November 15, 2018 / 10:01 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds Novartis, Ineos, Vivendi, Tele2, Salini Impregilo, Uniper, Spectrum Brands, Hafslund, Botswana Diamonds; Updates Jet Airways)

Nov 15 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Thursday:

** Swiss drugmaker Novartis is “completely committed” to its $10 billion-per-year Sandoz generics business, a spokesman said, after a newspaper reported Chief Executive Vas Narasimhan planned to split the unit off.

** Chemicals maker Ineos Enterprises said it will buy Ashland Global Holdings Inc’s composites unit for $1.1 billion, chiefly for its resin business.

** Vivendi said it has no intention of selling its stake in Telecom Italia, despite a bruising battle with an activist fund, and was lining up banks for a possible sale of part of its Universal Music Group division.

** Sweden’s Tele2 said its Dutch subsidiary was not viable as a standalone business, lending weight to a takeover by Deutsche Telekom’s business there that European regulators are due to rule on this month.

** Italian construction company Salini Impregilo said it had filed a non-binding expression of interest for troubled rival Astaldi.

** Activist fund Elliott’s raised stake in Uniper could pave the way for a new takeover attempt by Finland’s Fortum, which is already the German energy group’s largest shareholder, according to people close to the matter.

** Consumer products company Spectrum Brands Holdings Inc said it would sell its global auto care business to Energizer Holdings Inc in a cash-and-stock deal valued at $1.25 billion.

** Hafslund E-CO, Norway’s largest power utility by customer numbers, plans to merge key parts of its operations with smaller rival Eidsiva in the country’s largest electricity market tie-up in decades, the companies said.

** Botswana Diamonds said it had bought joint venture partner Alrosa out of Sunland Minerals and was in talks about selling a stake in the project to another partner.

** Cornershop, a Latin American grocery delivery app being acquired by Walmart, plans to expand into Canada early next year as a test market for the United States, an executive for the three-year-old mobile app said.

** An investment arm of Quicken Loans founder and billionaire Dan Gilbert said on Wednesday it agreed to sell the Greektown Casino-Hotel in Detroit to a real estate investment trust and a partner for $1 billion, in a sign of industry consolidation.

** Warren Buffett’s Berkshire Hathaway Inc deepened its commitment to the U.S. financial industry, announcing a $4.02 billion stake in JPMorgan Chase & Co and new investments in PNC Financial Services Group Inc and Travelers Companies Inc, plus a stake in Oracle Corp .

** Shares in India’s Jet Airways Ltd jumped 25 percent on Thursday following media reports that the debt-laden airline was nearing a rescue deal with Indian conglomerate Tata Sons Ltd.

** Chinese financial firm JD Group has put its Hong Kong insurance business, FTLife Insurance Co Ltd, up for sale and a deal could fetch between $2 billion and $2.5 billion, three people with knowledge of the matter said.

** South Korea’s CJ CheilJedang Corp said it bought privately held U.S. frozen foods firm Schwan’s Co for $1.84 billion, the South Korean food-to-entertainment conglomerate’s biggest-ever acquisition.

** Germany’s second largest sugar refiner Nordzucker is in talks to buy Australian producer Mackay Sugar, a Nordzucker spokeswoman said.

** Norway’s Equinor has bought a 9.7-percent stake in solar energy producer Scatec Solar, raising its ownership to 10 percent, the state-controlled energy firm said.

** Cable operator Liberty Global is investing to strengthen its Swiss UPC video offering so it could stand alone if a strategic partner isn’t found, CFO Charlie Bracken said.

** Italy will not be selling stakes in oil major Eni or other “family jewels” as part of its privatization programme, Deputy Prime Minister Matteo Salvini said. (Compiled by Mary Ann Alapatt and Arundhati Sarkar in Bengaluru)

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