ETF News

Deals of the day-Mergers and acquisitions

(Adds Assicurazioni Generali, Empresas Publicas de Medellin, Vodafone)

June 26 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Italy’s top insurer Assicurazioni Generali and Spanish rival Grupo Catalana Occidente are vying to take control of Portuguese insurance firm Tranquilidade in a deal worth up to $682 million, five sources familiar with the matter told Reuters.

** EU antitrust regulators are set to approve Vodafone’s $22 billion bid for Liberty Global’s cable networks in Germany and central Europe based on concessions offered in May, people familiar with the matter said.

** Colombian public services company Empresas Publicas de Medellin sold 13.2% of its shares in electricity company ISA for $73.3 million, the stock exchange said.

** Barrick Gold Corp stuck to its offer to buy out Acacia Mining, saying assumptions made by the smaller firm about its mine plans were out of touch and changes were indeed needed.

** Trading has been so poor in recent months that women’s fashion chain Bonmarche recommended shareholders accept British billionaire businessman Philip Day’s buyout offer, two months after dismissing it as “inadequate”.

** Beauty products retailer Oriflame’s founding family will buy out the group after other owners representing 60.5% of shares accepted a bid during the initial acceptance period.

** Italian utility Enel has made a non-binding bid for assets that U.S.-based Sempra Energy is selling in Chile and Peru, Enel chief financial officer Alberto De Paoli said.

** Private equity firm TDR Capital has made a recommended offer for BCA Marketplace, the owner of car selling website WeBuyAnyCar, for about 1.91 billion pounds ($2.42 billion).

** Abu Dhabi Financial Group and Shuaa Capital have agreed on the terms of their merger, which will create an entity with $12.8 billion in assets under management. (Compiled by Debroop Roy and Bharath Manjesh in Bengaluru)