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Deals of the day-Mergers and acquisitions

Fri, 09th Mar 2018 10:55

March 9 (Reuters) - The following bids, mergers,acquisitions and disposals were reported by 1100 GMT on Friday:

** China Resources Beer (Holdings) Co Ltd is intalks to acquire Heineken NV's China business in adeal that could be worth more than $1 billion, as the country'slargest brewer seeks new growth from premium brands, five peopleclose to the discussions said.

** Japan's Idemitsu Kosan Co said its subsidiaryacquired 100 percent of the outstanding shares of an independentAustralian petroleum products distributor Trinity PetroleumServices Pty Ltd.

** State-controlled China Huarong Asset Management Cohas bought a 36.2 percent stake in the unit of CEFCChina Energy through which CEFC is acquiring a $9.1 billionstake in Russia's Rosneft, a filing by the CEFC unitshowed.

** China's Sinopec Corp got a major boost in itspursuit of Chevron's South Africa and Botswana assetsafter South Africa's Competition Tribunal approved, withconditions, the $900 million transaction.

** Toshiba Corp expects the sale of its $18 billionmemory chip business to be completed by June at the latest, ifnot by an agreed deadline of the end of March, as it awaitsantitrust regulatory approval from China.

** Japanese auto parts supplier Denso Corp isbuying an additional 4.5 percent stake in chipmaker RenesasElectronics in a deal worth $800 million based onmarket prices, as car makers accelerate the adoption ofself-driving and other technologies.

** China's HNA Group is selling a land parcel inHong Kong to local developer Wheelock and Co Ltd for$811.1 million, the latest in a string of global asset disposalsto ease its liquidity crunch.

** ** Royal Dutch Shell is selling out of theageing Draugen field in Norway and is also offering small stakesin a number of other fields, according to a document seen byReuters.

** The head of Boeing Co said on Thursday the U.S.planemaker can absorb transactions on the scale of a proposedtie-up with Brazil's Embraer without putting at risk internalinvestments in its business or returning cash to shareholders.

** Brazil's state-controlled oil company Petróleo BrasileiroSA said on Thursday to start the binding phase in theprocess to sell 100 percent of subsidiary Petrobras Oil & GasB.V., according to a securities filing.(Compiled by Mrinalini Krothapalli in Bengaluru)

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