Deals of the day-Mergers and acquisitions
Jan 29 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Wednesday:
** Volvo Cars VOLCARb.ST has signed an agreement to buy struggling Swedish battery maker Northvolt's stake in their joint battery venture NOVO Energy, the Sweden-based automaker said, without disclosing the price.
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** Carmaker Stellantis STLAM.MI, brands of which include Fiat, Peugeot and Vauxhall, said it had agreed to buy full control of its joint venture with Belgium's Punch Powertrain, strengthening its position in hybrid vehicle technology.
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** Detroit-based American Axle and Manufacturing (AAM) AXL.N will buy GKN Automotive owner Dowlais DWL.L in a cash-and-stock deal, valuing the London-listed firm at about 1.16 billion pounds ($1.44 billion), the companies said.
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** Miner Anglo American AAL.L said it had completed the sale of its 33.3% stake in Jellinbah Group to Zashvin Pty Ltd for total cash proceeds reaching A$1.6 billion (nearly $1 billion).
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** Zimmer Biomet ZBH.N said on Tuesday it would acquire medical device company Paragon 28 FNA.N for about $1.1 billion to expand its portfolio of orthopedic surgical devices.
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** World Insurance Associates has acquired the business of Brooklyn, New York-based HML Brokerage, a deal the company completed on 1 September 2024 but has only just announced.
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** Utah-based Trucordia has acquired Cada Insurance Services, a provider of auto, home, commercial, general liability, and workers' compensation solutions with Louisiana offices in Baton Rouge, Chalmette, Gretna, and Kenner.
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** Italy's gas grid operator Snam SRG.MI will sell its minority stake indirectly held in ADNOC Gas Pipelines to Abu Dhabi-based investment fund Lunate, Snam said.
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** Spirits giant Diageo DGE.L has agreed to sell its 80.4% shareholding in Guinness Ghana to Castel Group for $81 million, it said, continuing to refine its operating model in Africa.
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