Deals of the day-Mergers and acquisitions
Adds: Comcast, MFE-MediaForEurope, Pakistan International Airlines, Tokyo Gas, Run:ai
Oct 31 (Reuters) -The following bids, mergers, acquisitions and disposals were reported by 1938 GMTon Thursday:
** U.S. chipmaker Nvidia NVDA.O will have to seek EU antitrust clearance for its proposed acquisition of AI startup Run:ai because it threatens competition in the markets where the companies operate, the European Commission said. nL8N3M71MP
** Norway's Hydro NHY.OL said it is now solely financing the Hydrovolt battery recycler which it set up with joint venture partner Sweden's Northvolt. nL8N3M72BK
** Tokyo Gas 9531.T is in talks with Woodside Energy WDS.AX over taking a stake in a multi-billion-dollar Louisiana liquefied natural gas (LNG) export project, according to two people familiar with the discussions. nL1N3M61JJ
** The final bidding process for the privatisation of Pakistan International Airlines attracted just one bid of 10 billion Pakistani rupees ($36 million) for a 60% stake in the national flag carrier, the Privatisation Ministry said. nL1N3M70EO
** MFE-MediaForEurope MFEB.MI, the TV group controlled by Italy's Berlusconi family, expects any potential tie-up with German rival ProSiebenSat.1 to add more than 200 million euros ($217 million) a year to operating profit, a source with knowledge of the matter said. nL8N3LG1GU
** Comcast CMCSA.O said it was considering spinning off its cable networks that include CNBC and MSNBC into a separate company, as the media industry grapples with a decline in traditional TV viewership due to cord-cutting by consumers shifting to streaming. nL4N3M71CP
** Siemens SIEGn.DE is to buy U.S. engineering software firm Altair Engineering ALTR.O for $10.6 billion, strengthening its position in the growing market for industrial software. nL4N3M62NR
** Gold miner Solidcore POLY=AIXN, formerly known as Polymetal, will buy a 55% interest in Kazakhstan's Syrymbet tin deposit from Lancaster Group subsidiary Berkut Mining for $82.5 million, it said. nL1N3M70MD
** Japan's Electric Power Development (J-Power) 9513.T said it has decided to sell its 50% stake in a U.S. gas-fired power company as part of a reshuffle of its assets portfolio to improve capital efficiency. nL1N3M70HK
** British supermarket Sainsbury's SBRY.L said it has sold its Argos Financial Services cards portfolio to NewDay Group for an expected 720 million pounds ($934 million), in line with its strategy to focus on its core retail business. nL4N3M70Z2
** Mobile group Vodafone VOD.L and Romania-based operator Digi DIGI.BX said they had signed a memorandum of understanding with Hellenic Telecommunications Organization OTEr.AT to buy its subsidiary Telekom Romania Mobile (TKRM). nL8N3M70YC
** Private equity firm Blackstone BX.N is bidding C$7 billion ($5.03 billion) for a minority stake in telecom and media company Rogers Communications' RCIb.TO cellphone infrastructure business, the Globe and Mail reported. nL4N3M700B
** Australia's Mineral Resources (MinRes) MIN.AX said it will sell the entirety of two exploration permits in the Perth basin and form joint ventures with Hancock over remaining onshore exploration lands around the area for up to A$1.13 billion ($743.09 million). nL4N3M62SM
(Compiled by Rajarshi Roy, Prakhar Srivastava and Jaspreet Singh in Bengaluru)
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