Deals of the day-Mergers and Acquisitions July 26, 2018
July, 26th 2018
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Thursday: ** Qualcomm Inc walked away from a $44 billion deal to buy NXP Semiconductors after failing to secure Chinese regulatory approval, becoming a high profile victim of a bitter Sino-U.S. trade spat.
** Qatar First Bank sold its 20 percent stake in Turkey’s Memorial Health Group to majority shareholder Turgut Aydin and his family, Memorial said in a statement.
** AccorHotels, Europe’s largest hotelier, said it had abandoned plans to buy a minority stake in Air France-KLM , which has been hit by boardroom and staff unrest.
** China’s markets regulator said it has conditionally approved merger between French lens manufacturer Essilor and Italian eyewear Luxottica.
** John Menzies Plc is selling its newspaper distribution business to private equity firm Endless LLP for an enterprise value of 74.5 million pounds ($98.33 million), marking its transition to a pure-play aviation services group.
** Israeli real estate company Gazit-Globe said it sold its remaining 5.6 million shares of Regency Centers Corp for $61.95 a share or a total of $347 million.
** Retailer Casino, which is facing investor concerns about its high debt levels, said it was making progress with its assets disposal plan, with the sale of a 15 percent stake in its Mercialys property unit.
** French waste and water group Suez will sell a 20 percent stake in its United States regulated water business to pension fund PGGM for $601 million, to help strengthen its balance sheet again after last year’s acquisition of GE Water.
** Australia and New Zealand Banking Group Ltd said it entered a term sheet to transfer an 82 percent stake in its pensions unit (P&I) and ownership of its aligned dealer groups (ADG) to wealth manager IOOF Holdings Ltd.
** Aluminum products maker Arconic Inc is weighing takeover approaches from at least two private-equity groups, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. (Compiled by Sanjana Shivdas in Bengaluru)