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Deals of the day-Mergers and acquisitions
March, 22nd 2017

March 22 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Wednesday:

** Japanese trading company Mitsubishi Corp may sell stakes in Australia thermal coal mines as it presses on with a switch to core assets such as coking coal after slumping to its first-ever annual loss last year, a spokesman said.

** Felda Global Ventures Holdings Bhd, a Malaysian palm plantation operator, is in talks with several companies, including Chinese firms, to establish partnerships to expand its distribution networks and finance facilities.

** Indian e-commerce marketplace Snapdeal denied it was in talks for a potential sale, after newspaper Mint reported that the company was in discussions with domestic rivals for a potential sale.

** Korea Electric Power Corp is in talks to buy a stake in the Toshiba-Engie British nuclear joint venture NuGen, chief executive of the South Korean utility said.

** Tokyo Electric Power Co plans to seek the cooperation of domestic nuclear operators to improve the safety of its Kashiwazaki-Kariwa nuclear plant in an attempt to restart it and help meet the costs of the Fukushima nuclear disaster.

** Lactalis said it extended a buyout offer on Parmalat for a further five days, after the French dairy group failed to reach a 90 percent stake it needed in the Italian food company to request its delisting.

** Norway's Statkraft will in June begin a formal process to sell its stakes in the Sheringham Shoal and Dudgeon wind farms offshore Britain, with a goal of completing the transactions by the end of the year, the company said in a statement.

** Dutch paints and coatings maker Akzo Nobel rejected a second takeover proposal from U.S. rival PPG Industries saying an improved 22.4 billion euro ($24.1 billion) offer was too low and too risky.

** Riyadh-based ACWA Power said it expects the first of four power generation companies owned by Saudi Electricity Co will be offered to the market by the end of the year, as the kingdom presses ahead with its overhaul of the state sector.

** The head of property firm CA Immo said Immofinanz must shed its Russian assets by the end of the fourth quarter for merger talks, which are currently stopped, to be completed in time for shareholder meetings in May 2018. (Compiled by Divya Grover in Bengaluru)

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