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Deals of the day-Mergers and acquisitions

05/12/2021 05:58
Deals of the day-Mergers and acquisitions

- The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:

** Danone DANO.PA, under pressure from investment funds over its returns, will sell a 9.8% stake in China Mengniu Dairy Company 2319.HK, the food group said.nL1N2MZ0MI

** Private equity firm Clayton, Dubilier & Rice (CD&R) has agreed to buy London-listed UDG Healthcare UDG.L for 2.6 billion pounds ($3.7 billion), the pharmaceuticals services company said.nL1N2MZ0E1

** The Polish state will increase its stake in PKN Orlen PKN.WA to 50% as part of its plan for the refiner to take over smaller peer Grupa Lotos LTSP.WA and gas company PGNiG PGN.WA, the state assets minister said.nW8N2M700R

** Amsterdam-based technology investor Prosus NV PRX.AS announced plans to acquire up to 45.4% of shares in its parent Naspers NPNJn.J of South Africa by issuing new Prosus shares in a deal aimed at moving part of the value of their massive stake in Tencent 0700.HK to Europe from Africa.nL1N2MZ0CF

** Japan's oil and metals giant Eneos Holdings Inc 5020.T will exit the coal mining business and sell some stakes in upstream oil assets, along with real estate and securities by March 2023 to improve cash flow, its president said.nT9N2MU002

(Compiled by Niket Nishant in Bengaluru)

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