Deals of the day-Mergers and acquisitions

Reuters
Oct 24
Deals of the day-Mergers and acquisitions

Adds: Standard Chartered, FG Nexus Updates:

Oct 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** Standard Chartered <STAN.L> has agreed to sell its wealth and retail banking business in Uganda to South African lender Absa Group <ABGJ.J> for an undisclosed amount, the companies said.

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** FG Nexus has agreed to sell a majority stake in FG Reinsurance and FG Re Solutions to Devondale Holdings for $3 million in cash, a $1.25 million note and 40% equity ownership of Devondale.

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** The Swiss National Bank has sold its stake in Anglo-Australian miner Rio Tinto <RIO.AX>, <RIO.L>, adding to a series of recent divestments from companies in extractive industries, LSEG data shows.

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** Japanese brewer Kirin <2503.T> has put its Kentucky bourbon brand Four Roses up for sale for $1 billion, the Financial Times reported, citing people familiar with the matter.

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** Australia's GPT Group said that it is acquiring a 50% stake in Sydney's iconic Grosvenor Place office tower for A$860 million ($558.83 million), forming a new partnership with the Commonwealth Superannuation Corp.

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** Nicolet Bankshares <NIC.N> is acquiring MidWestOne Financial Group <MOFG.O> for $864 million in stock, in one of the bigger bank deals of the year.

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(Compiled by Sahil Pandey and Rajarshi Roy in Bengaluru)

((Sahil.Pandey@thomsonreuters.com))

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