November 15, 2019 / 10:31 AM / a month ago

Deals of the day-Mergers and acquisitions

(Adds CEFC Shanghai Securities, SAP, Steinhoff International, Carpetright, Morellato, Vivendi, Savannah Petroleum, Roche, Sistema and Updates Telkom SA)

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

** Russia’s Sistema and Russia-China Investment Fund (RCIF) said they were aiming to reduce their holdings in toy retailer Detsky Mir by offering existing shares via a secondary public offering (SPO) set for next week.

** Swiss drugmaker Roche is paying up to $1.4 billion to buy U.S. biotech company Promedior, whose main drug candidate against the lung disease idiopathic pulmonary fibrosis is set to begin late-stage trials, Promedior said.

** Savannah Petroleum has concluded its purchase of Nigerian oil and gas company Seven Energy International, it said in a statement.

** Vivendi could reduce its holding in Italian broadcaster Mediaset in a potential deal to end a long-running legal row between the two companies, three sources close to the matter said.

** Italian jewellery and watch group Morellato has bought French jewellery retail chain Cleor with an investment of almost 50 million euros ($55 million), the company said, in the latest deal in the sector.

** Carpetright said it has agreed to be taken private by its largest shareholder, Meditor, in a deal to rescue Britain’s biggest floor coverings retailer and pay down debt.

** Scandal-hit South African retailer Steinhoff International said it had sold Blue Group, owner of Bensons for Beds and Harveys Furniture, to Alteri Investors for an undisclosed price.

** Improving profit margins and cash flow at SAP will create room for further capital return to shareholders after a 1.5 billion euro ($1.7 billion) buyback the company plans for 2020, finance chief Luka Mucic said.

** South Africa’s Telkom SA said it was in talks about a potential takeover of Cell C, the country’s third biggest mobile carrier, hitting shares in Cell C majority shareholder Blue Label Telecoms.

** China securities regulator said that CEFC Shanghai Securities Co, part of conglomerate CEFC China Energy Co Ltd, has been taken over by state-owned Guotai Junan Securities Co due to irregularities.

** A merger of telephone networks in Italy is something that can be considered as long as control does not end up with Telecom Italia (TIM), the head of Vodafone’s Italian operations said.

** Sumitomo Mitsui Financial Group’s (SMFG) chances of acquiring a majority stake in Indonesia’s PT Bank Permata have improved after two key rivals dropped out of the race to buy the $2.4 billion-valued lender, sources said.

** Japanese stationery supplies maker Kokuyo Co Ltd said it aimed to take a majority stake in Pentel through a tender offer, stepping up an aggressive move on a rival in a country where hostile takeovers are uncommon.

** Nordic real estate firm SBB has struck a deal to buy rival Hemfosa for 23.5 billion crowns ($2.42 billion) in cash and shares to create a Nordic leader in public service properties such as schools and care homes.

** Fortress Investment Group raised its bid for Japan’s Unizo Holdings by just 2.5%, still far below an offer from rival suitor Blackstone Group but keeping its hand in what could become a long fight for the hotel operator. (Compiled by Ambhini Aishwarya in Bengaluru)

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