December 4, 2019 / 10:48 AM / 8 days ago

Deals of the day-Mergers and acquisitions

(Adds Vale, Choppies Enterprises, Instructure, Deutsche Telekom, Norwegian Air, Canadian National Railway, PAI Partners, IKEA and Petrobras)

Dec 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Brazilian state-run oil firm Petrobras is considering putting additional stakes in significant offshore oilfields up for sale, executives said, as the company continues to aggressively de-leverage.

** IKEA, the world’s biggest furniture group, said it had bought a minority stake in U.S. tech startup Optoro whose software helps retailers manage returns in a more efficient way.

** Private equity firm PAI Partners and Lego owner Kirkbi said they would buy German insulation foam maker Armacell from Blackstone Group Inc for an undisclosed sum.

** Canadian National Railway Co, said it has entered a long-term deal to ship steelmaking coal from some of Teck Resources Ltd’s operations in British Columbia.

** Loss-making budget airline Norwegian Air has sold subsidiary Norwegian Air Argentina (NAA) for an undisclosed sum, with JetSMART Airlines taking control with immediate effect.

** Deutsche Telekom has put all deals to buy 5G network equipment on hold, it said, as it awaits the resolution of a debate in Germany over whether to bar Chinese vendor Huawei on security grounds.

** Education software firm Instructure Inc said on Wednesday it would be bought by private equity investment firm Thoma Bravo in an all-cash deal for about $2 billion, giving into pressure from one of its shareholders pushing for a sale.

** Botswana budget retailer Choppies Enterprises, will sell its loss-making South African operations for only 1 rand to escape existing liabilities and inject 100 million rand ($6.8 million) into the business.

** Brazil’s Vale SA is evaluating ways to exit its New Caledonia nickel operations and will make a decision in the first half of next year, an executive said.

** The Turkish Treasury is taking over a 58.5% stake in the state-owned Vakifbank from the state’s General Directorate of Foundations, according to a presidential decision published by the country’s Official Gazette.

** Grand Parade Investments (GPI) Ltd, which holds the Burger King franchise in South Africa, said it was in talks to sell a stake in the business, without giving a reason.

** Hyundai Heavy Industries Holdings Co Ltd said it is working with Singaporean regulators to alleviate concerns of its $2 billion merger with rival shipbuilder Daewoo crimping competition in the Southeast Asian maritime hub.

** The Chief Executive Officer of Engie’s Brazilian subsidiary said the French company group wants to acquire the 10% stake still owned by state-controlled oil company Petrobras SA in the natural gas pipeline company TAG.

** The European Union’s top antitrust policymaker, Margrethe Vestager, is open to the idea of pan-European mergers in the telecoms market, Orange’s boss Stéphane Richard said. (Compiled by Soundarya J and Sanjana Shivdas in Bengaluru)

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