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Deals of the day-Mergers and acquisitions
Jul 31, 2024 3:05 AM

July 31 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on

Wednesday:

** Egyptian microfinance lending and payments company

MNT-Halan's recent purchase of Turkey's biggest nonbank

microleasing company will help develop its factoring business in

Egypt while expanding consumer credit in Turkey, its chief

executive said.

** Kuwaiti lenders Boubyan Bank and Gulf Bank

are weighing a merger to create a single Islamic bank

with $53 billion in assets as part of a plan to fuel growth and

expansion.

** French bank Societe Generale said it had agreed

to buy a 75% stake in Reed Management, an alternative asset

management company dealing in the energy sector.

** French group Veolia said it had agreed to sell

its sulfuric acid regeneration business in North America to

private equity firm American Industrial Partners for an

enterprise value (EV) of $620 million.

** Australian dental care firm Pacific Smiles ( PCSGF ) said

that private equity firm Genesis Capital's near $200 million

buyout offer was superior to one from National Dental Care

(NDC), which had one more day to top that bid.

** Stellantis ( STLA ) has no intention of selling its

luxury vehicle business Maserati or aggregating the unit with

other Italian luxury groups, the Jeep maker said.

** Pipeline operator TC Energy ( TRP ) said it will sell a

minority stake in its Canadian natural gas pipeline system to

Indigenous communities for C$1 billion ($722.1 million) as part

of a plan to reduce debt and fund investments.

** Private equity firm Blackstone is in early-stage

talks to acquire Retail Opportunity Investments Corp ( ROIC )

, which owns U.S. shopping centers and has a market

value of close to $2 billion, according to people familiar with

the matter.

** Former Warner Music chairman Edgar Bronfman Jr. is still

in talks with bankers about a potential bid for Paramount

Global's ( PARAA ) parent, National Amusements, Axios reported,

citing sources.

** Vista Outdoor ( VSTO ), which is in the process of

selling its ammunition unit, said it was open to selling its

outdoor sporting gear business and expecting an increased bid

for the whole company from MNC Capital.

** Jazz Aviation owner Chorus Aviation ( CHRRF ) said it

would sell its regional aircraft leasing segment for about $1.9

billion to investment fund manager HPS Investment Partners LLC,

in order to reduce its debt.

** Pennsylvania Governor Josh Shapiro said that he cannot

support Nippon Steel's ( NISTF ) bid to buy U.S. Steel in

its current form because the United Steelworkers union is

unhappy with the merger.

(Compiled by Rajarshi Roy and Harshita Mary Varghese in

Bengaluru)

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