Deals of the day-Mergers and acquisitions

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

(Adds Avnet, Eldorado, BW LPG, Terraform, Tesla)

Sept 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Monday:

** Chinese and Australian sovereign wealth funds, along with other investors, said they will take Australia's busiest port private for a higher-than-expected A$9.7 billion ($7.3 billion), a sign that tough equity markets are fuelling appetite for infrastructure. Sunac China Holdings Ltd 1918.HK will buy property assets in mainland China for $2.1 billion from Legend Holdings 3396.HK , in a deal that will see the parent of computer maker Lenovo 0992.HK exit the real estate development sector. U.S. electrical components distributor Avnet Inc AVT.N said it would sell its IT business to technology products distributor Tech Data Corp TECD.O for about $2.6 billion. Gaming company Eldorado Resorts Inc ERI.O said it would buy rival Isle of Capri Casinos Inc ISLE.O for $1.7 billion, including debt. U.S. network security firm Infoblox Inc BLOX.N said it had agreed to be bought by private equity firm Vista Equity Partners Management LLC for $1.6 billion. Swedish braking systems maker Haldex HLDX.ST has backed a 5.53 billion crowns ($647 million) takeover offer from German car parts firm ZF Friedrichshafen ZFF.UL , even though it is less than a rival bid from Germany's Knorr-Bremse STELLG.UL . BW LPG BWLPG.OL , the world's largest liquid petroleum gas shipper, has raised its stake in smaller rival Aurora LPG AURLPG.OL by 10 percentage points to 29.83 percent. TerraForm Global Inc GLBL.O and TerraForm Power Inc TERP.O , the "yieldcos" of bankrupt solar company SunEdison Inc, said on Monday they were exploring strategic alternatives, including a sale of their entire business. Indonesia's PT Medco Energi Tbk MEDC.JK said it had agreed to acquire ConocoPhillips' COP.N entire 40 percent interest in an oil and gas production sharing block that the U.S. firm operates in the Natuna Sea. Elon Musk-led Tesla Motor Inc TSLA.O said its proposed acquisition of SolarCity Corp SCTY.O could be delayed due to shareholder lawsuits challenging the deal. Vietnam has invited about half a dozen foreign investment banks to advise it on selling its 44.7 percent stake in dairy producer Vinamilk VNM.HM , sources said, in one of the strongest signs yet of the government getting serious about offloading its most lucrative assets. The government intends to sell roughly 10 percent, worth about $900 million at the current market price, then offload the rest incrementally, the sources said. Thailand's Jasmine International Pcl JAS.BK said its chief executive and biggest shareholder, Pete Bodharamik, has secured up to 42.5 billion baht ($1.22 billion) in credit to buy all shares he does not already own in the telecoms company. Financial services company WH Ireland Group Plc WHI.L said Kuwaiti European Holdings Group was considering buying a stake in the company, which has a market capitalisation of 26.9 million pounds ($35.10 million) as of Friday's close. The consortium interested in acquiring and immediately listing Australia's largest grain exporter Cooperative Bulk Handling Ltd has withdrawn its offer, GrainCorp Ltd GNC.AX - one of the financial backers of the deal - said. Indian household products manufacturer Nirma NIRMA.UL has raised 40 billion rupees ($600 million) to fund the acquisition of Lafarge India, in the largest M&A bond in the local market. China Vanke Co Ltd 2202.HK 000002.SZ said it was in talks to buy assets in cash, part of the property developer's effort to accelerate the development of its new businesses.

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