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Deals of the day-Mergers and acquisitions

ReutersFeb 18, 2025 9:01 PM

Adds Kraft Heinz, Trucordia, Agilis Partners, Tether, HSBC; Updates H&E Equipment Services

- The following bids, mergers, acquisitions and disposals were reported by 2055 GMT on Tuesday:

** Global packaged food group Kraft Heinz KHC.O is working with investment bank Houlihan Lokey to sell its Italy-based infant food product brand Plasmon, according to two sources close to the matter. nL5N3P90W2

** Trucordia has acquired the insurance business of Boater's Insurance Agency, a San Francisco Bay Area-based firm specialising in marine insurance solutions and services. nL6N3P90HD

** Arthur J Gallagher has announced the acquisition of Waltham, Massachusetts-based Agilis Partners. nL6N3P90IK

** Cryptocurrency firm Tether is open to all future options with regards to increasing its investment in Juventus JUVE.MI, the Italian Serie A soccer club where it has built a 5% stake, and has the financial capacity to do so. nL5N3P91N5

** HSBC HSBA.L said it has agreed to sell its retail banking operations in Bahrain to Bank of Bahrain and Kuwait BBKB.BH. Financial details of the transaction were not disclosed. nL3N3P91H5

** U.S. machinery rental firm Herc Holdings HRI.N is poised to acquire smaller rival H&E Equipment Services HEES.O for $3.83 billion after outbidding leader United Rentals URI.N. nL3N3P90E3

** Auto retailer Asbury Automotive Group said it would acquire automotive dealerships owned by Herb Chambers Companies in a deal valued at $1.34 billion. nL3N3P90XO

** Diamondback Energy said it would buy certain units of EnCap Investments-backed energy producer Double Eagle in a cash-and-stock deal for about $4.08 billion, as the shale producer looks to expand its presence in the oil-rich U.S. Permian basin. nL3N3P90UH

** Restaurant Brands International said it has bought stakes in Burger King China from its local franchisee for about $158 million, giving it nearly total ownership of the business. nL3N3P90VL

** Sweden's Northvolt has agreed to sell a business that makes electric battery packs for heavy industry, one of its few profitable units, to its customer and partner Scania, the two companies said, as the battery maker's restructuring inches forward. nS8N3M005F

** Anglo American said it will sell its nickel business to a unit of Hong Kong-listed MMG Ltd <1208.HK> for up to $500 million, as a broader restructuring aimed at refocusing its operations on copper and iron ore mining is well underway. nL3N3P90JF

** U.S. fund KKR has signed an agreement with Italy's Eni to buy an additional 5% stake in Eni's biofuel business Enilive for 587.5 million euros ($614.17 million), bringing its total stake to 30%, the energy group said. nL2N3P907X

** UK's competition regulator said it has provisionally cleared British food maker Boparan Holdings' proposed deal to buy Dutch agricultural feed company ForFarmers' FFARM.AS Burston and Radstock feed mill sites. nL3N3P90LH

** Infrastructure investment company Infratil said it would acquire an additional 1.58% stake in CDC Data Centres from Commonwealth Superannuation Corporation (CSC) for about A$216 million ($137 million). nL2N3P80NA

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