May 6, 2020 / 10:02 AM / 2 months ago

Deals of the day-Mergers and acquisitions

(Adds PKN Orlen, CNH Industrial, Barrick Gold, Goldman Sachs, Embraer SA and Walt Disney; updates BorgWarner, TIM Participacoes)

May 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Poland’s biggest refiner PKN Orlen has offered to sell assets in its home market as part of a package of concessions aimed at allaying EU antitrust concerns over its Lotos bid, people familiar with the matter said.

** At least two Brazilian airlines and planemaker Embraer SA have hired investment banks to help with talks with state development bank BNDES for government support, sources with knowledge of the matter said.

** Brazilian antitrust watchdog CADE on Wednesday approved Walt Disney Co’s deal to acquire 21st Century Fox.

** Italy’s CNH Industrial reported a first quarter net loss on Wednesday due to the coronavirus crisis, which it said would have an continuing impact and meant it needed extra time to list its truck, bus and engine division.

** Barrick Gold Corp, reported a nearly 55% rise in quarterly profit as gold prices surged, bolstering its ability to snap up mines including in copper, its chief executive said.

** Goldman Sachs is in talks to buy a large group of company stakes being sold by asset manager Invesco as it looks to shift illiquid holdings whose value has been hit by the COVID-19 disease outbreak, Sky News reported citing sources.

** Auto parts maker BorgWarner said it had resolved a dispute with UK-based smaller rival Delphi Technologies and was on track to acquire it by the second half of 2020.

** Brazilian telecoms firms Telefonica Brasil SA and TIM Participacoes SA are moving ahead with a potential joint bid for rival Oi SA’s mobile unit despite the challenges of the COVID-19 outbreak, executives said.

** GlaxoSmithKline is selling $3.45 billion worth of shares in Unilever’s Indian business on the open market, according to a deal marketing term sheet seen by Reuters, cashing in late from the sale of the Horlicks brand.

** Britain’s competition watchdog made good on its threat to order JD Sports to sell Footasylum, saying the sportswear retailer’s 86 million pound ($106 million) takeover of its smaller rival left shoppers worse off.

** British mall operator Hammerson Plc said it had terminated its 400 million pound ($497.20 million) deal to sell seven retail parks to private equity firm Orion.

** The founder of activist investment company Amber Capital, which lost out this week in a bid to shake up the governance at French group Lagardere, said he had no plans to exit his stake in Lagardere and added that he could even raise it.

** French private equity group Ardian has won German insurer Talanx as a co-investor for the purchase of a 26% stake in regional utility EWE, Talanx said. (Compiled by Nivedita Balu and Praveen Paramasivam in Bengaluru)

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