Deals of the day-Mergers and acquisitions October 3, 2017
October, 03rd 2017
(Adds Archer Daniels, Saudi Telecom, Kapsch TrafficCom, Fiat Chrysler; Updates Reliance Communications, Laredo Petroleum)
Oct 2 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:
** U.S. agricultural trader Archer Daniels Midland Co denied a report that it was bidding on Unilever Plc’s spreads business, which includes Flora and Stork margarines.
** Saudi Telecom Company (STC) has asked banks to extend a payment deadline in debt talks related to Turk Telekom , the Turkish fixed-line telecoms company in which STC is interested in buying a stake, sources close to the matter said.
** Zambia has awarded Austria’s Kapsch TrafficCom AG a joint venture contract to design, install and operate a road traffic surveillance system to curb accidents, the company said.
** A spin-off is the option favoured by Fiat Chrysler (FCA) Chief Executive Sergio Marchionne to unlock value from components maker Magneti Marelli, he said.
** Snow Park Capital Partners LP has built a stake in retail-focused real estate investment trust Cedar Realty Trust Inc and is urging it to explore strategic options, including a potential sale, according to two people familiar with the matter.
** Dynavax Technologies Corp, a biotechnology company focused on drugs that harness the immune system to combat disease, is reviewing strategic options for its hepatitis B vaccine, which could include a potential sale or licensing deal, people familiar with the matter said.
** Global Logistic Properties, Asia’s biggest warehouse operator, agreed to acquire European logistics platform Gazeley for about $2.8 billion, marking its first push into Europe and underscoring consolidation in the buoyant sector.
** Noble Group Ltd expects to sell its oil liquids business by the end of December as part of a plan to slim down drastically and focus on its core Asian coal trading business after a crisis-wracked two years.
** Malaysia’s Petronas Chemicals Group Bhd said it plans to sell 50 percent of a polymers unit to Saudi Aramco’s wholly owned subsidiary, Aramco Overseas Holdings Coöperatief U.A. for $900 million.
** Reliance Communications is reassessing debt repayment options after a deal to merge its wireless arm with smaller rival Aircel was scrapped, dealing a fresh blow to the embattled Indian telecoms company.
** French waste and water group Suez said it had finalised its 3.2 billion euros ($3.4 billion) acquisition of GE Water, and confirmed its synergy outlook for the deal.
** U.S. private equity firm Bain Capital said it aims to buy 100 percent of Asatsu-DK Inc, Japan’s third-largest advertising agency, for 152 billion yen ($1.35 billion), in one of the largest buyouts in Japan this year.
** Chinese carmaker Zhejiang Geely Holding Group will increase its stake in Denmark’s Saxo Bank to above 50 percent in a $300 million-plus deal that highlights China’s drive to tap the expertise of European financial firms.
** Savola Group, Saudi Arabia’s largest food products company, is in talks to buy sweets and confectionery maker Sanabel Al-Salam in a deal worth $300 million, sources told Reuters.
** Leading Thai retailer Central Group will acquire the operations of high-end grocer Dean & Deluca from luxury real estate developer Pace Development Pcl for $50 million, Pace said.
** Metro Inc, Canada’s third biggest food retailer, said it would buy pharmacy chain Jean Coutu Group for C$4.5 billion ($3.60 billion).
** Canadian pension fund OMERS and U.S. buyout group Madison are acquiring Berlin’s landmark property Sony Center from Korea’s national pension fund NPS for 1.1 billion euros ($1.3 billion), the companies said.
** Oil and gas producer Laredo Petroleum said it would sell its stake in a Permian pipeline unit for $825 million, lower than some industry estimates and prodding the company’s shares down nearly 8 percent.