Deals of the day-Mergers and acquisitions Nov 14, 2017
November, 15th 2017
The following bids, mergers, acquisitions and disposals were reported by 1100 GMT on Tuesday:
** Tesco won provisional approval for its 3.7 billion pound ($4.9 billion) takeover of wholesaler Booker from the UK competition regulator on Tuesday, moving Britain's biggest retailer closer to securing a new avenue of growth.
** Canada's Cenovus Energy Inc has reached an agreement to sell its Weyburn oil facility for C$940 million ($738.53 million) to Whitecap Resources Inc, Cenovus said, completing its main divesture plans.
** British insurer Aviva said it had agreed to buy Irish insurer Friends First Life Assurance Company for 130 million euros ($151 million) in cash, making it one of the biggest insurers in Ireland.
** Amazon.com Inc is selling off the hardware from its public cloud business in China, amid tightening regulation over online data that is creating a hurdle for technology firms operating in the world's second-largest economy.
** French construction and engineering group Vinci said it wanted to expand further its airport operations and would systematically bid for opportunities in markets worldwide.
** Top Indian mobile carrier Bharti Airtel Ltd said on Tuesday it sold part of its holdings in mobile masts arm Bharti Infratel Ltd for 33.25 billion rupees ($507.52 million) in a bid to reduce debt.
** Qatar First Bank (QFB) said that one of its units had sold its stake in United Arab Emirates healthcare and education investment firm Amanat Holdings, the latest sign of an unwinding of business ties between Qatar and the UAE.
** Goldman Sachs Group Inc has written down to zero the value of its stake in the Weinstein Company, the movie studio whose co-chairman Harvey Weinstein stepped down last month following sexual assault allegations, a person familiar with the matter said.
** Kuwait's Aviation Lease and Finance Company (ALAFCO) announced it was exercising options for 20 Boeing 737-8 MAX jets at the Dubai Airshow.
** Spanish office buildings owner Inmobiliaria Colonial said it has launched a takeover bid for Axiare Patrimonio, valuing the rival company at 1.46 billion euros ($1.70 billion).
** Indian airline Jet Airways is in "serious discussions" about ordering a further 75 Boeing 737 Max aircraft, having already ordered 75, chairman and founder Naresh Goyal told Reuters at the Dubai Airshow.
** Kenya's government converted some loans to Kenya Airways into equity, lifting its stake to nearly 50 percent in an effort to return the carrier to profitability, the finance minister said.
** Allergan Plc said it will sell just under a quarter of its roughly 10 percent stake in Israel's Teva Pharmaceutical Industries during the first quarter of 2018, as it starts to unwind its position in the struggling generic drugmaker. (Compiled by Sanjana Shivdas in Bengaluru)