Deals of the day-Mergers and acquisitions

Reuters
Mar 17
Deals of the day-Mergers and acquisitions

March 17 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 0930 GMT on Tuesday:

** Woolworths <WHLJ.J> said it has agreed to acquire privately held in2food Holdings for an undisclosed amount as the food and clothing retailer aims to better control the quality and supply of its premium convenience food products.

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** Societe Generale <SOGN.PA> said it had signed a preliminary agreement with regional French bank Credit Mutuel Arkea to sell part of its securities services business serving retail banking clients, in the latest step by CEO Slawomir Krupa to streamline the lender's portfolio.

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** Finnish lift maker Kone Oyj <KNEBV.HE> is in talks to buy TK Elevator, which has been preparing for an initial public offering, Bloomberg News reported on Monday, citing people familiar with the matter.

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** Ant Group is set to close its HK$2.81 billion ($358.88 million) acquisition of a controlling stake in Bright Smart Securities & Commodities <1428.HK> by the end of the month following the satisfaction of all conditions, the companies said on Monday.

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** Brazilian state-run firm Petrobras <PETR3.SA> said on Monday it had decided to exercise its right to purchase Malaysian company Petronas' 50% stake in two offshore fields in Brazil for $450 million, according to a securities filing.

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** Australia's Pepper Money <PPM.AX> said it has received a lower revised takeover proposal from investment manager Challenger <CGF.AX> valuing it at A$1.01 billion ($713.67 million), down from its earlier valuation of A$1.16 billion.

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** Drone maker AeroVironment <AVAV.O> said on Monday it has acquired Empirical Systems Aerospace, a producer of unmanned aircraft systems and advanced air mobility platforms, in a cash-and-stock deal valued at about $200 million.

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(Compiled by Rajarshi Roy and Varun Sahay in Bengaluru)

((Varun.sahay@thomsonreuters.com))

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