June 27, 2018 / 8:13 PM / 10 months ago

Deals of the day-Mergers and acquisitions

(Updates Conagra; adds Walt Disney and others)

June 27 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Conagra Brands Inc said it would buy Pinnacle Foods Inc for about $8.1 billion, trying to grab a bigger share of the fast-growing snack and frozen food markets amid fierce competition in the packaged food industry.

** Walt Disney Co won U.S. approval to buy Twenty-First Century Fox Inc entertainment assets for $71.3 billion on condition it sell Fox’s 22 regional sports networks, the Justice Department said, giving Disney an edge over Comcast Corp’s competing bid.

** Idemitsu’s founding family will drop its opposition to plans for a merger of Idemitsu Kosan and Showa Shell Sekiyu, paving the way for the Japanese oil firms to combine, the Nikkei reported.

** China’s Hainan Airlines said it plans to sell its remaining stake in Brazilian airline Azul SA, but did not disclose details.

** Thyssenkrupp and Tata Steel are nearing a 15 billion euro ($17.4 billion) deal this week to combine their European assets into a global steel giant, sources familiar with the talks told Reuters.

** Differential Brands Group Inc said it would buy most of Hong Kong-based Global Brands Group Holding Ltd’s North American licensing business for $1.38 billion in cash.

** Bulgaria’s government gave a green light to relaunch a tender for the concession to operate Sofia Airport, the largest hub in the Balkan country.

** South African investment firm Long4Life has agreed to buy fashion retailer Rage for 3.9 billion rand ($287.5 million) to strengthen its lifestyle brands business.

** Bain Capital has won an auction to buy Italian chemicals maker Italmatch, three sources familiar with the matter told Reuters, trumping rival bids from KKR and Cinven.

** South African media and tech group Naspers Ltd has decided to put its Brazilian e-commerce business Buscapé up for sale, two people with knowledge of the matter told Reuters.

** Spanish oil major Repsol said it had bought the electricity generation and marketing assets of fellow Spanish firm Viesgo for 750 million euros ($868.73 million).

** China Three Gorges has held talks with European utilities to gauge their interest in buying EDP’s U.S. renewables business, as it looks to smooth the path for its planned takeover of the Portuguese company, three sources familiar with the matter said.

Compiled by Karan Nagarkatti and Nikhil Subba in Bengaluru

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