January 8, 2019 / 11:17 AM / 8 months ago

Deals of the day-Mergers and acquisitions

(Adds Citigroup, Banca Carige, Parken Sport & Entertainment, Plaid, Fincantieri, Solvay, Uniper, Faroe Petroleum; Updates Sika AG)

Jan 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2200 GMT on Tuesday: ** Norwegian oil company DNO ASA raised its bid for Britain’s Faroe Petroleum to 641.7 million pounds ($816 million), lifting its cash offer to 160 pence per share from 152 pence. ** Swiss chemicals company Sika AG has agreed to buy French rival Parex in a 2.5 billion Swiss franc ($2.6 billion) deal, the latest in a wave of consolidation in the construction materials sector. ** Private equity firms AfricInvest and Catalyst Principal Partners have jointly acquired a “significant minority” stake in a second tier Kenyan lender, Prime Bank, both companies said. ** Bingo Industries Ltd has offered to divest its eastern Sydney waste processing plant to address antitrust concerns related to the waste management firm’s planned acquisition of Dial-aDump, Australia’s competition regulator said. ** Citigroup Inc has agreed to sell its stake in its Citi Orient Securities joint venture to its Chinese partner, paving the way for the U.S. bank to set up its own brokerage in the world’s second-largest economy. ** The special commissioners running Banca Carige told union representatives at a meeting that there is no merger partner at present for the ailing Italian bank, union sources said. ** Shares in Parken Sport & Entertainment, owner of soccer club FC Copenhagen, climbed as its main shareholder confirmed media reports about investor interest in buying the business. ** U.S. fintech company Plaid Inc said it had acquired New York-based peer Quovo Inc to boost its portfolio of software products that connect banks with fintech apps. ** The European Commission said that it would investigate Italian shipbuilder Fincantieri’s planned acquisition of French counterpart Chantiers de l’Atlantique after France and Germany asked it to do so. ** Italian Deputy Prime Minister Matteo Salvini attacked France and Germany over their role in a European Union investigation into a planned merger involving Italian shipbuilder Fincantieri . ** BASF is looking to shed a sizeable portfolio of assets to salvage a deal it struck in 2017 with Solvay over the acquisition of the Belgian chemicals group’s polyamide business, people close to the matter said. ** Activist fund Elliott has further raised its stake in Uniper , the German energy group said in a voting rights announcement. (Compiled by Vibhuti Sharma and Manogna Maddipatla in Bengaluru)

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