Deals of the day-Mergers and acquisitions

Reuters
05-28
Deals of the day-Mergers and acquisitions

May 28 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT :

** Three companies based in the United Arab Emirates have approached the Italian Treasury with a proposal to buy the Russian operations of UniCredit <CRDI.MI> at a steep discount, a document seen by Reuters showed.

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** British pest control company Rentokil Initial <RTO.L> said it would sell its workwear, flat linen and clean room business in France to H.I.G. Capital in a deal that values the business at about 410 million euros ($463.8 million).

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** British American Tobacco <BATS.L> has sold a $1.5 billion stake in Indian consumer goods company ITC <ITC.NS> at 413 Indian rupees per share, according to a term sheet seen by Reuters.

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** Singapore's CapitaLand Ascendas REIT <CAPD.SI> said it will acquire a data centre and a premium business park property in the city-state for a combined S$700.2 million ($543.63 million).

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** Motorola Solutions <MSI.N> said on Tuesday it would acquire wireless-radio maker Silvus Technologies for $4.4 billion as the safety equipment maker looks to bolster its position in the market and take advantage of rising demand.

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** Definity Financial Corporation has agreed a definitive C$3.3 billion ($2.4 billion) cash deal to acquire all but the surety unit of Travelers Canada in a deal that would establish the Waterloo, Ontario-based insurer as the country’s fourth largest P&C carrier.

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(Compiled by Rajarshi Roy and Prakhar Srivastava in Bengaluru)

((Prakhar.Srivastava2@thomsonreuters.com))

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