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Deals of the day Mergers and acquisitions

Mark White by Mark White
January 24, 2022
in Cargo
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Jan 24 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1200 GMT on Monday:

** Malaysian air cargo carrier Raya Airways has denied being in talks with budget airline AirAsia Group Bhd (AIRA.KL) for an acquisition, it said in a statement.

** A consortium led by buyout firm KKR (KKR.N) has agreed a takeover of Accell Group (ACCG.AS) that values the maker of bicycle brands such as Sparta, Batavus and Raleigh at 1.56 billion euros ($1.77 billion), they said. read more

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** Kering (PRTP.PA) is shedding its watches division, with plans to sell high-end labels Girard-Perregaux and Ulysse Nardin to current management, a move that will allow the French luxury goods group to focus on activities in which it has scale. read more

** Advertising group M&C Saatchi (SAA.L) has rejected a fresh takeover approach from the acquisition vehicle of its top shareholder Vin Murria. read more

** Saudi Arabian fertilizers maker SABIC Agri-Nutrients (2020.SE) said it had signed a binding agreement to acquire a 49% stake in ETG Inputs Holdco LTD. read more

** South Africa’s Sibanye Stillwater Ltd said it had terminated a $1 billion deal to buy the Santa Rita nickel mine and Serrote copper-gold mine in Brazil, following a “geotechnical event” at Santa Rita. read more

** French investment company Wendel has agreed to buy ACAMS, a company which provides training and certifications for anti-money laundering and financial crime prevention, for around $500 million, the companies said. read more

** Singapore’s Temasek Holdings has agreed to buy Element Materials Technology (BPTB.L) for about $7 billion, as it sees an opportunity to boost growth at the testing and inspection services provider, two sources familiar with the matter said.

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** Fortescue Metals Group (FMG.AX) said it will buy an engineering and battery company, founded by Williams Formula 1 team, for 164 million pounds ($222.2 million) in the Australian miner’s push to decarbonise its fleet and equipment. read more

** U.S. department store Kohl’s Corp (KSS.N) may soon receive a second takeover offer as private equity firm Sycamore Partners prepares to make a bid only days after a consortium backed by activist investment firm Starboard Value proposed buying the company, three sources familiar with the matter said. read more

** Germany’s flagship carrier Lufthansa (LHAG.DE) is in talks to buy a 40% stake in state-owned Alitalia’s successor ITA Airways, two people familiar with the negotiations said on Sunday, following a newspaper report that a deal could be unveiled next week.

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Compiled by Rajarshi Roy and Sohini Podder in Bengaluru

Our Standards: The Thomson Reuters Trust Principles.

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Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

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