Deals of the day—mergers and acquisitions
KO•Shell agreed to buy a 30% interest in Equinor’s Bay du Nord project, and DCC Energy agreed to sell Nexora for $725 million. Tata Motors raised its Iveco offer to €14.40 per share, while Unipol received approval to exceed 20% of BPER Banca and acquire de facto control.
1. Agreed and approved deals
Shell’s Canada unit agreed to acquire a 30% non-operated interest in the Bay du Nord project offshore Newfoundland and Labrador from Equinor. DCC Energy agreed to sell its technology division, Nexora, to One Equity Partners for an enterprise value of $725 million, on a cash- and debt-free basis. Unipol said the European Central Bank and Bank of Italy authorized it to exceed 20% of BPER Banca and acquire de facto control.
2. Offers and possible deals
Tata Motors raised its offer for Iveco Group to €14.40 per share, citing delays in the authorization process in several jurisdictions. Scotchstone Capital is weighing a possible offer for Permanent TSB, while PAG is in exclusive talks to acquire a majority stake in China Evergrande’s property services unit. Vesper is among the bidders for Snam’s biomethane business.
3. Other reported activity
BASF could raise its offer for Evonik if talks take place, people close to the company said. Coca-Cola is reportedly seeking to unwind its $5 billion acquisition of Costa Coffee after a sales process failed earlier in the year.
