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Deals of the day-Mergers and acquisitions

ReutersFeb 4, 2025 8:38 PM

Adds CPP Investments, Thales Alenia Space, General Motors, De La Rue, BP, Bridge Specialty Group, Dassault Systemes

- The following bids, mergers, acquisitions and disposals were reported by 2030 GMT on Tuesday:

** Canadian pension fund CPP Investments is weighing strategic options, including a sale or initial public offering, for Encino Acquisition Partners that could value the U.S. oil and natural gas producer at as much as $7 billion, including debt, people familiar with the matter said. nL1N3NB15C

** Thales Alenia Space has clinched an order from the UAE's Mohammed Bin Rashid Space Centre to develop an airlock module for the Lunar Gateway space station, the joint venture between France's Thales TCFP.PA and Italy's Leonardo LDOF.MI said. nL1N3OV12N

** General Motors GM.N said it had completed the full acquisition of its Cruise business to focus on developing the autonomous technology for personal vehicles not robotaxis. nL1N3OV0YZ

** UK banknote printer De La Rue DLAR.L said it had commenced a formal sale process after it received preliminary takeover approaches from parties other than a consortium of British financier Edi Truell's companies. nL4N3OV1NF

** Oil major BP BP.L is expected to spend up to $25 billion over the lifetime of a project to redevelop four Kirkuk oil and gas fields, a senior Iraqi oil official told Reuters, as Baghdad seeks to win back foreign investment. nL1N3OV0ZP

** Bridge Specialty Group, the wholesale broking division of Brown & Brown, has entered into an agreement to acquire Nationwide Property & Casualty Insurance Agency based in Columbus, Ohio, in a deal expected to close in March 2025. The financial terms of the transaction were not disclosed. nL6N3OV0IP

** Dassault Systemes DAST.PA announced a long-term partnership with Volkswagen VOWG_p.DE to accelerate the German automaker's transition towards vehicles that rely heavily on software to control and optimise key functions. Dassault did not disclose the original value of the deal with Volkswagen. nL8N3OV0D3

** Southeast Asian ride-hailing and food delivery company Grab GRAB.O is in advanced talks to merge with its smaller Indonesian rival GoTo GOTO.JK as the firms seek to stem years of losses, two sources familiar with the matter told Reuters. nL6N3OV0C6

** U.S. private equity firm KKR KKR.N has sweetened its offer for Japan's Fuji Soft 9749.T by 4%, the latest salvo in its protracted and messy bidding war with Bain Capital for the $4 billion IT firm. nL4N3OV09Q

** Suncorp Group has completed the previously announced sale of its New Zealand life insurance business after receiving regulatory approval. nL6N3OV0DC

** Discovery PDI.AX were set for their best session in nearly six months after the gold explorer said that China's Zijin Mining 601899.SS will invest A$24.1 million ($15.00 million), while Lundin family will invest A$45.1 million in it, to acquire a 3.5% and a 6.5% stake, respectively. nL4N3OU1TB

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