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Deals of the day-Mergers and acquisitions

Published 2018/05/09, 22:05
Updated 2018/05/09, 22:10
Deals of the day-Mergers and acquisitions
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(Adds Cade, I Squared, Gorenje , Saudi Basic, Sonatrach, ATON, Cradle Arc; Updates Walmart (NYSE:WMT), Enbridge )

May 9 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:

** Walmart Inc WMT.N said it will pay $16 billion for a roughly 77 percent stake in Indian e-commerce firm Flipkart, an effort to compete with rival Amazon.com Inc AMZN.O in an important growth market. South African Internet and entertainment firm Naspers NPNJn.J sold its entire 11.18 percent stake in Indian e-commerce firm Flipkart to Walmart Inc WMT.N for $2.2 billion, it said. Vodafone VOD.L has agreed to pay $21.8 billion to buy Liberty Global's LBTYA.O assets in Germany and eastern Europe to take on rivals with a broader range of superfast cable TV, broadband and mobile services. Saudi Basic Industries Corp (SABIC) 2010.SE , the world's No.4 petrochemical company, wants to buy about half of the $4.6-billion Indian petchem project backed by Oil and Natural Gas Corp (ONGC), two sources familiar with the matter said. Algeria's state energy firm Sonatrach plans to buy ExxonMobil's XOM.N 175,000 barrel-per-day Augusta refinery in Sicily, Italy, the companies said, as the North African oil producer seeks to cut its hefty fuel bills. Enbridge Inc ENB.TO , ENB.N has received higher-than-expected bids for the Canadian midstream assets it is selling as part of its debt-reduction efforts, with initial bids valuing the portfolio as high as C$4.5 billion ($3.5 billion), people familiar with the situation told Reuters. HR services provider Recruit Holdings Co 6098.T has agreed to buy Glassdoor Inc for $1.2 billion, in a deal that will give the Japanese firm access to the U.S. job-website operator's vast database of company reviews and salary data. Agribusiness company Scales Corp Ltd SCL.NZ said it would sell its cold storage business for NZ$151.4 million($105.4 million) to Australian company Emergent Cold. French oil company Total TOTF.PA has agreed to sell its retail business in Haiti to Bandari Corporation Ltd, a consortium formed by local and regional players. African gold miner Randgold RRS.L has ended a joint venture agreement in Mali with junior explorer Cradle Arc CRA.L , Cradle Arc said, adding it would seek a new partner. Australian digital classifieds company Mitula Group MUA.AX said Japanese real estate portal Lifull Co 2120.T agreed to buy the company for about A$188.3 million ($140 million) and merge it with Lifull's online classifieds unit. BNP Paribas BNPP.PA announced a secondary offering of shares in First Hawaiian Inc FHB.O , resulting in the French bank relinquishing its majority ownership of the Hawaiian bank. British investor I Squared Capital said it has agreed to buy TIP Trailer Services, the trailer leasing company formerly owned by General Electric (NYSE:GE), from China's HNA Group. Chinese household appliances maker Hisense Electric 600060.SS has offered the best bid of 12 euros ($14.22) per share for Gorenje GORE.LJ , the Slovenian appliances producer said after announcing it had received three offers. Xerox (NYSE:XRX) Corp's board XRX.N said it intended to resume merger discussions with Fujifilm Corp 4901.T , seeking a superior deal to terms announced at the end of January that have spurred a complex proxy fight over the company. German investor ATON and takeover target Murray & Roberts (M&R) MURJ.J are each seeking to file separate merger notifications to South Africa's Competition Commission - a procedure typically used in hostile takeover situations. Brazil's antitrust regulator Cade approved the sale of a Vale SA fertilizer unit to Yara International ASA, sanctioning a deal that will allow the Norwegian giant to produce nitrogen-based fertilizers in Brazil.

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