Reuters logo
Deals of the day-Mergers and acquisitions
March 21, 2017 / 10:28 AM / 9 months ago

Deals of the day-Mergers and acquisitions

(Adds Dominion Diamond , Endeavour Mining and OTP Bank )

March 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2005 GMT on Tuesday:

** Telecom tower infrastructure company Bharti Infratel said Nettle Infrastructure Investments would buy about 21.63 percent of its stake from company’s promoter Bharti Airtel Ltd.

** China’s Alibaba Group Holding Ltd has fully acquired online ticketing platform, the e-commerce giant said, marking a further push into entertainment by the firm as it expands beyond its core online retail business.

** Market rumors that U.S. activist hedge fund Elliott Management Corp has acquired a stake in South Korea’s Hyundai Motor Co are not true, a person familiar with the matter told Reuters.

** Japan’s Panasonic Corp said it has agreed to become majority owner of Spanish auto parts maker Ficosa International SA as it bolsters its push into the automotive field.

** Egypt aims to raise 6 billion pounds ($329 million) from the sale of stakes in state companies in the 2017/18 financial year, Finance Minister Amr El Garhy told Reuters, part of government efforts to generate revenue and attract investors.

** Polyus, Russia’s largest gold producer, has agreed to sell its 82.34 percent stake in a joint venture with Polymetal which holds rights to develop the Nezhdaninskoye gold deposit, Polyus said in a statement.

** Marathon Oil Corp said it bought additional acreage in the Permian basin for about $700 million, the company’s second purchase in less than two weeks as it focuses on higher-margin, lower-cost U.S. assets.

** Porsche SE, Volkswagen’s majority shareholder, said it has no information about former VW chairman Ferdinand Piech’s talks with the carmaker’s controlling families about a possible sale of his stake.

** Danish utility and wind farm developer DONG Energy has signed an agreement with Britain’s Banks Renewables, in what would be its first move into distributing onshore wind in the UK, the company said.

** Fifty-two Hungarian savings cooperatives will merge into 12 regional savings banks by the end of the year, the integration association of savings banks (SZHISZ) said in a statement.

** Hungary’s OTP Bank is looking at specific acquisition opportunities around Eastern Europe and plans to use its ample capital position to take advantage of market consolidation, its chief executive said.

** BNP Paribas, Credit Agricole and Natixis have provided a debt financing backing private equity firm Ardian’s acquisition of a majority stake in Prosol group, founder of fresh food retailer Grand Frais, it was announced on Monday.

** Canadian gold miner Endeavour Mining Corp said on Tuesday it had ended discussions with London-based Acacia Mining Plc regarding a potential merger.

** Dominion Diamond,, target of a $1.1 billion unsolicited bid, should run a formal sales process for the company and open its books to what could be several interested parties, Dominion’s biggest shareholder told Reuters. (Compiled by Divya Grover and Aishwarya Venugopal in Bengaluru)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below