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Deals of the day-Mergers and acquisitions

Published 21/08/2017, 11:41 pm
© Reuters.  Deals of the day-Mergers and acquisitions

(Adds Linde , SPIC; updates Lufthansa, Rosneft, Great Wall Motor, Total )

Aug 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Monday:

** The leadership of German industrial gases group Linde LING.DE urged shareholders to accept a proposed $74 billion merger with U.S. peer Praxair (NYSE:PX) PX.N . China's SPIC Overseas is delaying plans to buy a 3,568-megawatt hydropower dam in Brazil because of uncertainty about how much electricity the project is allowed to sell, newspaper Valor Econômico reported. Total TOTF.PA is buying Maersk's oil and gas business in a $7.45 billion deal which the French energy major said would strengthen its operations in the North Sea and boost earnings and cash flow. China's Great Wall Motor Co Ltd 601633.SS is interested in bidding for Fiat Chrysler Automobiles (FCA) FCHA.MI , a company official said, confirming reports it is pursuing all or part of the owner of the Jeep and Ram truck brands. China Poly Group Corp, a real estate developer, will merge with Sinolight Corp and China National Arts and Crafts Group, the state asset regulator said, part of China's ongoing efforts to slim down its bloated state sector. Stada's STAGn.DE chief executive said he was in agreement with the German generic drugmaker's new private-equity owners that larger acquisitions would not be on the cards for Stada over the next two to three years. Lufthansa LHAG.DE has received more German government support in its bid to take over substantial assets of insolvent rival Air Berlin AB1.DE , with German Economy Minister Brigitte Zypries saying she would welcome such a move. Sempra Energy (NYSE:SRE) SRE.N said it will buy Oncor for $9.45 billion in cash after Energy Future Holdings Corp, which indirectly owns Oncor, abandoned a deal to sell the power transmission company to Warren Buffett's Berkshire Hathaway (NYSE:BRKa) Inc BRKa.N . Russian oil major Rosneft, oil trader Trafigura and Russian fund UCP closed their $12.9 billion purchase of Indian refiner Essar Oil, giving the companies a foothold in a country that is among the world's fastest growing oil users. Chinese conglomerate HNA Group has completed the acquisition of a 16.2 percent stake in Swiss airport retailer Dufry AG DUFN.S from Singaporean sovereign funds GIC and Temasek, Dufry and HNA said. Swiss bank Vontobel VONN.S has agreed to buy a roughly 2 billion Swiss franc ($2.1 billion) portfolio of eastern European private banking clients from Notenstein La Roche Private Bank Ltd, it said. Private equity suitors Kohlberg Kravis Roberts & Co KKR.N and Affinity Equity Partners pulled bids for Australian telco Vocus Group Ltd VOC.AX four days after the company's third profit warning in nine months. South Korean shipper Hyundai Merchant Marine Co Ltd (HMM) 011200.KS is in talks with BlackRock Inc (NYSE:BLK) BLK.N about a potential investment but details have yet to be discussed, a HMM spokesman said. China Unicom's $11.7 billion ownership reform plan does not violate rules, the nation's securities regulator said, helping shares in the telecom group's units surge as they resumed trade on Monday after speculation that the deal was under scrutiny. Italy's former telephone monopoly Telecom Italia (TIM) TLIT.MI should seek an agreement with Mediaset MS.MI to combine the telephone company's distribution network with the broadcaster's content, an Italian government official told La Stampa newspaper on Sunday. Dubai Aerospace Enterprise (DAE) has become one of the world's largest aircraft lessors after announcing on Sunday it had completed the acquisition of Dublin-based AWAS AWASA.UL , the industry's tenth biggest firm. British wealth manager Rathbone Brothers RAT.L said on Saturday it was in exclusive talks with UK-based financial services provider Smith & Williamson over a possible all share merger.

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