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Deals of the day-Mergers and acquisitions
Jun 11, 2024 1:16 PM

June 11 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 1945 GMT on Tuesday:

** KKR & Co ( KKR ) has agreed to buy a "significant"

minority stake in Quick Quack Car Wash, the investment firm told

Reuters and sources familiar with the deal said KKR would pay

$850 million.

** Italian energy company Eni said it had launched

an accelerated bookbuilding procedure to sell 10% of the share

capital of oilfield group Saipem.

** Insurance brokerage firm Marsh McLennan's ( MMC ) unit

Mercer has agreed to buy Cardano, a London-based pension fund

manager that oversees $66 billion of assets, to widen its

foothold in the UK market.

** Italy's Snam is in talks with suitors over the

sale of its 23.7% stake in Interconnector, the company that owns

and operates the gas pipeline between Britain and Belgium, the

CEO of the Italian gas grid operator said.

** Singapore-based consumer group Tolaram agreed to buy

Diageo's ( DEO ) 58.02% shareholding in Guinness Nigeria

and enter into long-term licence and royalty

agreements, the Nigerian brewer said in a statement.

** British Airways owner IAG has again offered

remedies to the European Commission aimed at securing EU

approval of its takeover of Spain's Air Europa.

** Spain's stock market supervisor said it has started

assessing BBVA's 12.28 billion euro ($13.19 billion)

hostile takeover bid for Sabadell, a potential tie-up

that Madrid opposes.

** Spanish holding company Criteria said it sold a 2.64%

stake in mobile phone mast operator Cellnex for 613

million euros ($660.02 million) in a private placement.

** IndiGo airline's biggest shareholder will sell a 2% stake

worth $394 million in the low-cost Indian carrier, per a term

sheet seen by Reuters, marking its first such sale in at least

four years during which the company's stock has soared.

** Private equity firm Bain Capital has offered to buy

Australia's Bapcor in a A$1.83 billion ($1.21 billion)

deal, which analysts said could draw attention of more suitors

to the struggling auto parts retailer.

** Spanish holding firm Criteria said on Monday it had not

reached an agreement with Abu Dhabi's TAQA over a

potential joint takeover bid for Spanish gas firm Naturgy

.

** Mining giant Rio Tinto said it will buy

Mitsubishi Corp's ( MSBHF ) 11.65% stake in Boyne Smelters (BSL)

for an undisclosed sum.

** Buyout firm Apollo Global and Kyndryl Holdings ( KD )

, the information technology services provider that was

spun out of IBM ( IBM ), are in talks about a joint bid for DXC

Technology ( DXC ), people familiar with the matter said on

Monday.

(Compiled by Rajarshi Roy and Sourasis Bose in Bengaluru)

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