Business
Mergers and acquisitions
Mergers and acquisitions
About this update from Saipem S.p.a.
The following bids, mergers, acquisitions and disposals were reported by 20:00 GMT on Wednesday:** KKR NYSE:KKR is exploring a potential sale of its 40% stake in Pembina Gas Infrastructure, with its holding in the Canadian midstream operator expected to be valued at around $7 billion, four people familiar with the matter said. ** BlackRock-owned NYSE:BLK Global Infrastructure Partners is in advanced talks to buy utility group AES NYSE:AES, people familiar with the matter said, in a deal that could exceed $38 billion including debt. ** New BP LSE:BP. Chair Albert Manifold told employees on Tuesday that the group's portfolio was "overly complex" and it needed to execute its strategy of shifting focus back to oil and gas faster, according to an internal memo seen by Reuters. ** Russian copper producer UMMC is in talks with the government to acquire a majority stake in the gold mining company UGC which was seized by the state in July, two industry sources told Reuters. ** Corteva NYSE:CTVA said it would separate its seed and pesticide businesses into separate listed companies, as the agrichemicals firm seeks to sharpen its strategic focus. ** Halozyme Therapeutics NASDAQ:HALO said it has agreed to acquire privately held Elektrofi in a deal worth up to $900 million to expand its drug delivery portfolio, sending its shares up 3% in morning trading. ** Generali Real Estate and Gruppo Percassi have jointly acquired Oriocenter, Italy's largest shopping mall, from Commerz Real for around 470 million euros ($552 million), the companies said. ** Canada's MEG Energy TSX:MEG said proxy advisory firm Glass Lewis has recommended shareholders vote for Cenovus' TSX:CVE buyout offer. ** Saipem MIL:SPM does not see regulatory risks for its planned merger with Norwegian rival Subsea7 OSL:SUBC, the CEO of the Italian energy contractor said, shrugging off concerns about potential hurdles in the Brazilian market. ** Zeiss Vision Care is acquiring a 10% stake in Ocumeda AG from German eyewear maker Fielmann Group XETR:FIE for 10 million euros ($11.74 million), the companies said. ** Ingka Group, the biggest global IKEA retailer, has acquired a Manhattan property where it plans to open a new store as part of the furniture group's expansion in the United States, it reported. ** Indonesia expects to sign a deal with Freeport-McMoRan NYSE:FCX soon regarding a plan for the firm to sel...