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(Updates Iberdrola; Adds EQT Partners, Intesa Sanpaolo , Fiat )
June 17 (Reuters) - The following bids, mergers,
acquisitions and disposals were reported by 2000 GMT on
Wednesday:
** European buyout fund Bridgepoint has agreed to buy EQT
Partners' EQTAB.ST credit business in a deal that would boost
its ability to take part in a wave of corporate restructurings
triggered by the coronavirus crisis, a source close to the
matter told Reuters. Italy's insurance authority has cleared Intesa Sanpaolo's
ISP.MI proposed bid for rival UBI Banca UBI.MI , paving the
way for market watchdog Consob to clear the prospectus for the
deal as a crucial antitrust meeting nears. Fiat Chrysler FCHA.MI and Peugeot maker PSA's PEUP.PA
proposed merger may harm competition in small vans in 14 EU
countries and Britain, EU antitrust regulators said as they
opened a four-month investigation into the deal. German airline Lufthansa LHAG.DE warned that it might
need to apply for protection from creditors if its state-backed
bailout deal failed to win sufficient support at a shareholder
vote on June 25. French furniture chain Conforama said it was close to
finding a new owner, one of several retailers in France that
have been seeking new investors as they have struggled to secure
state aid to help them cope with the coronavirus crisis.
Italy's insurance authority has cleared Intesa Sanpaolo's
ISP.MI proposed acquisition of rival UBI Banca UBI.MI ,
providing the last regulatory green light awaited by market
watchdog Consob to examine the offer's document. Westpac Banking Corp WBC.AX said it would sell its
remaining 9.5% stake in fund operator Pendal Group Ltd PDL.AX
for about A$185.4 million. Abu Dhabi's sovereign wealth fund raised its stake in
Spanish mobile phone tower operator Cellnex CLNX.MC after it
had broken a shareholders pact with the Benetton family and
Singapore's sovereign fund last month. Saudi Aramco 2222.SE has completed its purchase of a
70% stake in petrochemicals company Saudi Basic Industries
2010.SE for $69.1 billion and extended the payment period by
three years to 2028, providing a cushion against weak oil
prices. Spain's Iberdrola has made an agreed A$828 million bid
for Australian wind and solar firm Infigen Energy IFN.AX ,
topping an offer from Philippine conglomerate Ayala Corp
AC.PS . Austrian Post POST.VI has reached an agreement with
Aras Kargo to increase its stake in the Turkish parcel delivery
firm to 80%, it said, following years of dispute. Indebted South African sugar producer Tongaat Hulett
TONJ.J said it would sell a sugarcane farm in eSwatini to the
country's public pension fund for 375 million rand. Shares of Boohoo BOOH.L rose nearly 10% in early deals
as it said it was buying the online businesses of Oasis and
Warehouse, snapping up a pair of struggling brands it said would
help it build on its momentum at a time when many
brick-and-mortar retailers are collapsing. Russian conglomerate Sistema AFKS.MM and the
Russia-China Investment Fund (RCIF) have cut their stakes in
children's goods retailer Detsky Mir DSKY.MM in Moscow's first
share offering since the coronavirus pandemic struck.
Greece's Alpha Bank ACBr.AT is in talks with at least
five U.S. investment firms including Cerberus and PIMCO in a
fresh attempt to offload a portfolio of bad debt worth more than
10 billion euros, two sources told Reuters. ** German magazine and digital firm Bauer Media Group said
its Australian arm that publishes titles, including the
Australian Women's Weekly and ELLE Australia, would be acquired
by private equity firm Mercury Capital.