May 20, 2020 / 10:02 AM / 12 days ago

Deals of the day-Mergers and acquisitions

(Adds Affirma Capital, Bunge; Updates Fiat Chrysler)

May 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Bunge’s Brazil unit has signed a contract to acquire two soy crushing plants from Imcopa, according to a statement sent to Reuters, marking another step to consolidate its position as Brazil’s largest soybean crusher.

** Affirma Capital, run by former Standard Chartered bankers, has hired JP Morgan JPM.N to advise on the sale of the private equity firm’s minority stake in a Jordanian agricultural and food processing company, two sources told Reuters.

** Activist hedge fund investor Teleios Capital urged the management of German real estate lender Aareal Bank to be transparent about what it called “serious bidders” for its Aareon division that had been rejected.

** Terms of a planned merger between Fiat Chrysler and Peugeot-owner PSA are set in stone, FCA’s chairman said, brushing off talk that some aspects of the deal might be re-negotiated because of the COVID-19 crisis.

** Germany’s second-largest steelmaker Salzgitter on Wednesday said it was not in talks with larger rival Thyssenkrupp about consolidation, pouring cold water on hopes for the creation of a national metals giant.

** Private-equity group HitecVision’s NEO business has renegotiated its deal to buy British North Sea oilfields from Total, with Omani partner Petrogas dropping out and the French seller providing financial help, Hitec said.

** The Tanzanian unit of Kenya’s ARM Cement Plc has been sold to China’s Huaxin Cement company, its administrator PricewaterhouseCoopers and Huaxin said, paving way for completion of one of its production plant.

** Indigo Partners is teaming up with Oaktree Capital Management in its offer for Virgin Australia Holdings Ltd and will consider adding an Australian partner as the bidding process progresses, Indigo managing partner Bill Franke said. (Compiled by Shanti S Nair and C Nivedita in Bengaluru)

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