Deals of the day- Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day- Mergers and acquisitions
Credit: © Reuters.

(Adds Bouygues , RSE Ventures, Momo Inc , 3M, Charterhouse, Qalaa Holdings, Telenor , Liberty Global, Reno, JBS; updates Darden Restaurants)

June 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** Britain has cut its stake in Lloyds Banking Group LLOY.L to below 17 percent, the finance ministry said in a stock market disclosure on Tuesday, taking the total sum recovered by the taxpayer to 11.5 billion pounds ($18.16 billion). ID:nL8N0Z90M7

** The board of Bouygues BOUY.PA unanimously rejected an offer for its telecom unit from European telecom group Altice ATCE.AS that sources put at 10 billion euros ($11.16 billion), citing execution risks and confidence in its own growth prospects. ID:nFWN0Z901Z

** RSE Ventures is teaming up with Qatar to buy a 35.5 percent stake in the holding company that owns Formula One in a $7 billion-$8 billion deal, a source familiar with the matter told Reuters. ID:nL3N0Z944P

** Momo Inc's MOMO.O chief executive and a group of investment firms offered to buy all shares of the Chinese mobile chat app company they do not already own for $1.9 billion, six months after the company listed in the United States ID:nL3N0Z93FJ

** 3M Co MMM.N on Tuesday struck a deal to boost its presence in worker protection gear by buying Capital Safety from private equity firm KKR & Co KKR.N for $1.8 billion, the U.S. diversified manufacturer's largest-ever purchase. ID:nL3N0Z93GU

** British private equity firm Charterhouse CHCAP.UL is working with JP Morgan JPM.N on options for healthcare company Tunstall, in a deal which could value the company at up to 700 million pounds ($1.1 billion), a source familiar with the matter said on Tuesday. ID:nL8N0Z9474

** British bookmaker Ladbrokes Plc LAD.L confirmed on Tuesday it was in merger talks with privately owned Gala Coral Group. ID:nL8N0Z90TT

** Italian holding company Exor EXOR.MI said it had so far received a positive response to its offer for PartnerRe PRE.N from the Bermuda-based reinsurer's shareholders as it seeks to convince them to vote against a rival bid. ID:nI6N0Z1001

** Qalaa Holdings CCAP.CA , one of Egypt's largest investment firms, said on Tuesday it had signed agreements with Financial Holdings International (FIH) to buy some of FIH's subsidiaries. ID:nL8N0Z93VH

** Italy's Banca Ifis IF.MI said it had bought three portfolios of non-performing loans with a nominal value of around 900 million euros ($1 billion), including bad loans worth 650 million euros from Monte dei Paschi di Siena BMPS.MI . ID:nI6N0YK02R

** Norwegian and Swedish telecoms companies Telenor TEL.OL and TeliaSonera TLSN.ST said on Tuesday they were confident that the European Commission would approve a planned merger of their mobile operations in Denmark, overcoming the objections of the European Commission. ID:nFWN0Z901P

** Chinese consortium Uphill Investment Co raised its offer for Integrated Silicon Solution Inc ISSI.O to $23 per share, trumping chipmaker Cypress Semiconductor Corp's CY.O latest bid of $22.25. ID:nL3N0Z9399

** Darden Restaurants Inc (NYSE: DRI ) DRI.N said it plans to separate some of its restaurants into a publicly traded real estate investment trust as part of changes engineered by activist investor Starboard Value LP. ID:nL3N0Z92ZA

** British banking group Barclays BARC.L is in talks to sell its natural resources-focused private equity business to the unit's management, a person familiar with the matter said on Tuesday. ID:nL8N0Z91IZ

** Liberty Global LBTYA.O , Europe's biggest cable company, is in talks to buy Irish TV channel TV3 for more than 100 million euros ($111.76 million), the Financial Times reported, citing people familiar with the matter. ID:nL3N0Z9437

** Global exporter Li & Fung Ltd 0494.HK has formed a joint venture with two Chinese department store operators, with the aim of setting up as many as 300 stores and developing its own private labels, the Hong Kong firm said on Tuesday. ID:nL3N0Z926F

** Dutch supermarket group Ahold AHLN.AS is in the "final stages" of merger negotiations with Belgian peer Delhaize DELB.BR , it said on Tuesday, though the company declined to confirm media reports that a deal would be announced this week. ID:nL8N0Z930P

** Israel's government has approved a plan by Bezeq Israel Telecom BEZQ.TA to take full control of satellite TV operator YES after determining it would not harm competition in the multi-channel TV market. ID:nL8N0Z938C

** Abu Dhabi-based Etihad Airways denied a media report that it is in talks with the Indian government to raise its 24 percent stake in India's Jet Airways JET.NS . ID:nL8N0Z91R9

** China's Evergrande Real Estate Group Ltd 3333.HK and social media firm Tencent Holdings Ltd 0700.HK will buy Mascotte Holdings Ltd 0136.HK at a 97 percent discount to the solar tech maker's share price, Mascotte said. ID:nL3N0Z92GC

** South Africa's biggest fast-food restaurant chain Famous Brands FBRJ.J will take a 51 percent stake in its Botswana franchise partner, it said on Tuesday, ahead of a potential broader foray in the rest of Africa. ID:nL8N0Z90IU

** British construction firms Carillion CLLN.L and Kier KIE.L announced a joint venture with France's Eiffage FOUG.PA to bid for contracts for Britain's controversial high-speed rail project. ID:nL8N0Z921C

** Oman's Al Madina Insurance AMAT.OM plans to acquire domestic rival Vision Insurance, Al Madina said on Tuesday. ID:nL8N0Z909L

** Renewable power generator Infinis Energy Plc INFII.L has bought an 18.5-megawatt wind farm project from investment firm Peel Group for an undisclosed sum, the company said on Tuesday. ID:nL8N0Z9193

** The family owners of German shoe chain Reno have asked investment bank Rothschild ROT.UL to find a buyer for the company, two sources familiar with the matter said on Tuesday. ID:nL8N0Z928I

** Brazilian meat packer JBS SA JBSS3.SA said on Tuesday that its purchase of local rival Marfrig Global Foods SA's MRFG3.SA European Moy Park unit will lead to $50 million a year in cost savings. ID:nL1N0Z913H

($1 = 3.7764 shekels) ($1 = 0.6332 pounds) ($1 = 0.8958 euros)

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