October 11, 2019 / 10:04 AM / 6 days ago

Deals of the day-Mergers and acquisitions

(Adds Banque Centrale Populaire; updates Metro, Uber, IAC/InterActiveCorp)

Oct 11 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Morocco’s Banque Centrale Populaire (BCP) said it had bought a 100% stake in Banque Commerciale Internationale (BCI) in the Republic of Congo from France’s BPCE.

** German wholesaler Metro has agreed to sell a majority stake in its Chinese operations to local retailer Wumart, continuing a drive to simplify its business and focus on its core customers in the hospitality industry.

** Uber said it would buy a majority stake in online grocery provider Cornershop as the ride-hailing giant moves to expand its fast-growing delivery service into the grocery store market.

** Atlantia’s Spanish unit Abertis has agreed to pay 1.5 billion euros ($1.7 billion) for a majority stake in Mexican toll road operator Red de Carreteras de Occidente (RCO) as part of a drive to expand in high-growth potential countries.

** IAC/InterActiveCorp said it intends to spin off its ownership stake in Tinder-owner Match Group Inc resulting in the full separation of the two companies.

** Thomas Cook, the world’s oldest travel firm, has received a non-binding bid for its Nordic operations, a spokesman said.

** Japan’s Hitachi Ltd has narrowed suitors for its $6.8 billion chemical unit to a handful of companies including Bain Capital and Carlyle Group LP, people with knowledge of the deal said.

** Japan’s Itochu Corp has invested nearly $100 million in Chinese electric vehicle maker Singulato Motors to lift its stake to about 7% and plans to boost the holding if the startup meets certain conditions, two people familiar with the matter said.

** Australia’s IOOF Holdings said it sold its holding in domestic fund manager Perennial Value Management Ltd (PVM), aiming to focus on its core wealth management business.

** Australian mine developer Clean TeQ Holdings Ltd said it terminated an agreement with Metallurgical Corporation of China to develop its Sunrise Battery Materials Complex, further delaying the project.

** Equinor said it will invest nearly 5 billion Norwegian crowns ($549 million) to build floating turbines to supply power to several North Sea oil and gas platforms, in a move that will allow the Norwegian firm to cut carbon emissions. (Compiled by Trisha Roy and Shanti S Nair in Bengaluru)

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