Deals of the day-Mergers and acquisitions

Published 03/08/2020, 14:16
Updated 03/08/2020, 21:06

(Updates Lordstown, Nordex , Alphabet)
Aug 3 (Reuters) - The following bids, mergers, acquisitions
and disposals were reported by 2000 GMT on Monday:

** Alphabet Inc's GOOGL.O Google is picking up a 6.6%
stake in ADT Inc ADT.N for $450 million, betting on the home
security company's strong customer base and an army of
technicians to drive sales of its Nest devices. Lordstown Motors has agreed to go public through a merger
with blank-check company DiamondPeak Holdings DPHCU.O in a
deal that values the electric pickup truck start-up at $1.6
billion, the companies said. Mexican cement producer Cemex SAB de CV CMXCPO.MX said
that it closed the sale of assets in the United Kingdom to
Breedon Group BREE.L for $230 million, including some $30
million of debt. Nigeria's FBN Holdings Plc FBNH.LG said it has sold its
life insurance company and invested the proceeds of 25 billion
naira ($66 million) as equity into its lending business to boost
the bank's capital ratio. Shoprite Holdings SHPJ.J could become the latest South
African retailer to retreat from other African markets after it
said that it is considering reducing or selling all of its stake
in its Nigerian subsidiary. The Japanese owner of 7-Eleven convenience stores has
agreed to buy Marathon Petroleum Corp's MPC.N Speedway gas
stations for $21 billion, brushing aside coronavirus concerns to
return to the table five months after initially baulking at the
deal. Microsoft Corp MSFT.O said it will push ahead with
talks to acquire the U.S. operations of Chinese-owned
short-video app TikTok, a potential blockbuster deal that could
re-shape the social media industry and further inflame crumbling
U.S.-China relations. Metro Bank has agreed to buy peer-to-peer lender
RateSetter for an initial payment of 2.5 million pounds ($3.27
million), it said. Poland plans to merge its three utilities PGE PGE.WA ,
Enea ENAE.WA and Tauron TPE.WA into two groups as part of a
planned reform of its coal and energy industry, its deputy prime
minister was quoted saying by Dziennik Gazeta Prawna (DGP)
daily. SoftBank's Z Holdings Corp 4689.T said its merger with
messaging app operator Line Corp 3938.T will take place around
March 2021 after the deal was pushed back from October due to
regulatory delays caused by the coronavirus outbreak.
Debt-laden British Mall operator Hammerson HMSO.L is
drawing up plans for a possible rights issue and is in advanced
talks on the sale of its stake in discount shopping outlets
joint venture to help it through the coronavirus crisis, it
said. Indofood CBP (ICBP) has obtained approval from
shareholders at an extraordinary general meeting in Jakarta for
its acquisition of Pinehill Company Ltd, ICBP said in a
statement to the Indonesia Stock Exchange. Germany-based holiday company TUI TUIT.L said it has
agreed for a sale and leaseback deal for five new Boeing 737
MAX-8 aircraft with BOC Aviation, raising $226 million to help
boost its finances. Shares in wind turbine maker Nordex NDXG.DE jumped
nearly a quarter after the group agreed to sell most of its
project development pipeline to RWE RWEG.DE for 402.5 million
euros ($474 million). The Lumibird Group, the European leader for laser
technologies, is announcing its acquisition of the Swedish
company EssMed AB, specialized in distributing high-quality
medical devices for ophthalmology, on July 31, 2020.
Tullow Oil TLW.L ceded its Walton Morant offshore
oilfield licence for a nominal fee to London-listed United Oil &
Gas UOGU.L , United said, adding that Tullow had invested $30
million in the licence.

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