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Deals of the day-Mergers and acquisitions
Jun 24, 2024 3:19 AM

June 24 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0945 GMT on Monday:

** Italian energy group Eni expects to complete the

sale of a minority stake in its biofuel unit Enilive by the end

of 2024, Chief Executive Claudio De Scalzi said on Monday.

** Covestro's ( CVVTF ) said on Monday it would

negotiate with suitor Abu Dhabi National Oil Co (ADNOC) based on

a takeover offer of 63 euros ($67.57) per share by the Emirates'

energy company.

** Allianz Global Investors (AGI), one of the investment

arms of German insurer Allianz, has become the first foreign

company to own a stake in China's pension insurance giant Guomin

Pension.

** German property lender Aareal Bank will book a gain of

around 2 billion euros ($2.14 billion) after it sells its tech

unit Aareon to private equity firm TPG and investor CDPQ, it

said in announcing the deal.

** Carlsberg said that PepsiCo ( PEP ) has agreed

to waive a clause in its bottling deal with Britvic ( BTVCF ),

making the British firm a more attractive acquisition after a

$3.9 billion bid by the Danish brewer was rejected.

** Australian miner Paladin Energy ( PALAF ) said it had

entered into an agreement to buy Canada's Fission Uranium Corp ( FCUUF )

for an implied equity value of C$1.14 billion ($833.03

million).

** Safran has entered exclusive talks to buy

Preligens, a specialist in artificial intelligence solutions in

aerospace and defence, at an enterprise value of 220 million

euros ($235.4 million), the French jet engine maker said.

** British e-commerce firm THG has agreed to sell

its portfolio of luxury goods websites to Mike Ashley's Frasers

Group ( SDIPF ) for an undisclosed sum, it said.

** Australia's Premier Investments ( PMAUF ) said department

store chain Myer Holdings had offered to buy its

apparel brands business in an all-scrip deal, sending its shares

more than 7% higher in early trade.

** United Parcel Service ( UPS ), the world's biggest

package delivery firm, will sell its Coyote Logistics business

unit to RXO for $1.025 billion, the companies said on

Sunday.

(Compiled by Rajarshi Roy and Abhinav Parmar in Bengaluru)

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