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Deals of the day-Mergers and acquisitions
Jul 3, 2025 3:12 AM

July 3 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 0930 GMT on

Thursday:

** Life and pensions company Chesnara ( CSNRF ) has agreed to buy

HSBC's ( HSBC ) UK life insurance business for 260 million

pounds ($355 million) in cash, Chesnara ( CSNRF ) said.

** Luxembourg-based investment vehicle Reinet Investments

said it was in advanced talks with Athora Holding to

sell its nearly 50% stake in UK insurer Pension Insurance

Corporation.

** Activist investor Starboard Value has built an over 9% stake

in online travel firm Tripadvisor ( TRIP ), a person familiar

with the matter said on Wednesday.

** Santander's plan to buy TSB for 2.65 billion

pounds ($3.61 billion) and boost its position in the UK came

together only a few weeks ago, after the Spanish bank had been

considering a possible exit from Britain, three sources close to

the process said.

** The Ardonagh Group has continued the build-out of its

operations in Asia with the acquisition of a majority stake in

Apex Insurance (Holdings) Limited in Hong Kong.

** Global agribusiness Bunge Global ( BG ) said it officially

closed a long-delayed deal to merge with Glencore ( GLCNF )-backed

Viterra on Wednesday, two years after announcing the

$34 billion mega-deal.

** A U.S. court officer overseeing the auction for PDV Holdings,

the parent of Venezuela-owned U.S. refiner Citgo Petroleum, has

recommended a $7.38 billion bid from Dalinar Energy, a unit of

Gold Reserve ( GDRZF ), according to a court filing and a company

statement.

** Property developer China Vanke's biggest

shareholder, state-owned Shenzhen Metro, will provide a loan of

up to 6.2 billion yuan ($865.78 million) and has agreed to

extend existing loans totalling 890 million yuan, it said on

Thursday.

(Compiled by Rajarshi Roy and Siddhi Mahatole in Bengaluru)

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