December 8, 2022
  • December 8, 2022

Business of the Day Mergers and Acquisitions

By on February 18, 2022 0

Feb 18 (Reuters) – The following deals, mergers, acquisitions and divestitures were announced at 20:45 GMT on Friday:

** Kuwait’s National Aviation Services (NAS) said it increased its stake in John Menzies (MNZS.L) for 32.1 million pounds ($43.61 million), bringing its total stake to around 19%, from weeks before the deadline to make another takeover. offer for the British airport services group.

**Australian financial conglomerate Macquarie (MQG.AX) is seeking a majority stake in the gas transmission business of Britain’s National Grid (NG.L), which could value the division at more than $10 billion, reported Bloomberg News.

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**Brazilian power company Neoenergia SA (NEOE3.SA) has put its 10% stake in Norte Energia, which operates the Belo Monte hydropower plant in the Amazon region, up for sale, it said.

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**French media company Vivendi (VIV.PA), in which billionaire Vincent Bolloré has the largest individual stake, is considering increasing its cash offer for Paris Match magazine owner Lagardère (LAGA.PA), as that Vivendi is progressing towards a takeover of Lagardère.

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**US sporting goods retailer Fanatics said it has acquired 118-year-old Mitchell & Ness, known for its replica jerseys and streetwear, as well as US rapper Jay-Z and other celebrities.

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**DuPont (DD.N) said it would sell most of its mobility and materials business for $11 billion to Celanese Corp as the industrial materials maker continues to adjust its portfolio to focus on high-margin trades.

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**Australian financial conglomerate Macquarie (MQG.AX) is seeking to acquire a majority stake in the gas transmission business of Britain’s National Grid (NG.L), Bloomberg News reported.

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**Brazilian payment processor Cielo SA (CIEL3.SA) has announced that it has agreed to sell its stake in US-based Merchant e-Solutions Inc. to a unit of Integrum Holdings LP for up to 290 million dollars, pushing its shares up to six months. tops.

**Private equity firm Advent International Corp has acquired a 25% stake in Brazilian building materials maker Tigre Group for 1.35 billion reais ($262 million), the two companies said, forecasting a expected infrastructure boom in the United States and Brazil.

** Kuwait-based National Aviation Services bought a 13.2% stake in John Menzies (MNZS.L) for 73.4 million pounds ($100 million), boosting shares of the British airport services group as investors bet on a sweetened takeover bid.

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**Warren Buffett said Berkshire Hathaway Inc’s (BRKa.N) recent investment in Activision Blizzard Inc (ATVI.O) was “not a bargain” for Berkshire and was made without the knowledge that the game maker video would receive a takeover offer from Microsoft Corp .

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** US cybersecurity firm NortonLifeLock Inc has postponed the expected completion date of its takeover of London-listed rival Avast Plc (AVST.L) to April 4, saying it was awaiting regulatory approvals in the UK and in Spain.

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**Brazilian energy company Energisa Transmissao de Energia SA (ENGI11.SA) announced that it has agreed to acquire power transmission company Gemini Energy SA in a deal worth c. 822 million reais ($158.94 million).

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** Brazilian meatpacker JBS SA (JBSS3.SA) has announced that it is withdrawing its proposal to acquire the remaining shares of its US subsidiary Pilgrim’s Pride (PPC.O).

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Compiled by Rajarshi Roy and Chavi Mehta in Bengaluru

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