March 17, 2020 / 10:35 AM / 15 days ago

Deals of the day-Mergers and acquisitions

(Adds Volkswagen, Costco, China Zhongwang Holdings, Chantiers de l’Atlantique, Gray Television, IDEAL, Finablr)

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

** Volkswagen said it still wants to buy out U.S. truckmaker Navistar but added that the coronavirus crisis will require the carmaker to conserve cash as it shuts down plants and throttles back production.

** Costco Wholesale Corp said it had acquired Innovel Solutions for $1 billion, as the membership-only retailer beefs up its final-mile delivery of bulky products across the United States and Puerto Rico.

** Aluminium firm China Zhongwang Holdings said it agreed a deal with Chinese real estate company CRED Holding that would see Zhongwang list its key extrusions business on the Shanghai Stock Exchange.

** European Union antitrust regulators have suspended their investigation into Fincantieri’s bid for France’s Chantiers de l’Atlantique while waiting for the Italian shipyard to provide requested data.

** Gray Television Inc has withdrawn its offer to acquire larger peer Tegna Inc because of concerns about the impact of the coronavirus outbreak on U.S. regional TV station operators, people familiar with the matter said.

** Mexican infrastructure group IDEAL said the Canada Pension Plan Investment Board and an affiliate of Ontario Teachers’ Pension Plan have offered to acquire 40% of the company’s shares for $50.4 billion pesos ($2.19 billion).

** The UAE’s central bank has taken control of the operations of UAE Exchange, a unit of troubled London-listed payment firm Finablr, the central bank said.

** Japan’s AGC has launched a takeover bid for the whole of Italian biotech company Molmed in a deal worth up to 240 million euros ($267 million), AGC said.

** A fund owned by Abu Dhabi state investor Mubadala, has taken a 3.4% stake in London-listed payments firm Finablr , a spokesman said.

** The chief executive of AMS bought 30,000 shares in the company for 270,000 euros, the Austrian sensor maker said.

** Russian lender VTB has acquired a 21.57% stake in Rostelecom, the company said. (Compiled by Amal S and Manojna Maddipatla in Bengaluru)

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