December 4, 2018 / 9:09 PM / 12 days ago

Deals of the day-Mergers and acquisitions

Dec 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Tuesday:

** A federal judge who has been asked to sign off on the U.S. government’s decision to approve CVS Health Corp’s acquisition of insurer Aetna Inc said he was “less convinced” than the government that the companies had struck a deal that ensured the merger was legal under antitrust law.

** Debt-laden Indian carrier Jet Airways Ltd is close to finalising a deal under which shareholder Etihad Airways will inject fresh funds, news channel CNBC-TV18 reported, citing sources.

** U.S. oil and gas company Chevron has decided to launch the sale of its stake in Azerbaijan’s largest oil field as well as the Baku-Tbilisi-Ceyhan (BTC) pipeline, it said in a statement.

** Germany’s Daimler AG has raised the prospect of increasing its stake in a joint venture with Chinese partner BAIC Motor Corp, Bloomberg reported, citing people familiar with the matter.

** British supermarket group Sainsbury’s proposed takeover of rival Asda would not be cleared by the competition regulator without the need for “extensive remedies” if precedent is followed, according to market leader Tesco.

** Oman’s Raysut Cement said it plans to acquire Kenya’s ARM Cement, which went into administration in August, as part of its expansion plans.

** Canadian mining company Teck Resources Ltd, said it has agreed to sell a 30 percent stake in its Quebrada Blanca copper mine expansion in northern Chile to Japan’s Sumitomo for $1.2 billion.

** BGC, one of Australia’s biggest privately owned companies, said it has hired Macquarie Group to find a buyer for the business, in a possible deal that local media said would be worth about A$2 billion ($1.5 billion).

** Travis Perkins, Britain’s largest building materials group, plans to sell its plumbing and heating division, and said it could divest its Wickes home improvement chain in the future.

** Dutch insurer ASR said it was acquiring Loyalis, part of pensions administrator APG, in a 450 million euro ($512 million) deal to expand in disability insurance.

** The sale of a stake in German public-sector bank NordLB is facing delays as bidders Cerberus and Apollo were asked to elaborate on their offers, people close to the matter said.

** Singapore-based specialty retailer V3 Group Ltd said private equity firm KKR & Co will invest up to S$500 million ($366.30 million) for a “significant stake” in the company.

** TIBCO Software Inc, a large privately-held business software provider, is acquiring French data management company Orchestra Networks in a move that will bolster its ability to help clients organize customer data, according to sources familiar with the matter. (Compiled by Bharath Manjesh in Bengaluru)

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