Deals of the day-Mergers and acquisitions

Reuters
2025/07/03
Deals of the day-Mergers and acquisitions

Adds: Olo, Zurich Insurance Group, Specialist Risk Group, Athora, Carlyle Group; updates: Gold Reserve-Citgo Petroleum,

July 3 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Thursday:

** Investment firm Thoma Bravo has agreed to acquire Olo <OLO.N> in an all-cash deal valuing the restaurant software provider at about $2 billion, the company said.nL4N3T00UW

** Zurich Insurance Group has agreed to acquire Toronto-based cyber insurtech Boxx Insurance, which will operate as a standalone entity after the transaction.nL6N3T00KR

** Expansive intermediary Specialist Risk Group $(SRG)$ has announced the acquisition of Newcastle-based MGA Generation Underwriting from WF Risk Group.nL6N3T00J0

** Specialised life insurance group Athora is in talks to acquire Pension Insurance Corporation $(PIC.AU)$, valuing the UK insurer at about 5.7 billion pounds ($7.78 billion), Luxembourg-based major shareholder Reinet said. nL4N3T00DZ

** Private equity firm Carlyle Group <CG.O> is preparing to offload up to a 10% stake in India's Piramal Pharma <PIRM.NS>, online news portal Moneycontrol reported, citing sources.nL4N3T00QL

** Life and pensions company Chesnara <CSN.L> has agreed to buy HSBC's <HSBA.L> UK life insurance business for 260 million pounds ($355 million) in cash, Chesnara said.nL4N3T00ED

** Luxembourg-based investment vehicle Reinet Investments <REIT.LU> said it was in advanced talks with Athora Holding to sell its nearly 50% stake in UK insurer Pension Insurance Corporation.nL4N3T00D2

** Activist investor Starboard Value has built an over 9% stake in online travel firm Tripadvisor <TRIP.O>, a person familiar with the matter said on Wednesday. nL4N3SZ1IA

** Santander's SAN.MC plan to buy TSB for 2.65 billion pounds ($3.61 billion) and boost its position in the UK came together only a few weeks ago, after the Spanish bank had been considering a possible exit from Britain, three sources close to the process said. nL1N3T005I

** The Ardonagh Group has continued the build-out of its operations in Asia with the acquisition of a majority stake in Apex Insurance (Holdings) Limited in Hong Kong. nL6N3T00AS

** Global agribusiness Bunge Global <BG.N> said it officially closed a long-delayed deal to merge with Glencore-backed <GLEN.L> Viterra on Wednesday, two years after announcing the $34 billion mega-deal.nL1N3SZ0Z1

** A $7.38 billion bid by a unit of Toronto-listed miner Gold Reserve GRZ.V was named preliminary winner of an auction of shares in the parent of Venezuela-owned refiner Citgo Petroleum, organized by a U.S. court to pay creditors for debt defaults and expropriations in the South American country. nL4N3T00HN

** Property developer China Vanke's 000002.SZ biggest shareholder, state-owned Shenzhen Metro, will provide a loan of up to 6.2 billion yuan ($865.78 million) and has agreed to extend existing loans totalling 890 million yuan, it said .nL4N3T00LG

(Compiled by Rajarshi Roy and Siddhi Mahatole in Bengaluru)

((siddhi.mahatole@thomsonreuters.com))

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