Deals of the day-Mergers and acquisitions

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

Aug 8 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

Israel's largest mobile phone operator Cellcom CEL.TA , CEL.N said on Wednesday it signed a memorandum of understanding to invest in the Israel Electric Corp's (IEC) fibre optic venture.

Italy plans to sell its holding in Monte dei Paschi di Siena BMPS.MI , the country's economy minister said on Wednesday, in remarks that appear to show a split within the country's ruling coalition.

German aluminium producer Trimet Aluminium said it has completed the sale of its automobile parts business to China's Bohai Automotive Systems 600960.SS . German chemicals group Lanxess LXSG.DE will sell its remaining 50 percent stake in synthetic-rubber joint venture Arlanxeo to its partner Saudi Aramco.

Japan's Orix Corp 8591.T has struck a $2.2 billion deal to buy a 30 percent stake in aircraft lessor Avolon Holdings, which is controlled by cash-strapped Chinese conglomerate HNA Group Co Ltd, marking a big consolidation in the global leasing industry. South African construction company Murray & Roberts MURJ.J said that it had withdrawn plans for a potential merger with rival Aveng AEGJ.J , saying there was "limited potential" for the deal to go through.

Canadian fund Brookfield BRE.TO is negotiating the acquisition of energy asset company Bow Power for between 500 million and 700 million euros ($581 million-$813 million), said Spanish newspaper El Economista, citing unnamed financial sources.

Poland's second-largest lender Bank Pekao PEO.WA and smaller rival Alior Bank ALRR.WA have ended talks on their tie-up as they could not agree on the terms, the banks said.

Hong Kong's residential broadband provider HKBN Ltd 1310.HK would buy fixed-line operator WTT HK in a deal that valued the business at HK$10.5 billion ($1.34 billion) including debt, the companies said.

British engineering firm Smiths Group Plc SMIN.L is close to abandoning talks with U.S.-based ICU Medical Inc ICUI.O about a 7 billion pound ($9 billion) merger of their healthcare divisions, Sky News reported.

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