March 20, 2019 / 10:12 AM / 3 months ago

Deals of the day-Mergers and acquisitions

(Adds Kooples, Uniper, Vodafone, El.En., Spirit Aerosystems)

March 20 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2010 GMT on Wednesday:

** U.S. aircraft parts maker Spirit Aerosystems’ secured conditional EU approval to buy Asco Industries after agreeing to modify a joint venture which deals with Airbus to avoid the possibility of anti-competitive practices.

** Italian laser equipment maker El.En. has attracted interest from investment funds but its current owners are unlikely to sell their combined stake of just under 50 percent, the company’s general manager told Reuters.

** Vodafone will receive a warning from EU regulators about possible anti-competitive effects from its $22 billion deal to buy Liberty Global’s German and eastern European assets, two people familiar with the matter said.

** Germany’s Uniper is in advanced talks with Australian fund First State Investments to sell its stake in a liquefied natural gas terminal in Italy, three sources said, raising concerns in Rome over the sale of strategic assets.

** The Kooples, a French clothing label that competes with “affordable luxury” brands like Sandro or Britain’s Whistles, is in talks to be taken over by private Swiss investor Maus Freres, the companies said.

** Nexstar Media Group is selling 19 television stations to Tegna Inc and E.W. Scripps Co for $1.3 billion to satisfy regulatory demands before it buys Tribune Media Co, it said.

** German Finance Minister Olaf Scholz said that he had not made any provisions for costs related to a possible merger of Deutsche Bank and Commerzbank in his budget plans.

** Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.

** Walt Disney Co closed its $71 billion acquisition of Twenty-First Century Fox Inc’s film and television assets, giving its upcoming streaming service a range of popular content as it takes on Netflix Inc.

** Shareholders in Spain’s DIA backed a rescue plan for the faltering supermarket chain in a vote which clears the way for Russian tycoon Mikhail Fridman’s investment fund to proceed with a takeover bid.

** U.S. supermarket chain Kroger Co said it would sell its Turkey Hill business to an affiliate of private equity firm Peak Rock Capital.

** Helsinki-headquartered Invesdor has agreed to buy Austrian peer Finnest in an all-share deal, hoping the acquisition will spark further consolidation in the fragmented European crowdfunding market.

** Administrative services provider McMillan Shakespeare Ltd called off its A$911 million ($645.7 million) takeover of peer Eclipx Group following a dismal trading update from Eclipx.

** Chinese technology company Tencent Holdings Ltd is considering a bid for part of Singapore state investor Temasek Holdings (Private) Ltd’s stake in beauty and health retailer A.S. Watson, Bloomberg reported, citing sources.

** Small Australian copper producer Aeris Resources Ltd said it had offered to buy global trader and miner Glencore’s CSA copper mine in the state of New South Wales for $575 million.

** French investment group Eurazeo has sold its entire stake in Italian luxury clothes company Moncler for around 445 million euros ($505 million). (Compiled by Debroop Roy in Bengaluru)

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