Deals of the day-Mergers and acquisitions

  • Reuters
  • Stock Market News
Deals of the day-Mergers and acquisitions
Credit: © Reuters.

(Adds Vale, Choppies Enterprises , Instructure, Deutsche Telekom, Norwegian Air, Canadian National Railway, PAI Partners, IKEA and Petrobras)

Dec 4 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 2100 GMT on Wednesday:

** Brazilian state-run oil firm Petrobras is considering putting additional stakes in significant offshore oilfields up for sale, executives said, as the company continues to aggressively de-leverage. IKEA, the world's biggest furniture group, said it had bought a minority stake in U.S. tech startup Optoro whose software helps retailers manage returns in a more efficient way. Private equity firm PAI Partners and Lego owner Kirkbi said they would buy German insulation foam maker Armacell from Blackstone (NYSE: BX ) Group Inc BX.N for an undisclosed sum. Canadian National Railway Co CNR.TO , CNI.N said it has entered a long-term deal to ship steelmaking coal from some of Teck Resources Ltd's TECKb.TO operations in British Columbia. Loss-making budget airline Norwegian Air NWC.OL has sold subsidiary Norwegian Air Argentina (NAA) for an undisclosed sum, with JetSMART Airlines taking control with immediate effect. Deutsche Telekom DTEGn.DE has put all deals to buy 5G network equipment on hold, it said, as it awaits the resolution of a debate in Germany over whether to bar Chinese vendor Huawei HWT.UL on security grounds. Education software firm Instructure Inc INST.N said on Wednesday it would be bought by private equity investment firm Thoma Bravo in an all-cash deal for about $2 billion, giving into pressure from one of its shareholders pushing for a sale. Botswana budget retailer Choppies Enterprises CHOPP.BT , CHPJ.J will sell its loss-making South African operations for only 1 rand to escape existing liabilities and inject 100 million rand ($6.8 million) into the business. Brazil's Vale SA VALE3.SA is evaluating ways to exit its New Caledonia nickel operations and will make a decision in the first half of next year, an executive said. The Turkish Treasury is taking over a 58.5% stake in the state-owned Vakifbank from the state's General Directorate of Foundations, according to a presidential decision published by the country's Official Gazette. Grand Parade Investments (GPI) Ltd GPLJ.J , which holds the Burger King franchise in South Africa, said it was in talks to sell a stake in the business, without giving a reason. Hyundai Heavy Industries Holdings Co Ltd 267250.KS said it is working with Singaporean regulators to alleviate concerns of its $2 billion merger with rival shipbuilder Daewoo crimping competition in the Southeast Asian maritime hub. The Chief Executive Officer of Engie's Brazilian subsidiary said the French company group wants to acquire the 10% stake still owned by state-controlled oil company Petrobras SA PETR4.SA in the natural gas pipeline company TAG. The European Union's top antitrust policymaker, Margrethe Vestager, is open to the idea of pan-European mergers in the telecoms market, Orange's ORAN.PA boss Stéphane Richard said.

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