Deals of the day-Mergers and acquisitions

Teract SA

08/06/2023 14:47

(Adds: Kotak Mahindra Bank, Teract, Kingsway Capital)
       June 8 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 1330 GMT on
Thursday:

        ** A Canadian pension fund will sell a 1.66% stake,
worth $754 million, in India's Kotak Mahindra Bank  KTKM.NS ,
CNBC-TV18 reported, citing sources.
  
         urn:newsml:reuters.com:*:nL4N38032L
  
        
  
        ** French retailer Teract's  TRACT.PA  majority
shareholder InVivo is dropping plans to merge Teract with the
French retail business of debt-laden supermarket chain Casino
 CASP.PA , financial newsletter "La Lettre A" said.
  
         urn:newsml:reuters.com:*:nL8N3802PG
  
        
  
        ** Britain's Kingsway Capital has started meetings with
big tobacco firms as the private equity firm prepares to sell
its stake in Dubai-based tobacco business Advanced Inhalation
Rituals (AIR), two sources familiar with the matter told
Reuters.
  
         urn:newsml:reuters.com:*:nL8N37R4GB
  
    
    ** Japanese insurer Tokio Marine Holdings  8766.T  has
picked Goldman Sachs  GS.N  and Jefferies  JEF.N  to work on the
sale of its Southeast Asia life insurance business worth $1
billion, two sources with knowledge of the transaction said.
     urn:newsml:reuters.com:*:nL4N37Z2JE
    
    ** Toshiba Corp  6502.T  said its board has decided to
recommend shareholders take up a tender offer from a group led
by Japan Industrial Partners, helping pave the way for a $14
billion buyout to take the Japanese conglomerate private.
     urn:newsml:reuters.com:*:nL4N3800MH
    
    ** Britain's competition regulator said Hitachi's  6501.T 
1.7 billion euro ($1.8 billion) acquisition of Thales'  TCFP.PA 
signalling business could raise the costs of upgrading the
country's rail network, and it needs the companies to address
its concerns.
     urn:newsml:reuters.com:*:nL8N3801BX
    
    ** Austrian oil and gas company OMV  OMVV.VI  is not
planning on selling its majority stake in the petrochemicals
subsidiary Borealis, OMV Chief Executive Alfred Stern said on
Wednesday.
     urn:newsml:reuters.com:*:nL1N37Z2H2
    
    ** Engie Brasil  EGIE3.SA , the Brazilian arm of French
utility Engie  ENGIE.PA , said on Wednesday its board approved a
deal in which Itau Unibanco  ITUB4.SA  will invest $1 billion
reais in ($203.11 million) in a stake in its windpower
subsidiary.
     urn:newsml:reuters.com:*:nE1N37E02L

 (Compiled by Rajarshi Roy and Pratyush Thakur in Bengaluru)
 ((Rajarshi.Roy@thomsonreuters.com;pratyush.thakur@thomsonreuter
s.com))