Company News

Deals of the day-Mergers and acquisitions

(Adds Sinclair, Itausa Investimentos, Allianz, updates Transat, A-property)

Aug 23 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Sinclair Broadcast Group Inc completed a $9.6 billion deal to acquire Fox’s 22 regional sports networks after the U.S. Justice Department gave its consent.

** A group led by investment firm Itausa Investimentos SA delivered the highest bid to acquire Brazil’s state-controlled oil company Petroleo Brasileiro SA LPG distribution unit, two people with knowledge of the matter said.

** Transat AT shareholders overwhelmingly voted in favor of Air Canada’s bid for the leisure group, in a deal that still requires domestic and European regulatory approval.

** Russia’s A-property group, owned by businessman Albert Avdolyan, has requested approval from the country’s antimonopoly service to buy 49% of the Elga coal project from Gazprombank , the group said.

** Germany’s insurer Allianz SE will acquire Brazil’s Sul America SA auto and property insurance portfolio for 3 billion reais ($734 million) in its largest push into Latin America’s biggest economy, it said in a statement.

** SoftBank Group Corp-backed Indian hospitality startup Oyo will rebrand Hooters Casino Hotel in Las Vegas in a deal that a source with knowledge of the matter said was worth $135 million.

** Statkraft has agreed to buy German electric vehicle (EV) charging company E-WALD GmbH, to strengthen its position in the German and European EV charging market, the Norwegian power producer said.

** Sumitomo Mitsui Financial Group (SMFG) said it would acquire British asset manager TT International, in a move to generate a fee-based revenue and attract Japanese investors hamstrung by low domestic returns.

** Shares in Peppa Pig and PJ Masks-owner Entertainment One rose 33% to a record high, surpassing the $4 billion price tag agreed with U.S. toy maker Hasbro, in a sign that investors see a chance of a counter offer.

** Inc is set to snag a 3.58% minority stake in India’s Future Retail, which operates more than 1,500 stores in India and owns several supermarket brands, including budget department and grocery store chain, Big Bazaar.

** Japanese travel agency H.I.S. Co has given up its bid for a controlling stake in Unizo Holdings, Nikkei Business reported, after a SoftBank-owned firm made a $1.3 billion ‘white knight’ offer for the hotel operator.

** VMware Inc said on Thursday it bought two providers of cloud security and cloud developer services in separate deals valued at about $5 billion, as it expands offerings for corporate clients. (Compiled by C Nivedita in Bengaluru)