March 12, 2020 / 10:30 AM / 20 days ago

Deals of the day-Mergers and acquisitions

March 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Thursday:

** Australia’s Santos Ltd said it will sell 25% in Darwin LNG and BayuUndan to South Korea’s SK E&S for $390 million, months after agreeing to buy ConocoPhillips’ business in the region.

** Austria’s oil and gas group OMV said it plans to sell assets worth $2.3 billion until the end of next year to fund its $4.7 billion acquisition of an additional stake in plastics maker Borealis.

** China’s Anbang Insurance Group Co Ltd, fresh from two years of government-led restructuring, has sold a 35% stake in Chengdu Rural Commercial Bank Co Ltd once valued at over $2 billion in its latest divestiture.

** French spirits group Pernod Ricard said it was investing in Italicus, a super-premium bergamot-infused Italian aperitivo, as it further expands its fast-growing portfolio of premium specialty spirits.

** Food giant Nestle has mandated JPMorgan Chase & Co. to handle the sale of its struggling Chinese peanut milk business Yinlu that could be valued at about $1 billion, Bloomberg reported, citing sources familiar with the matter.

** Florida-based augmented reality startup Magic Leap Inc is exploring options, including a sale, Bloomberg reported, citing people familiar with the matter.

Compiled by Arunima Kumar in Bengaluru

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