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Deals of the day-Mergers and acquisitions
November 1, 2017 / 10:16 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Lufthansa, Eneco, Orsted, Yara, Duff & Phelps, Hudson’s Bay, TPG Capital, Swiber Holdings, Imperial Brands, Entercom, Apollo, Stratex)

Nov 1 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1900 GMT on Wednesday:

** The Russia-China Investment Fund (RCIF) leads a consortium that will acquire a 16.1 percent stake in Russia’s Eurasia Drilling Company (EDC), a Russian fund involved said.

** Two Chinese healthcare firms are among investors seeking to buy Australia’s I-MED Radiology Network in a deal that could value the X-ray provider at more than A$1 billion ($765 million), people with knowledge of the matter said.

** Australia’s Oil Search Ltd has agreed to buy stakes in a huge oil find in Alaska for $400 million, in a surprise push to diversify from its sweet spot of gas in Papua New Guinea.

** Imperial Brands is buying Nerudia, a UK maker of nicotine liquids for e-cigarettes, as the British tobacco company seeks to expand its portfolio of cigarette alternatives.

** Singapore oilfield services firm Swiber Holdings , which is under judicial management, said it was in talks with potential investors and has plans to buy an Australian firm as it looks to diversify into power plant engineering services.

** Representatives of U.S. private equity firm TPG Capital Management LP and state-owned China Telecom Corp Ltd are meeting with Brazil’s solicitor general on Monday to discuss a possible takeover of debt-laden telecom provider Oi SA , local media reported.

** Hudson’s Bay Co said on Wednesday Austrian property and retail group Signa Holding had made an “incomplete, non-binding and unsolicited offer with no evidence of financing” for its German business, as well as other real estate assets.

Earlier, Reuters reported that Signa, which owns German department store chain Karstadt, had submitted a fully-financed 3 billion euro ($3.5 billion) bid to buy HBC’s German department store operation Kaufhof.

** Corporate finance adviser Duff & Phelps agreed to be bought by a company backed by private equity Permira Funds in a deal valued at $1.75 billion, the companies said.

** Norwegian fertiliser maker Yara International is considering building a $2 billion plant in Mozambique and may seek partners to share the cost, its chief executive said.

** Danish energy group Orsted lifted its 2017 profit outlook after agreeing to sell a stake in what will be the world’s biggest offshore wind farm for around 2 billion pounds ($2.65 billion).

** A commission representing shareholders in Dutch energy firm Eneco said that cities holding a 74 percent stake have resolved to sell their shares by an Oct. 31 deadline and will now begin talks on how.

** Lufthansa has begun the European approval process for its takeover of large parts of insolvent Air Berlin .

** Argentina plans to sell government-held stakes in several electricity generation and distribution companies, the Energy Ministry said in a decree published in the government’s Official Gazette.

** Entercom Communications Corp won U.S. antitrust approval to buy CBS Radio Inc on condition that it sell 13 radio stations in Massachusetts and California, the Justice Department said on Wednesday.

** Funds of private equity companies Apollo and Cerberus are selling down approximately 2.6 percent in London-listed gambling company Ladbrokes Coral, the transaction’s bookrunner said on Wednesday.

** Shareholders of miner Stratex International have blocked a reverse takeover of Australian-listed Crusader Resources and voted chief executive Marcus Engelbrecht out of office. (Compiled by Manas Mishra and Sonam Rai in Bengaluru)

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