Deals of the day-Mergers and acquisitions

Reuters
05 Dec 2024
Deals of the day-Mergers and acquisitions

Adds BayWa, Aviva, MFE, UniCredit, U.S. Steel and Nvidia

Dec 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Germany's BayWa BYWGnx.DE is trying to raise 4 billion euros ($4.2 billion) by selling most of its foreign assets by 2027, according to a presentation seen by Reuters, as the stricken agricultural group seeks ways to lower its debt pile.

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** Key investors in the UK's Direct Line Insurance DLGD.L are holding out for a higher takeover bid from Aviva AV.L after the rejection of its 3.28 billion pound ($4.17 billion) offer, the Financial Times reported on Wednesday.

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** MFE-MediaForEurope, the TV group controlled by Italy's Berlusconi family, has asked a group of banks for a 3.4 billion euro ($3.6 billion) loan to cover any financing it may need related to Germany's ProSiebensat.1, a source told Reuters.

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** UniCredit CRDI.MI has until March to evaluate improving its takeover bid for Banco BPM AMI.MI, CEO Andrea Orcel told an investor call on Wednesday, according to a person who attended the virtual meeting.

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** Japan's Nippon Steel 5401.T is committed to its $15 billion acquisition of U.S. Steel X.N and is confident of completing it by year-end, a senior executive said, despite strong U.S. opposition including from President-elect Donald Trump.

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** EU antitrust regulators are asking Nvidia NVDA.O customers if they have been offered discounts to buy the company's graphics processing unit (GPU) software products together with its hardware as they scrutinise its $700 million bid for Run:ai.

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** Hong Kong-listed ESR Group 1821.HK received an offer from a consortium including Starwood Capital Group and Warburg Pincus to take it private, valuing the real estate firm at HK$55.19 billion ($7.09 billion), the company said in a statement.

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** French oil major TotalEnergies TTEF.PA has agreed to purchase German renewable developer VSB Group for 1.57 billion euros ($1.65 billion) from Swiss asset manager Partners Group, it said Wednesday.

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** U.S. private equity firm Insight Partners has sold a $2 billion stake in cloud data company Veeam Software in a secondary sale valuing the Swiss firm at $15 billion, it said.

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** U.S. private equity firm General Atlantic has struck a deal to buy Learning Technologies Group $(LTG.UK)$ LTGL.L for 802.4 million pounds ($1 billion), betting on rising training requirements for large corporations as they adapt to artificial intelligence.

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** Vodafone Group VOD.L will sell its remaining 3% stake in Indian telecom infrastructure developer Indus Towers INUS.NS, the British telecom group said.

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** U.S.-based vaccine maker Novavax NVAX.O said it will sell its manufacturing facility in the Czech Republic to Wegovy maker Novo Nordisk NOVOb.CO for $200 million and use the proceeds for its vaccine pipeline. nL3N3N50FK

** Italian insurance company Assicurazioni Generali GASI.MI has agreed to sell its fully-owned Philippine unit, Generali Life Assurance Philippines, to local firm Insular Life Assurance Company, it said. nL5N3N50GR

** Crescent Energy CRGY.N said on Tuesday it would acquire Carnelian Energy Capital-backed Ridgemar Energy's assets in the Eagle Ford basin in Texas for a cash-and-stock deal of $905 million, further strengthening its position in the basin. nL3N3N41JS

(Compiled by Rajarshi Roy, Aamir Sohail and Abhinav Parmar in Bengaluru)

((Aamir.sohail@thomsonreuters.com;))

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