December 8, 2017 / 11:03 AM / 2 years ago

Deals of the day- Mergers and acquisitions

(Adds Helios Investment Partners, Spotify, KKR & Co, CVS, Millenium & Copthorne Hotels, Aecon, TIM Participações, Seven-Up Bottling, Bayer, Toshiba, Lufthansa, PKO)

Dec 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Friday:

** South African construction firm Aveng said it terminated an agreement to sell a 51 percent stake in its Grinaker-LTA unit to a black-owned company, after the acquiring firm failed to fulfill funding conditions.

** Singapore’s top taxi operator ComfortDelGro Corp will buy a 51 percent stake in a unit of Uber that runs a fleet of private hire vehicles, as the companies seek to bridge the gap with dominant ride-hailing firm Grab.

** Tyson Foods, the largest U.S. meat processor, said on Thursday it slightly raised its stake in plant-based protein maker Beyond Meat as it looks to tap growing demand for alternative sources of protein.

** Drugmaker Gilead Sciences Inc said on Thursday it was acquiring privately-held Cell Design Labs Inc for up to $567 million, giving it access to new technology platforms that would help in the development of cancer drugs.

** Sucampo Pharmaceuticals Inc is considering selling itself after receiving takeover interest, Bloomberg reported on Thursday, citing people familiar with the matter.

** Private equity firm Helios Investment Partners has submitted a bid to acquire Nigeria’s 9mobile under a sale process aimed at finding new investors for the debt-laden telecoms firm, one person fimilar with the matter told Reuters.

** Music streaming company Spotify and the music arm of China’s Tencent Holdings Ltd will buy minority stakes in each other ahead of the Swedish firm’s expected stock market listing next year, the companies said.

** Mongolia’s Supreme Court has ruled against the government’s attempt to nationalise a 49 percent stake in one of Asia’s biggest copper mines, industry sources said.

** KKR & Co LP has agreed to buy industrial tool components manufacturer Hyperion from Sandvik, a deal the U.S. buyout firm said marked its first acquisition in the mid-market industrials sector.

** CVS Health Corp expects the U.S. Justice Department to do the antitrust review of its planned acquisition of health insurer Aetna Inc, a spokesman for the drugstore chain operator said.

** ED&F Man is winding down its physical grains business, three sources with knowledge of the matter said, in the latest leg of restructuring at the centuries-old commodities merchant.

** Millennium & Copthorne Hotels has agreed to a sweetened takeover offer from its majority shareholder that values the London-listed company at about 2 billion pounds ($2.67 billion) after an earlier bid was heavily criticised by minority investors.

** Canadian construction company Aecon Group Inc said its C$1.51 billion ($1.18 billion) acquisition by China’s CCCC International Holding Ltd, cleared two regulatory hurdles.

** Brazilian wireless carrier TIM Participações SA sees no “transformational” opportunities in mergers and acquisitions in the short term, but there are smaller targets that could help expand networks, Chief Executive Stefano De Angelis said.

** Nigeria’s Seven-Up Bottling Company will hold a meeting of shareholders in January to approve a bid by majority investor Affelka to buy out minorities in a 19.33 billion naira ($61.5 mln) takeover.

** EU antitrust regulators are set to warn Bayer its planned purchase of U.S. seed maker Monsanto may hurt competition, a person familiar with the matter said, a move that would force Bayer to offer concessions to address the concerns.

** Toshiba Corp and Western Digital Corp have agreed in principle to settle a dispute over the Japanese firm’s plans to sell its $18 billion chip unit and aim to have a final agreement in place next week, sources familiar with the matter said.

** Europe’s antitrust chief expressed “quite deep competition concerns” about Lufthansa’s plan to buy Air Berlin assets, yet another sign the German carrier may have to cough up more concessions in return for her approval of the deal.

** Poland’s biggest bank, PKO BP, denied it may merge with nearest rival Pekao next year, following a report by Rzeczpospolita newspaper that the two were in talks.

** Sri Lanka’s parliament approved a raft of tax concessions for a Chinese-led joint venture which will handle the southern port of Hambantota under a $1.1 billion deal that has sparked public anger and concerns in India and elsewhere. (Compiled by Akankshita Mukhopadhyay and Arjun Panchadar in Bengaluru)

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