August 17, 2018 / 10:03 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Coca Cola; Updates Tyson Foods, SJW Group, Cava)

Aug 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** Brazilian meatpacker Marfrig Global Foods SA has agreed to sell its U.S. subsidiary, a key McDonald’s supplier, to Tyson Foods Inc for $2.5 billion, two people with knowledge of the matter told Reuters.

** CAVA, a U.S. privately held restaurant chain focusing on casual Mediterranean cuisine, said it has agreed to acquire publicly listed peer Zoe’s Kitchen Inc for around $300 million including debt, with backing from a group of investors.

** California Water Service Group ended its pursuit of SJW Group, clearing the way for SJW’s chief executive to move ahead with the $1.1 billion acquisition of a Connecticut-based water utility that he ran until last year.

** Shares in Mexico’s Coca-Cola FEMSA, the world’s biggest coke bottler, jumped more than five percent on Friday after it said it would sell its 51 percent stake in Coca-Cola FEMSA Philippines back to the Coca-Cola Company.

** Turkish fixed-line operator Turk Telekom said it clinched a cooperation deal with Vestel after President Tayyip Erdogan called on Turks to use locally-made mobile phones instead of Apple’s iPhone.

** A.P. Moller-Maersk said it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics.

** Sweden’s Granges put on ice its plans to form an aluminium manufacturing joint venture in North America with Japan’s Mitsubishi Aluminum Co, saying that the project was less attractive in “current circumstances”.

** Turkey’s BTK communications authority has approved the transfer of a 55 percent stake in Turk Telekom owned by Ojer Telekom (OTAS) to a special purpose vehicle set up by creditor banks, Turk Telekom said. (Compiled by Bharath Manjesh and Karan Nagarkatti in Bengaluru)

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