Deals of the day-Mergers and acquisitions

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2017-12-26 14:36:25

(Adds Mitsubishi UFJ Financial Group, Bank Danamon, Hyundai Heavy Industries, Reliance Communications, Otkritie, B&N Bank, Promsvyazbank, Mallinckrodt, Sucampo Pharmaceuticals, Uber, Fair.com)

Dec 26 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1430 GMT on Tuesday:

** Japan’s Mitsubishi UFJ Financial Group Inc said it will buy a 73.8 pct stake in Indonesia’s Bank Danamon from Singapore’s sovereign wealth fund Temasek Holdings.

** South Korea’s Hyundai Heavy Industries Group plans to list its refining arm Hyundai Oilbank in an IPO in 2018 and raise about $1.2 billion via a share issue by shipbuilder Hyundai Heavy Industries, in a move to bolster its finances.

** India’s Reliance Communications Ltd outlined a new plan under which it aims to reduce its debt by about 250 billion rupees ($3.90 billion) through the sale of some of its spectrum, tower and real estate assets.

** Russia’s Finance Ministry said it supports the merger of Otkritie, B&N Bank and Promsvyazbank, three troubled lenders bailed out by the central bank this year, according to a RIA news agency report.

** Drugmaker Mallinckrodt Plc said it would buy Sucampo Pharmaceuticals Inc for about $840 million, excluding debt, to gain access to its constipation drug, Amitiza.

** Ride-hailing firm Uber Technologies Inc has agreed to sell its U.S. auto-leasing business Xchange Leasing to startup car marketplace Fair.com, The Wall Street Journal reported, citing people familiar with the matter.

** Japanese auto parts maker Denso Corp is considering a 50 billion yen ($440 million) investment in organic light-emitting diode (OLED) panel maker JOLED, Kyodo news reported, citing sources close to the matter.

** Yandex.Taxi, a subsidiary of Russian internet group Yandex, said on Monday it is buying Russian food delivery service Foodfox for an undisclosed amount.

** Sumitomo Mitsui Financial Group (SMFG) is keen to raise its stake to a majority in Indonesian lender BTPN if authorities permit, the Japanese bank’s CEO said, as it aims to roll out full-scale banking operations in emerging Asia markets.

** U.S.-Israeli businessman Naty Saidoff has offered to buy holding group Eurocom, which controls Bezeq Israel Telecom , a source said on Monday, confirming media reports, though any deal would need approval of banks owed money by Eurocom.

** South Korea’s Hyundai Heavy Industries Group plans to list its refining arm Hyundai Oilbank in an IPO in 2018 and raise about $1.2 billion via a share issue by shipbuilder Hyundai Heavy Industries, in a move to bolster its finances.

** Discount Investment Corp said on Monday it lowered its stake in Shufersal, Israel’s biggest supermarket chain, to 50.12 percent from 53.3 percent, selling shares for 169.5 million shekels ($49 million). (Compiled by Taenaz Shakir in Bengaluru)

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