Deals of the day-Mergers and acquisitions

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

March 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1115 GMT on Tuesday

** Chinese smartphone maker Xiaomi Corp 1810.HK has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced in a filing. The firm will initially invest 10 billion yuan ($1.52 billion) in the wholly-owned subsidiary. German air shuttle startup Lilium said it would float on the U.S. stock market via a reverse merger with Qell Acquisition Corp QELL.O , a blank-cheque acquisition company, in a deal valuing the combined business at $3.3 billion. Indosat Ooredoo ISAT.JK has agreed to sell more than 4,200 telecommunication towers worth $750 million to a local unit of Singapore's Edge Point, according to a company statement. South African budget retailer Mr Price Group MRPJ.J said it had received all approvals to acquire retailer Power Fashion in a deal likely to top $105 million. Qatar Petroleum (QP), the world's top liquefied natural gas (LNG) supplier, will in 2022 take full ownership of Qatargas 1, which produces LNG and related products, it said in a statement. Australia's top power producer and energy retailer AGL Energy AGL.AX unveiled a plan to split into a bulk power generator and a retail business, in a bid to revive its battered shares and lure investors who shun coal. Unite Group UTG.L said it had sold eight properties for 133 million pounds ($183.15 million) to Aventicum Real Estate, as the British student housing provider turns its focus to high- and mid-tier universities. Shares of JSW Steel Ltd JSTL.NS rose as much as 5.12% after the steel company completed its purchase of a rival under a bankruptcy resolution law, paving the way for it to become the country's biggest steel producer. Talks on broadcaster RTL's RRTL.DE stake in France's Groupe M6 MMTP.PA are making progress and there is good interest from several interested parties, CEO Thomas Rabe told reporters. South Korea's SK Innovation Co Ltd 096770.KS said it is considering all options including pulling its battery business out of the United States if President Joe Biden does not overturn a trade panel's decision against it by April 11. An affiliate of private-equity firm Apollo Global Management Inc APO.N is aiming to raise $400 million in a U.S. initial public offering, a regulatory filing showed.

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