Deals of the day-Mergers and acquisitions

<html xmlns=""><head><title>Deals of the day-Mergers and acquisitions</title></head><body>

Feb 3 (Reuters) -The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Friday:

** Japan's Idemitsu Kosan Co 5019.T has agreed to sell its 85% stake in the Ensham coal mine in Australia to a Thungela Resources TGAJ.J subsidiary, Sungela Pty, for an upfront payment of A$340 million ($240 million), it said. nL1N34J0F0

** Zur Rose ROSEG.S unexpectedly agreed to sell its Swiss business to Migros subsidiary Medbase in order to focus on expanding in Germany, the Swiss online drug retailer said , sending its shares soaring on their best day ever. nL8N34J0X4

** The board of Icelandic lender Kvika banki KVIKA.IC has written to its larger rival Islandsbanki ISB.IC proposing a merger. Islandsbanki said it will respond in the coming days. nL1N34J0E2

** Russia's government commission on foreign investment has approved the sale of telecoms company VimpelCom on condition that at least 90% of bonds in Dutch parent VEON are bought back from Russian investors, state-owned news agency RIA reported. nL1N34J0D5

** Malaysia's Petronas [RIC:RIC:PETR.UL] is finalising its first acquisition of an Australian renewable energy business, set to pick up German firm Wirsol's solar farms and a large development pipeline, two people involved in the transaction said. nL1N34J09C

** Australia's Nitro Software NTO.AX said an A$526.9 million ($371.78 million) takeover offer by KKR Inc KKR.N - backed Alludo did not get the requisite 75% vote from its shareholders, after which Alludo made an off-market offer. nL4N34J0TS

** Utility provider FirstEnergy Corp FE.N said on Thursday it would sell a 30% ownership interest in its unit FirstEnergy Transmission LLC (FET) to Brookfield Super-Core Infrastructure Partners in an all-cash deal of $3.5 billion. nL4N34I4KL

** Telecom Italia (TIM) TLIT.MI has received a non-binding bid for a controlling stake in its fixed-line network from U.S. fund KKR KKR.N, and Italy's biggest phone group said its board would meet again later this month to assess the proposal. nL8N34I1NU

(Compiled by Rajarshi Roy in Bengaluru)


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.