisitions

(Adds Axpo, Telecom Italia, International Meal Company Alimentacao; updates Schroders)

July 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** Brazilian restaurant operator International Meal Company Alimentacao SA has reached an agreement to merge with the master franchiser of Pizza Hut and KFC in Brazil as the companies seek cost savings in logistics and procurement.

** Italy’s biggest phone group Telecom Italia (TIM) and rival Vodafone agreed a deal to merge their mobile masts infrastructure in Italy, two sources close to the matter said.

** Swiss utility Axpo said it had signed a deal to market power generated at a solar park in southern Germany under a power purchase agreement (PPA), meaning the facility will be developed using funds from advance sales of its output.

** British asset manager Schroders Plc said it has agreed to acquire a majority stake in Swiss impact investor BlueOrchard Finance Ltd for an undisclosed sum.

** Apple Inc took a major step toward supplying its own smartphone chips by purchasing the majority of Intel Corp’s modem business in a deal valued at $1 billion, the companies said.

** Britain’s Vodafone announced plans to separate its mobile mast operations in Europe into a new company that it potentially could list, in a move it said would unlock value for shareholders.

** Bankrupt German wind turbine manufacturer Senvion is in talks to buy time to strike a rescue deal as negotiations with potential buyers of the company continue, people close to the matter said.

** The head of French airports group ADP, which the government is hoping to privatise, said there were times when having a large, single shareholder could be a hindrance, such as in terms of seeking out big deals.

** French bank Societe Generale has agreed to sell truck and trailer rental company PEMA to a unit of infrastructure investment company I Squared Capital, as SocGen pursues a restructuring plan aimed at selling non-core assets.

** The biggest investor in defence company Cobham, Silchester International Investors, said that it did not consider a $5 billion offer for the company from private equity firm Advent International as ‘compelling’.

** U.S. Justice Department said Assistant Attorney General Makan Delrahim of the department’s Antitrust Division will announce a significant merger enforcement action.

** Warren Buffett’s Berkshire Hathaway has raised its stake in Bank of America Corp, the company said in a regulatory filing.

** The U.S. Justice Department is negotiating with state officials to get them to support a planned settlement that would allow T-Mobile US Inc and Sprint Corp to merge by selling assets to Dish Network Corp, the Wall Street Journal reported, citing people familiar with the matter. (Compiled by Dominic Roshan K.L. in Bengaluru)

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