Deals of the day-Mergers and acquisitions

Published 12-03-2021, 08:30 pm
Deals of the day-Mergers and acquisitions

(Adds Ovintiv, Fortenova; Updates Cardinal Health )

March 12 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Czech energy group EPH's subsidiary, EP Power Europe, has reached a deal to acquire STEAG Power Minerals from the STEAG group, the companies said. Automotive seating company Adient ADNT.N said it would sell its 50% interest in Yanfeng Adient Seating (YFAS) to its joint venture partner for $1.5 billion in cash, to pursue its strategy in China independently. Private equity firm Sentinel Capital Partners-owned Holley is merging with a blank-check company in a deal that values the auto parts maker at $1.55 billion, the companies said. Loews Corp (NYSE:L) L.N said it would sell 47% stake in subsidiary Altium Packaging to Singapore's sovereign wealth fund GIC in a deal valuing the packaging solutions provider at $2 billion. Indian conglomerate Tata Sons TATAS.UL plans to buy a majority stake in Alibaba-backed 9988.HK online grocery seller BigBasket, a filing with the country's antitrust body showed. Cardinal Health Inc (NYSE:CAH) CAH.N will sell its Cordis medical device business to private equity firm Hellman & Friedman in a deal valued at about $1 billion, the drug distributor said. Japanese e-commerce firm Rakuten Inc 4755.T said it would sell an 8.32% stake to postal and banking giant Japan Post Holdings Co Ltd 6178.T , deepening a logistics tie-up in the face of competition from rivals such as Amazon.com Inc AMZN.O . Finnish utility Fortum FORTUM.HE said it had signed an agreement to sell its district heating business in the Baltic countries to Partners Group, valuing the business at 800 million euros ($954 million) on a debt- and cash-free basis. Britain's biggest sportswear retailer JD Sports Fashion JD.L has entered markets in central and eastern Europe by agreeing to buy 60% of Poland's Marketing Investment Group (MIG), it said. Hungary's Opus Global has signed a deal with Swiss-based MET Group to acquire 49.57% of Hungarian natural gas distributor Tigaz, the two companies said. European broadcaster RTL RRTL.DE confirmed it was exploring the sale of its controlling stake in French broadcaster Groupe M6 MMTP.PA , as it reported a 26% slide in annual core profit due to the coronavirus pandemic. European private equity firm Charterhouse Capital Partners said on Friday it had entered exclusive talks to sell a majority stake in French drugmaker Cooperation Pharmaceutique Francaise, known as Cooper, to CVC Capital Partners. JD.com Inc 9618.HK is in talks to buy part or all of a stake in brokerage Sinolink Securities 600109.SS worth at least $1.5 billion, three people said, as the e-commerce major aims to bolster its financial services operations. Southeast Asia's biggest ride-hailing and food delivery firm Grab Holdings is in talks to go public through a merger with a U.S. special purpose acquisition company that could value it at nearly $40 billion, people familiar with the matter said. Poland's biggest shoe retailer CCC CCCP.WA has entered into exclusive talks on the sale of a minority stake in eobuwie, valuing the online shoe shop at 5 billion zlotys ($1.30 billion), it said late Thursday. Ireland's Davy Stockbrokers, which is grappling with the fallout from a record central bank fine, has decided to put itself up for sale, the firm said on Thursday. Infrastructure engineering software maker Bentley Systems Inc BSY.O said on Thursday it had agreed to buy privately held geological and geophysical modeling software developer Seequent for about $1.05 billion. Oil producer Ovintiv Inc OVV.N is in advanced talks with a privately owned energy investment firm to sell its holding in a south Texas shale basin for more than $800 million, sources familiar with the matter said. Food company Fortenova has taken back control of Slovenia's largest retail chain Mercator (NS:MRCT) after shareholders approved the deal, along with a share swap, which raises the stake of Russia's Sberbank, the Croatian group's biggest shareholder.

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