Deals of the day-Mergers and acquisitions May 30, 2019
May, 31st 2019
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:
** Shares of Viacom Inc jumped nearly 6% on a report that CBS Corp’s board is preparing for merger talks with the media company.
** Axel Springer’s share price jumped more than 20% after the German publisher said its main owners were in talks with U.S. investor KKR to take the $5.4 billion company private and pursue a long-term growth strategy.
** Private equity firm Genstar Capital said it will buy asset management software company Prometheus Group from private equity firm Francisco Partners for over $1 billion.
** Melco Resorts & Entertainment will buy a 20% stake in Australia’s Crown Resorts from casino mogul James Packer for A$1.76 billion ($1.22 billion), the U.S. company said, months after Wynn Resorts withdrew an offer to buy Crown.
** Dallas-based Greyhound was put up for sale by Britain’s FirstGroup as the North American bus line battles to compete with growing pressure from low cost airlines.
** Israel’s Delek Group moved closer to listing its Ithaca Energy subsidiary by buying most of Chevron’s British North Sea oil and gas fields for $2 billion.
** Canadian asset manager Brookfield is close to sealing a deal with U.S. infrastructure fund KKR and Spain’s Ribera family to buy a 50% stake in solar group X-Elio, according to three sources with knowledge of the matter.
** Azerbaijan’s SOCAR is interested in buying Russia’s Antipinsky oil refinery, although specifics from the Russian side are not known yet, SOCAR’s deputy vice president told Reuters.
** United Arab Emirates-based GEMS Education has expanded into Saudi Arabia by buying Ma’arif Education Group, the largest private school owner and operator in the kingdom, through a joint venture with Hassana Investment.
** Kenya’s biggest lender by assets, KCB Group, won shareholder approval for its proposed takeover of National Bank of Kenya (NBK) in a 10-for-1 share swap transaction.
** Czech utility CEZ would rather sell its Pocerady lignite-fired power plant than keep it, and the associated coal contract, but will make a final decision later this year, Chief Executive Daniel Benes said in an interview.
** Nissan’s advanced technologies including platforms and electric powertrains could give it leverage in a merger involving Renault and Fiat Chrysler, thanks to a royalty system it has with the former, two people with knowledge of the matter said.
** Bank of Kigali, Rwanda’s biggest lender by assets, is in talks to buy local insurance company Sonarwa, the bank’s chief financial officer said.
** USA Today owner Gannett Co Inc has recently discussed the possibility of a merger with Gatehouse Media Inc, the Wall Street Journal reported, citing sources familiar with the matter.
** Investment firm Mantle Ridge LP is exploring forming a consortium with private equity firms and sovereign wealth funds to make an offer for U.S. food services company Aramark , people familiar with the matter said.
** U.S. wireless carriers T-Mobile US Inc and Sprint Corp are considering divesting wireless spectrum, according to two sources familiar with the matter, as the companies work to gain regulatory approval for their merger. (Compiled by Manas Mishra in Bengaluru)