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Deals of the day-Mergers and acquisitions
Apr 12, 2024 3:14 AM

April 12 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on Friday:

** Japan's Mitsubishi UFJ Financial Group ( MUFG ) is

buying a 20% stake in HDFC Bank's non-banking unit HDB

Financial Services, valuing the IPO-bound subsidiary between $9

billion and $10 billion, the Economic Times reported.

** The United Arab Emirates' state-owned oil company

recently considered buying Britain's BP but the

deliberations did not progress beyond preliminary discussions,

people familiar with the matter told Reuters.

** Societe Generale said it had agreed the sale to

Moroccan conglomerate Saham Group of Société Générale Marocaine

de Banques and La Marocaine Vie for 745 million euros ($797.45

million), as part of a wider divestment strategy, lifting its

shares by more than 2%.

** Australia's Boral ( BOALF ) recommended that investors

accept an up to A$1.5 billion ($980.70 million) takeover offer

from its largest shareholder Seven Group Holdings,

after negotiating an increase in the cash component of the deal.

** Brookfield Asset Management ( BAM ) is in advanced talks

to acquire a majority stake in private credit manager Castlelake

with an investment of more than $1.5 billion, the Financial

Times reported on Thursday.

** Four board members at Paramount Global ( PARAA ) will step

down amid reports that the entertainment giant controlled by

Shari Redstone was discussing a merger with Skydance Media, the

company disclosed in its proxy filing on Thursday.

(Compiled by Rajarshi Roy and Anuja Bharat Mistry in Bengaluru)

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