Deals of the day-Mergers and acquisitions

Reuters
05-16
Deals of the day-Mergers and acquisitions

May 16 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Friday:

** South Africa's Tiger Brands <TBSJ.J> will sell its canned fruit business, Langeberg and Ashton Foods, as a going concern for a symbolic one rand to a new company set up by a consortium, the country's biggest food producer said.

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** Broadband and cable TV provider Charter <CHTR.O> is in advanced talks to combine with Cox Communications in a deal that values Cox at more than $30 billion, Bloomberg News reported.

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** Embattled German trading group BayWa <BYWGnx.DE> has received at least two offers for its Dutch grain and oilseed trading branch Cefetra, which the group has put up for sale as part of a wider attempt to cut debt, two sources close to the matter said.

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** Singapore Telecommunications <STEL.SI> said it had sold around 1.2% of its stake in India's Bharti Airtel <BRTI.NS> for S$2 billion ($1.54 billion), netting an estimated gain of S$1.4 billion.

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** The Icelandic government said late on Thursday it had completed the sale of its 45.2% stake in Islandsbanki for 90.58 billion Icelandic crowns ($702.66 million), divesting a holding that was a legacy of the 2008 financial crisis.

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** Canadian oil and gas producer Strathcona <SCR.TO> said late Thursday it plans to launch a C$5.93 billion ($4.25 billion) takeover bid for peer MEG Energy <MEG.TO>, aiming to create the country's fifth-largest oil producer.

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** Mapletree Industrial Trust <MAPI.SI> said it has agreed to sell three of its Singaporean industrial properties to Brookfield Asset Management <BAM.TO> for a total of S$535.3 million ($412.82 million).

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** Australian online travel agency Webjet Group <WJL.AX> rejected a controlling stake bid of A$314 million ($201.02 million) from private equity firm BGH Capital, saying the offer undervalued the company.

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** Utility Vistra <VST.N> said on Thursday it would acquire seven natural gas generation facilities, with a combined capacity of nearly 2,600 megawatts, from Lotus Infrastructure Partners for $1.9 billion, as it looks to meet growing power demand.

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(Compiled by Rajarshi Roy and Prakhar Srivastava in Bengaluru)

((Prakhar.Srivastava2@thomsonreuters.com))

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