August 13, 2019 / 8:04 PM / 5 days ago

Deals of the day-Mergers and acquisitions

(Adds Petroleo Brasileiro SA, Grupo Boticário-Beleza na Web, Third Point LLC, British American Tobacco, Steinhoff; Updates CBS-Viacom,)

Aug 13 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:

** CBS Corp and Viacom Inc have reached a deal to reunite media mogul Sumner Redstone’s U.S. entertainment empire after 13 years apart.

** More than 20 potential bidders are interested in the refineries that Brazil’s state-controlled oil company Petroleo Brasileiro SA plans to sell, the company’s chief executive officer said on Tuesday.

** Brazilian cosmetics firm Grupo Boticário said on Monday it had agreed to buy e-commerce platform Beleza na Web for undisclosed amount, as part of plans to strengthen its online presence, while competition intensifies in the beauty business.

** Scandal-hit Steinhoff’s only hope for survival is to sell off assets to become a retail-focused holding company, it said, as it fights to recover from a $7 billion accounting fraud and share price crash.

** British American Tobacco’s (BAT) proposed takeover of e-cigarette maker Twisp won approval from South Africa’s Competition Tribunal after the UK-based group agreed to a series of conditions.

** Hedge fund Third Point LLC said that it recently cut its investment in United Technologies Corp, becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. that the funds said they would not support.

** Genworth Financial Inc agreed to sell its 57% stake in its Canadian mortgage insurance unit for about C$2.4 billion ($1.81 billion), as the U.S. insurer looks to close its long-delayed sale to China Oceanwide Holdings Group Co Ltd.

** Sensor specialist AMS said it took note of Osram’s willingness to discuss a takeover and was looking forward to discussions.

** Scout24 will explore the potential sale or spin-off of its autos marketplace, CEO Tobias Hartmann said, responding to activist investor Elliott’s call to sell the business to boost shareholder returns.

** Swedish telecoms operator Telia has offered concessions in an attempt to allay EU antitrust concerns over its $957 million bid for Bonnier Broadcasting, the European Commission said. (Compiled by Aakash Jagadeesh Babu and Dominic Roshan K.L. in Bengaluru)

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