Sept 23 (Reuters) - The following bids, mergers,

acquisitions and disposals were reported by 1000 GMT on Tuesday:

** German automotive and industrial supplier Norma

will sell its lucrative water management business to U.S. rival

Advanced Drainage Systems ( WMS ) in a deal valued at $1

billion, the companies said on Tuesday.

** Some investors in PepsiCo ( PEP ) support suggestions by

activist shareholder Elliott that the global food and beverage

company cut costs and ditch sleepy brands like Quaker, but sound

more cautious about the hedge fund's boldest idea - to hive off

the soda maker's bottling network.

** Italy's government has given a conditional green light to

the merger between energy contractor Saipem and its

Norwegian rival Subsea7, financial newspaper MF

reported on Tuesday.

** Azerbaijan's state oil company SOCAR agreed on Tuesday to

acquire Italiana Petroli, in a deal that will hand the group

control of one of Italy's largest petrol station networks, a

Reuters witness reported from the signing ceremony.

** Dutch brewer Heineken will buy the beverage and

retail businesses of Costa Rica's Florida Ice and Farm Company

for $3.2 billion in cash, it said late on Monday,

boosting its presence across Central America.

** European lottery giant Allwyn said on Monday it will acquire

a majority stake in U.S. fantasy sports operator PrizePicks in a

deal that values the Atlanta-based company at $1.6 billion.

** President Donald Trump this week will declare that a deal

to divest TikTok's U.S. operations from its Chinese owner

ByteDance will meet requirements set out in a 2024 law, a White

House official said on Monday, adding that investors will

include Oracle and private equity firm Silver Lake.

(Compiled by Rajarshi Roy in Bengaluru)