Deals of the day-Mergers and acquisitions
Adds: BYD, SCG Packaging, Adani Ports and Special Economic Zone Updates: Ganz-Mavag
Aug 30 (Reuters) -The following bids, mergers, acquisitions and disposals were reported by 1330 GMT on Friday:
** China's BYD 1211.HK, 02594.SZ will buy Hedin Electric Mobility, the German car distributor's parent company said, as BYD moves to establish itself as a major electric vehicle maker in Europe.
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** Thailand-based SCG Packaging SCGP.BK has acquired an additional stake worth $652.4 million in Indonesian packaging paper maker Fajar Surya, increasing its ownership in the company to 99.7% in a move to expand its operations in southeast Asia.
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** Adani Ports and Special Economic Zone APSE.NS said it will buy a majority stake in an offshore support vessel operator for $185 million, expanding its fleet and diversifying beyond port operations.
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** Hungarian consortium Ganz-Mavag said it had withdrawn its tender offer for all shares in Spanish train manufacturer Talgo TLGO.MC on Friday after the Madrid government blocked the takeover bid.
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** Singapore Airlines (SIA) SIAL.SI said it has received approval from the Indian government for foreign direct investment, as part of a merger in which Vistara, its 49%-owned joint venture with Tata, will be absorbed into Air India.
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** Unieuro's UNIR.MI board of directors failed to agree on the priceof a takeover bid from Fnac Darty FNAC.PA and Ruby Equity Investment, the Italian consumer electronics retailer said.
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** PPG Industries PPG.N will sell its silica products business to Polish chemical company QEMETICA for $310 million, the paints and coatings maker said.
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(Compiled by Rajarshi Roy and Harshita Mary Varghese in Bengaluru)
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