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Deals of the day-Mergers and acquisitions

ReutersJan 13, 2025 11:20 AM

- The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Monday:

** Superannuation fund AustralianSuper said it has taken a 50% stake in a portfolio of European warehouses owned by Oxford Properties Group, valuing it at A$1.4 billion ($859.18 million).

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** Ardonagh-owned Envest Group will to acquire a "significant" stake in Ando Insurance Group Limited (Ando), an independent underwriting agency in New Zealand.

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** British drugmaker GSK GSK.L said that it would pay up to $1.15 billion to buy Boston-based biopharmaceutical firm IDRx, which is developing a treatment for a rare type of tumour.

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** Asia-focused private equity firm PAG said that it has acquired a majority stake in Indian pharmaceutical packaging company Pravesha Industries, according to a statement.

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** Norsk Hydro NHY.OL became the sole owner of battery recycler Hydrovolt on Monday after the Norwegian aluminium maker agreed to buy the remaining shares from ailing Swedish battery maker Northvolt for 78 million Norwegian crowns ($6.79 million).

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(Compiled by Rajarshi Roy and Sneha S K in Bengaluru)

((Rajarshi.Roy@thomsonreuters.com;))

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