March 19, 2015 / 10:01 AM / 5 years ago

Deals of the day- Mergers and acquisitions

(Norilsk Nickel, Enel, Dragon Oil, CRH, Deutsche Bahn, MMK)

March 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** Bank of America must allow shareholders to vote on a proposal that calls for the company to consider spinning off its investment banking business, after U.S. regulators told the bank it cannot exclude the proposal from its corporate ballot.

** German insurer Allianz has struck a $700 million deal with Goldman Sachs to protect most of its stake in China Pacific Insurance Group Co Ltd, according to a term sheet of the deal seen by Reuters.

** Interparfums said on Thursday it would buy perfumes and fashion company Rochas from U.S.-based Procter & Gamble for $108 million, taking the French fragrances group into the fashion business for the first time.

** News Corp increased its stake in Australian media company APN News & Media Ltd, becoming the biggest foreign shareholder in the owner of some of the country’s top rated radio shows with a $104 million share purchase.

** Italian utility Enel does not plan any corporate activity with its Spanish unit Endesa or its green energy unit Enel Green Power, its chief executive said on Thursday.

** Danish shipping and oil company A.P. Moller-Maersk published on Thursday the terms under which it would sell its 20 percent stake in Denmark’s largest bank Danske Bank, a sale announced in February.

** Ride-hailing service Uber Technologies Inc said late on Wednesday it had struck a deal with China Yongda Automobiles Services Holdings Ltd, a Chinese luxury auto dealer, to provide discounts and financing for Uber drivers’ cars.

** French bank Societe Generale said on Thursday it had agreed to buy a stake in Mauritius Commercial Bank Mozambique as part of its strategy to tap strong growth in Africa.

** Japanese online retailer Rakuten Inc is buying U.S. eBook company OverDrive Inc for about $410 million, deepening its push into the U.S. market and into the “sharing economy”.

** Irish cement firm CRH is working on the basis that the troubled merger of industry giants Lafarge and Holcim will happen, its chief executive said, as CRH shareholders approved an asset purchase that depends on the deal.

** Russia’s central bank has agreed “in principle” to sell some of its palladium stock to a fund of investors led by Norilsk Nickel, the chief executive of the palladium producer said on Thursday.

** Turkmenistan-focused oil explorer Dragon Oil has established an independent committee to assess a takeover approach made by Emirates National Oil Co (ENOC) last week, it said on Thursday.

** Belgian chemicals group Solvay said it agreed to sell some assets to chemical holding company ICIG, as part of a deal with the European Commission to get its PVC joint venture with Switzerland-based INEOS cleared.

** Taiwanese financial group Fubon has taken a 5.23 percent stake in Dutch insurance company Delta Lloyd , the Dutch financial markets watchdog said on Thursday.

** Internet and network security provider Check Point Software Technologies is in talks to buy cyber-security firm Lacoon Mobile Security for $80 million, Israeli newspaper Calcalist reported on its website on Thursday.

** Privatization of Deutsche Bahn or even a sale of a stake in Germany’s leading railway operator is currently not on the agenda, Chief Executive Ruediger Grube said on Thursday.

** Russian steelmaker MMK does not plan to sell a 5 percent stake in Australian iron ore company Fortescue until iron ore prices recover, MMK’s controlling shareholder Viktor Rashnikov told reporters on Thursday. ($1 = 120.50 yen) ($1 = 0.93 euros) ($1 = 6.97 Danish crowns) (Compiled by Yashaswini Swamynathan in Bengaluru)

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