Deals of the day-Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day-Mergers and acquisitions

(Adds Navitas Petroleum, BNDES, Oi SA, VTB; updates Intesa Sanpaolo )

July 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Israel's Navitas Petroleum NVPTp.TA said the Blackstone (NYSE: BX ) Group BX.N signed a preliminary deal to raise its stake in a drilling project in the Gulf of Mexico to 47% from 16%. Brazilian development bank BNDES has decided to sell part of its stake in power company AES Tiete SA TIET11.SA to AES Corp AES.N , a filing showed. Brazilian telecommunications firm Oi SA OIBR4.SA confirmed that it received a new 16.5 billion reais ($3.2 billion) bid for its mobile assets from Telecoms Tim Participacoes TIMP3.SA , Telefonica (MC: TEF ) Brasil VIVT4.SA and America Movil's Claro AMXL.MX . Russian bank VTB VTBR.MM has acquired the remaining 30% of grain trader Mirogroup to raise its holding to 100% as it continues to expand its grain trading activities. Italy's Intesa Sanpaolo ISP.MI scored a complete victory in its takeover battle for UBI Banca UBI.MI , securing the two-thirds majority it needs to absorb the smaller rival and reap the biggest benefits from the deal. IAG ICAG.L , the parent of British Airways and Spain's Iberia, is close to an agreement to halve the price of its planned 1 billion euro ($1.17 billion) acquisition of Spanish rival Air Europa, newspaper Cinco Dias reported. Mukesh Ambani's Reliance Industries Ltd RELI.NS will pay between 240 billion and 270 billion rupees ($3.2-$3.6 billion) to buy the Indian retail chains owned by Future Group, Mint newspaper reported, citing two sources familiar with details of the deal. Telecoms Tim Participacoes TIMP3.SA , Telefonica Brasil VIVT4.SA and America Movil's Claro AMXL.MX on Monday night raised their bid to buy Oi SA's OIBR4.SA mobile assets out of bankruptcy for 16.5 billion reais ($3.21 billion).

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