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Deals of the day-Mergers and acquisitions
Jul 22, 2024 3:30 AM

July 22 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on Monday:

** British shopping mall owner Hammerson ( HMSNF ) said it is

selling its 42% stake in luxury shopping centre operator Value

Retail to LVMH-backed private equity firm L Catterton for an

enterprise value of 1.5 billion pounds ($1.94 billion).

** Goodyear Tire & Rubber ( GT ) announced it will sell its

off-the-road tire business to Japan's Yokohama Rubber ( YORUF )

for $905 million in cash, as part of its strategic

transformation plan.

** Britain's Vodafone ( VOD ) said it sold a further 10%

stake in Vantage Towers for 1.3 billion euros ($1.4 billion),

bringing its ownership in a group which controls European mobile

phone masts down to its intended level with infrastructure

investors.

** Australia's Woodside Energy ( WDS ) said it had agreed

to buy U.S. liquefied natural gas developer Tellurian,

including its U.S. Gulf Coast Driftwood LNG export project, for

$1.2 billion including debt.

** U.S.-based private equity firm Stonepeak said it would

buy New Zealand's Arvida Group for NZ$1.24 billion

($745.74 million) excluding debt, sending the aged care

provider's shares up nearly 60% to the highest in more than two

years.

** Porsche is considering taking a minority stake in Varta

as a way to safeguard a potential investment in the battery

maker's large-format lithium-ion battery business disclosed

earlier this month, the Frankfurter Allgemeine Zeitung newspaper

reported.

(Compiled by Rajarshi Roy anad Priyanka.G in Bengaluru)

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