Deals of the day-Mergers and acquisitions Sep 12, 2017,
September, 13th 2017
The following bids, mergers, acquisitions and disposals were reported by 1300 GMT on Tuesday:
** Bunge Ltd said it would buy a 70 percent stake in IOI Loders Croklaan from Malaysian palm oil producer IOI Corp Berhad for $946 million, as a plan to invest in higher-margin businesses such as food ingredients and natural flavorings.
** The British government said it was minded to refer Rupert Murdoch's takeover of pay-TV group Sky for a full investigation to examine whether it would uphold broadcasting standards, knocking Sky's share price sharply.
** Glencore's move last week to sell most of its stake in Russian oil major Rosneft to Chinese conglomerate CEFC is eliciting admiration from the Swiss oil trader's rivals -- and relief from its bankers.
** Vietnam's technology firm FPT Corp said it would sell 47 percent of its trading unit to Synnex Technology International Corp in 2017.
** Taiwan's top financial regulator said that corporate governance is his top policy priority and that he will build a "friendly environment" for mergers between private banks.
** Indonesian conglomerate Rajawali Group said it had sold a 21 percent stake in infrastructure developer PT Nusantara Infrastructure Tbk to PT Matahari Kapital Indonesia for 864 billion rupiah ($65.5 million)
** France's Credit Agricole has agreed to sell about half its 31.1 percent stake in Banque Saudi Fransi (BSF) to billionaire Prince Alwaleed Bin Talal's Kingdom Holding for 5.76 billion riyals ($1.54 billion).
** Britain's competition regulator said it accepted proposals by Amec Foster Wheeler Plc to sell almost all of its upstream offshore oil and gas servicing assets relating to its deal with John Wood Group.
** British insurer Hastings said that preliminary talks earlier this year to explore a possible merger with roadside recovery and motor insurance company AA's insurance business had ended.
** Toshiba Corp 6502.T now favours a group led by Bain Capital LP and SK Hynix Inc to buy its prized semiconductor business, as it failed to bridge key gaps with its business partner and rival bidder Western Digital Corp, two people briefed on the matter said.
** South African drugmaker Adcock Ingram will buy contact lenses, surgical and skincare products supplier Genop Holdings, it said, a deal that gives it a company with 400 million rand ($31 million) in annual sales.
** Canada's competition watchdog said on Monday it will not challenge a proposed merger between Agrium Inc and Potash Corp, saying the transaction was unlikely to substantially lessen competition in the fertilizer industry.
** Louis Dreyfus Co is not looking to sell its Brazilian juice operations, but it is open to partnerships in the area, including possible tie-ups with local bottlers, Murilo Parada, chief executive for the Brazil unit, told Reuters.
** Teva Pharmaceutical Industries agreed to sell its contraceptive brand Paragard to a unit of Cooper Cos for $1.1 billion, on a day the struggling Israeli drugmaker named industry veteran Kare Schultz as CEO.
** Shin Dong-joo, the elder son of Lotte Group's founder, has decided to sell most of his stakes in Lotte Shopping and three other units of South Korea's No.5 conglomerate, his company said without providing the value of the sale. (Compiled by Laharee Chatterjee in Bengaluru)