July 5, 2018 / 10:12 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Altice; Updates Boeing)

July 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Thursday:

** Boeing Co struck a deal for a controlling stake in the commercial aircraft arm of Brazilian planemaker Embraer SA under a new $4.75 billion joint venture, the firms said, reshaping a global passenger jet duopoly.

** Perry Ellis International Inc recommended shareholders to vote for the buyout offer from the company’s founder instead of a higher bid made by men’s accessories maker Randa.

** Britain’s Sinclair Pharma said it had received a takeover approach from privately-owned China Grand Enterprises Inc. and its affiliate company Huadong Medicine Co, sending its shares up by almost 30 percent.

** Singapore’s anti-trust body proposed fines on ride-hailing firms Grab and Uber, provisionally finding that their merger had reduced competition and suggesting remedies such as the sale of their car-leasing businesses.

** U.S. investment manager Colony Capital’s deal to take control of four funds belonging to Dubai-based Abraaj is encountering investor resistance, four sources familiar with the matter said, piling further pressure on the embattled Middle East buyout firm.

** Generali has agreed to sell a majority of its German life insurance unit Generali Leben to private equity-backed Viridium for up to 1.9 billion euros, raising cash for the Italian insurer that could be used for targeted acquisitions.

** Akbank, Garanti and Isbank have applied to Turkey’s competition authority to take over 55 percent of Turk Telekom, the competition watchdog said.

** Creditor banks will extend a $3-4 billion loan to a special purpose vehicle that will be used to take over 55 percent of Turk Telekom, two sources close to the matter told Reuters.

** German industrial gases company Linde and peer Praxis are hoping to seal their merger this year, after agreeing to sell Praxair’s European gases business to Japanese rival Taiyo Nippon Sanso Corp.

** Opel’s management will face fierce resistance from its workers to a possible sale of the German carmaker’s research and development arm, its top labour boss said.

** Several bidders, including Liberty Global, are preparing offers for TV production company Endemol Shine, maker of classic reality show ‘Big Brother’ and the dystopian ‘Black Mirror’ dramas, before an initial deadline next week.

** Bulgaria is seeking offers for a 35-year concession to run Sofia Airport, build a new terminal and pay 281 million euros upfront alongside annual fees, tender documents showed.

** French conglomerate Bouygues is ready seize opportunities to beef up its telecoms business through mergers and acquisitions, its deputy chief executive said.

** Taiyo Nippon Sanso Corp said it had agreed to buy part of the European businesses of Praxair Inc for 5 billion euros ($5.9 billion) in a move aimed at boosting its global competitiveness.

** Fosun International Ltd said it would buy 69.18 percent of match-making and dating service provider Baihe Jiayuan Network Group Co Ltd from Chairman Guo Guangchang for 4 billion yuan ($603.4 million) cash.

** Airbus Chief Executive Tom Enders said on Wednesday he expects to see the first results of the company’s new majority stake in Bombardier’s CSeries jetliner program within weeks, around the time of the Farnborough Air Show later this month.

** Hudson’s Bay has agreed to sell about half of its European business to Austria’s Signa Holding in a deal that will bring together two major German department store chains, according to media reports on Wednesday.

** Private debt investment firm Alcentra has provided around £100m in debt financing to back Core Equity Holdings’ investment in Portman Dental Care, according to a source familiar with the deal.

** Altice has agreed to sell ‘Point de Vue’, a French magazine specialising on high society and royalty, as the telecoms and cable group continues its asset-disposal programme to cut debts. (Compiled by Uday Sampath and Nivedita Balu in Bengaluru)

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