Deals of the day-Mergers and acquisitions

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

(Adds Platinum Equity, Usinas; Updates Hutchison)

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

** Britain's competition regulator is starting a formal investigation into the proposed 7.3 billion pound ($9.31 billion) deal to combine supermarket chains Sainsbury's SBRY.L and Walmart's WMT.N Asda. CK Hutchison 0001.HK is set to win EU approval for its 2.45 billion euro ($2.8 billion) deal to buy out Veon from an Italian joint venture after reaffirming a pledge to help rival Iliad's business in Italy, a person familiar with the matter said. Brazilian steelmaker Usinas Siderurgicas de Minas Gerais USIM5.SA , known as Usiminas, has hired Banco BTG Pactual SA BPAC3.SA to sell its 70 percent stake in its mining company, one source with knowledge of the matter said. Platinum Equity is exploring a potential sale or initial public offering of Vertiv, a provider of backup power and fail-safe systems for data centers, which its private equity owner hopes will value the company close to at least $6 billion, according to sources familiar with the matter. Industrial gases groups Linde LIN1.DE and Praxair PX.N won conditional antitrust approval in Brazil for their planned merger after committing to asset sales, Linde said. South Africa's competition watchdog approved Glencore's GLEN.L roughly $900 million bid for Chevron's CVX.N local and Botswana assets, bolstering its chances of scuppering a rival bid from China's Sinopec 000554.SZ . The Australian Competition and Consumer Commission cleared the proposed acquisition of APN Outdoor APO.AX by JCDecaux SA JCDX.PA , as well as Ooh!Media's OML.AX purchase of HT&E Ltd's HT1.AX bus stop advertising business Adshel. India's Reliance Communications Ltd RLCM.NS said it completed the sale of its media convergence nodes and related infrastructure assets worth 20 billion rupees ($285.4 million) to Reliance Jio Infocomm.

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