November 8, 2019 / 10:31 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Zeta Resources, easyJet, Canadian Imperial Bank of Commerce, Mamas & Papas Retail, Occidental Petroleum)

Nov 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Friday:

** Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp’s board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders released.

** British nursery retailer Mamas & Papas Retail was sold to private equity firm Bluegem Capital Partners, administrator Deloitte said on Friday, leading to the shutdown of six loss-making stores and 73 job losses.

** Canadian Imperial Bank of Commerce (CIBC) said it had agreed to sell a significant portion of its majority stake in CIBC FirstCaribbean to GNB Financial Group for $797 million.

** British budget airlines easyJet and Jet2.com have bought the take-off and landing slots of failed travel company Thomas Cook at London Gatwick and Manchester airports, respectively.

** Sydney-listed investment fund Zeta Resources Ltd said it did not intend to accept nickel miner Independence Group NL’s (IGO) A$312 million ($214.6 million) takeover bid for Panoramic Resources Ltd.

** French supermarket retailer Carrefour is in talks to sell its Rue du Commerce online shopping site to French e-commerce venture Shopinvest, as it refocuses its online sales strategy on food rather than electronics.

** Acerinox will acquire Germany-based alloy firm VDM Metals after concluding a purchase deal worth 532 million euros ($587.6 million) with Lindsay Goldberg Vogel and Falcon Metals BV, the Spanish steel company announced.

** South Africa’s Tiger Brands is exploring the sale of its processed meats business, which was temporarily closed last year following the world’s largest ever listeria outbreak, it said.

** Investment bank Moelis Australia, backed by Singapore’s SPH REIT, has agreed to buy a 50% stake in an Australian shopping centre for A$670 million ($462.23 million), boosting its funds under management to around A$4.7 billion.

** Norway’s Equinor agreed to sell its shale assets at the Eagle Ford shale formation in southwest Texas to Repsol for $325 million, the Norwegian oil and gas firm said on Thursday.

** General Motors Co confirmed on Thursday it had sold its shuttered Lordstown Assembly plant in Ohio to a start-up that has an ambitious plan to begin building electric pickup trucks by the end of 2020. (Compiled by Dania Nadeem in Bengaluru)

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