Deals of the day-Mergers and acquisitions July 17, 2019
July, 17th 2019
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
** Curacao will start evaluating up to 10 proposals from energy firms interested in becoming a partner in the Caribbean nation’s 335,000-barrel-per-day oil refinery, according a statement by the government owned Refineria di Korsou.
** Israel’s competition agency approved a deal that would allow Searchlight Capital Partners to take control of Israel’s largest telecoms group, Bezeq Israel Telecom.
** Irish building materials supplier CRH is selling its underperforming European distribution unit to Blackstone-backed private equity funds for 1.64 billion euros ($1.85 billion), including net debt.
** The Competition and Markets Authority (CMA) said it was looking into whether the proposed acquisition of Britain’s largest satellite company Inmarsat by a private equity-led consortium would affect the competitive landscape.
** Italy’s biggest builder Salini Impregilo gave the go-ahead on Tuesday to a takeover bid for stricken rival Astaldi, kickstarting a state-backed plan to revive the country’s moribund construction industry.
** Norwegian media group Schibsted said it was eyeing acquisitions after spinning off Adevinta, even as it reported quarterly earnings slightly above forecasts.
** Indian hotel startup Oyo said it has bought local co-working venture Innov8, as the SoftBank-backed hospitality chain looks to venture into the commercial real estate business under the brand name Oyo Workspaces.
** China’s Xiaomi Corp has taken a stake of roughly 6% in chip designer VeriSilicon Holdings Co Ltd, as the smartphone maker revamps its years-long pursuit of success in semiconductors which it sees as central to driving innovation.
** Austria’s AMS AG said it did not see “sufficient basis” for continuing its discussions with Osram Licht to acquire the German technology company, one day after Osram made public the approach by AMS.
** Prologis Inc said on Monday it would buy Black Creek Group’s Industrial Property Trust Inc (IPT), a portfolio of U.S. industrial properties, in an all-cash deal valued at about $4 billion. (Compiled by Soundarya J and Shanti S Nair in Bengaluru)