Deals of the day-Mergers and acquisitions

Reuters
Yesterday
Deals of the day-Mergers and acquisitions

Dec 24 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1045 GMT on Wednesday:

** U.S. private equity firm Warburg Pincus and India's Bharti Enterprises will together purchase a 49% stake in appliance maker Haier India, the companies said, giving them a foothold in the country's fast-growing electronic appliances market led by Samsung 005930.KS and LG LGEL.NS.

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** Sanofi SASY.PA will buy U.S. vaccines company Dynavax Technologies DVAX.O for around $2.2 billion (1.9 billion euros), expanding its vaccine portfolio, the French drugmaker said on Wednesday.

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** Pakistan International Airlines (PIA) is expected to be run by a new owner from April next year and receive fresh capital under a deal to privatise the flag carrier, the country's privatisation chief said.

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** The McGowan Companies has acquired California-based program administrator Westcap Insurance Services through an asset purchase agreement.

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** BP BP.L has agreed to sell a 65% stake in its Castrol lubricants business to U.S. investment firm Stonepeak for about $6 billion, a significant step in the oil major's $20 billion divestment plan aimed at cutting debt and boosting returns.

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** South Korea's LG Energy Solution (LGES) said it is selling a factory building and assets in the U.S. state of Ohio to Honda Development and Manufacturing of America.

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** Japan's Sapporo Holdings 2501.T will sell its real estate business to a consortium led by private equity firms KKR KKR.N and PAG for 477 billion yen ($3.06 billion), Sapporo said in a release.

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** A South Korean court rejected a request by two major shareholders of Korea Zinc 010130.KS - MBK Partners and YoungPoong 000670.KS - to block the zinc refiner's plan to issue new shares to help fund a $7.4 billion U.S. smelter.

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** Malaysian state-owned energy firm Petroliam Nasional IPO-PETO.KL said on Wednesday it would supply Chinese offshore oil and gas company CNOOC 600938.SS with 1 million metric tons per annum of liquefied natural gas $(LNG)$.

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** Monash IVF Group MVF.AX said that a takeover proposal from a consortium valuing the Australian fertility services provider at A$311.7 million ($208.84 million) has been withdrawn, sending its shares to over a one-month low.

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** German trading group BayWa AG BYWGnx.DE said on Tuesday it has agreed to sell its grain and oilseed trading branch Cefetra to a consortium of investors for about 125 million euros ($147.45 million).

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($1 = 0.8477 euros)

(Compiled by Anhata Rooprai in Bengaluru)

((Anhata.Rooprai@thomsonreuters.com))

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