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Deals of the day-Mergers and acquisitions
November 28, 2017 / 11:02 AM / 13 days ago

Deals of the day-Mergers and acquisitions

(Adds Buffalo Wild Wings, BlackRock, Emerson Electric, HERE, Cineworld Group, Sinopec; updates Bank of Nova Scotia, SoftBank, Mizrahi-Tefahot Bank)

Nov 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** Arby’s owner Roark Capital Group said it would buy Buffalo Wild Wings Inc for $2.4 billion, adding to its growing portfolio of U.S. restaurants after a bruising proxy fight over the direction of the chicken wing chain.

** Goldman Sachs Group is among around five bidders for ScotiaMocatta, the metals trading arm of Canada’s Bank of Nova Scotia, for which it is seeking up to $1 billion, sources with knowledge of the matter told Reuters.

** Cineworld Group Plc, a British operator of movie theaters, is in talks with U.S. peer Regal Entertainment Group about a potential merger, people familiar with the matter said.

** BlackRock Inc said it had agreed to buy the asset management business of Mexico’s Citibanamex, a subsidiary of Citigroup Inc, in a sign of the growth potential the world’s largest asset management firm sees in the country.

** Industrial-automation systems maker Emerson Electric Co said it abandoned its bid for Rockwell Automation Inc after several rejections, and instead will pursue bolt-on acquisitions as originally planned.

** Japan’s SoftBank Group Corp is offering to purchase shares of Uber Technologies Inc at a valuation of $48 billion, a 30 percent discount to its most recent valuation of $68.5 billion, a person familiar with the matter said.

** Brazil’s state-controlled power holding company Eletrobras expects to complete most of its divestiture program by the end of first half next year, Chief Executive Wilson Ferreira Jr said.

** Digital mapping firm HERE said it plans to acquire Advanced Telematic Systems, a Germany-based company that provides “over the air” software updates for connected and autonomous vehicles.

** Mizrahi-Tefahot Bank, Israel’s third-largest lender, has agreed to buy smaller rival Union Bank of Israel for around 1.4 billion shekels ($400 million) in shares to better compete with the country’s top two lenders.

** Bank Of Nova Scotia has agreed to buy Spanish lender Banco Bilbao Vizcaya Argentaria SA’s stake in BBVA Chile for $2.2 billion in a move that would make it Chile’s third largest privately-owned bank.

** China’s Sinopec has decided to sell its oil assets in Argentina for $500 million to $600 million to Mexican company Vista Oil & Gas, a source with knowledge of the deal told Reuters.

** China state-backed explosives maker Anhui Leimingkehua Co is acquiring a coal mining affiliate in a $3.1 billion deal, a move it said was part of the government’s push to make state-owned enterprises (SOEs) more efficient.

** Brian Joffe’s South African investment firm Long4Life has agreed to buy Chill Beverages for at least 452 million rand ($33 million) in cash and shares, Long4Life said on Tuesday.

** London-based private equity firm HgCapital Trust Plc has agreed to sell electronic trading and connectivity solutions provider Ullink to Sweden’s Itiviti, a company backed by Nordic Capital. (Compiled by Akankshita Mukhopadhyay and Sanjana Shivdas in Bengaluru)

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