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Deals of the day-Mergers and acquisitions

ReutersJan 31, 2025 11:08 PM

Adds OMV, Brava Energia, Indra, Howden Group

- The following bids, mergers, acquisitions and disposals were reported by 2110 GMT on Friday:

*Austria's OMV OMVV.VI and Abu Dhabi National Oil Company (ADNOC) said on Friday they are considering a joint venture to acquire Canada's Nova Chemicals if its owner, the Abu Dhabi sovereign wealth fund Mubadala, agrees. nL3N3OR1HL

*Brazilian oil and gas company Fluxus, owned by conglomerate J&F, has decided not to move forward with a bid to buy onshore assets owned by Brava Energia BRAV3.SA, it said in a statement on Friday. nL2N3OR0VC

*Spain's defence company Indra IDR.MC agreed to buy 89.7% of satellite operator Hispasat from Redeia REDE.MC for 725 million euros ($752.26 million), the company said on Friday in a filing to the stock market regulator. nL5N3OR2B5

Howden Group is in discussions with Risk Strategies parent Accession Risk Management over a potential deal that would see the David Howden-led UK broking group make its long-expected entry into US retail broking, The Insurer understands. nL6N3OR0EB

Polish media group Cyfrowy Polsat CPS.WA has sold its 9.99% stake in software firm Asseco Poland ACPP.WA to Yukon Niebieski Kapital for more than 705 million zlotys ($173 million), Polsat said. nL5N3OR12J

Italy's Give Back Beauty, which makes perfumes for luxury brands such as Chopard and ZEGNA, said it had agreed to buy domestic rival AB Parfums to grow its distribution operations and add licensing deals. nL5N3OQ22R

Nippon Steel 5401.T will launch a $456 million tender offer to make Sanyo Special Steel 5481.T a wholly owned unit, Japan's biggest steelmaker said. nL3N3OR0FR

Allstate has agreed to a deal to sell its group health business to Nationwide for $1.25 billion in cash adjusted for the closing balance sheet. nL6N3OQ0PT

California-based Inszone Insurance Services has acquired Texas Classic Insurance Agency, which serves clients across the Dallas and Fort Worth area from its locations in Granbury and Liberty Hill. nL6N3OQ0KY

World Insurance Associates has announced that it acquired Scottsdale, Arizona-based Stern Insurance Group (SIG) on Dec. 1, 2024. nL6N3OQ0L6

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