Deals of the day-Mergers and acquisitions


(Adds Oyo, Sumitomo Mitsui Trust Asset Management, Gazprombank, Sul America SA; Updates Entertainment One, Thyssenkrupp, Frontline)

Aug 23 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:

** A-property group, controlled by Russian businessman Albert Avdolyan, has requested approval from Russia’s antimonopoly service to buy a 49% stake in the Elga coal project from Gazprombank, the group said.

** Brazilian insurer Sul America SA has sold its auto unit and other parts of its business to Germany’s Allianz SE ALVG.DE for 3 billion reais ($734 million), it said in a filing.

** Japan’s biggest asset manager, Sumitomo Mitsui Trust Asset Management (SMTAM) which is a part of Sumitomo Mitsui Trust Holdings, plans to expand into the United States for the first time as part of efforts to win more money from overseas clients, its chief executive told Reuters.

** SoftBank Group Corp-backed Indian hospitality startup Oyo will rebrand Hooters Casino Hotel in Las Vegas in a deal that a source with knowledge of the matter said was worth $135 million.

** Statkraft has agreed to buy German electric vehicle (EV) charging company E-WALD GmbH, to strengthen its position in the German and European EV charging market, the Norwegian power producer said.

** Sumitomo Mitsui Financial Group (SMFG) said it would acquire British asset manager TT International, in a move to generate a fee-based revenue and attract Japanese investors hamstrung by low domestic returns.

** Frontline has agreed to buy 10 Suezmax oil tankers from Trafigura in a cash and share deal worth up to $675 million which will make the Geneva-based trading firm the group’s second biggest shareholder.

** Shares in Peppa Pig and PJ Masks-owner Entertainment One rose 33% to a record high on Friday, surpassing the $4 billion price tag agreed with U.S. toy maker Hasbro, in a sign that investors see a chance of a counter offer.

** Thyssenkrupp is in talks with Kloeckner & Co over future cooperation in materials trading, but is not working on a near-term takeover of the metals firm, three people familiar with the matter said.

** Luxury TV and speaker maker Bang & Olufsen would listen if approached by a buyer, chairman Ole Andersen told newspaper Borsen, following three earnings warnings this year.

** U.S. electric vehicle maker Tesla Inc is in advanced talks with South Korea’s LG Chem Ltd to source batteries for vehicles to be made in its Shanghai plant, a person familiar with the matter said.

** Amazon.com Inc is set to snag a 3.58% minority stake in India’s Future Retail, which operates more than 1,500 stores in India and owns several supermarket brands, including budget department and grocery store chain, Big Bazaar.

** Japanese travel agency H.I.S. Co has given up its bid for a controlling stake in Unizo Holdings, Nikkei Business reported, after a SoftBank-owned firm made a $1.3 billion ‘white knight’ offer for the hotel operator.

** VMware Inc said on Thursday it bought two providers of cloud security and cloud developer services in separate deals valued at about $5 billion, as it expands offerings for corporate clients. (Compiled by C Nivedita in Bengaluru)



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