Deals of the day-Mergers and acquisitions

Reuters
2024-10-21

Oct 21 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Monday:

** China's state-owned CITIC Ltd has agreed to sell its 19.23% stake in Fast Food Holdings, the company behind McDonald's China and Hong Kong operations, to Trustar Fast Food Holdings for $430.3 million.

** Polish software firm TTMS is planning a European acquisition in 2025, focusing on Scandinavia, Germany, and Switzerland, while takeovers in the U.S. will probably be conducted in 2026-27, its CEO Sebastian Sokolowski said on a press call.

** Shares in Dutch coffee maker JDE Peet's surged more than 16% after German conglomerate JAB said it will increase its majority stake to 68% by acquiring all of Mondelez's shares in a 2.2 billion euro ($2.4 billion) deal.

** Swedish investment firm EQT AB has formed a consortium with Neuberger Berman Private Markets and Canada Pension Plan Investment Board (CPPIB) to acquire international schools operator Nord Anglia Education for $14.5 billion, it said.

** Norway's largest bank DNB has agreed to buy Swedish investment bank and asset manager Carnegie from private equity firm Altor and minority owners for around 12 billion Swedish crowns ($1.14 billion), it said.

** Adar Poonawalla, CEO of vaccine maker Serum Institute of India, will buy a 50% stake in filmmaker Karan Johar's Dharma Productions for 10 billion rupees ($119 million), the Bollywood studio said.

** French drugmaker Sanofi said it had entered exclusive talks to sell a 50% controlling stake in its consumer health business Opella to U.S. private equity firm Clayton Dubilier & Rice (CD&R).

** New York-based insurer MetLife Inc is in advanced talks to buy PineBridge Investments' assets outside of China in a deal that could be valued at $1 billion to $1.5 billion, Bloomberg News reported.

** UBS is offloading part of the Credit Suisse business it acquired last year, with a deal to sell the fallen bank's 50% stake in credit card provider Swisscard.

(Compiled by Rajarshi Roy and Rishi Kant in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com;))

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