June 9 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Tuesday:
** The founding family of Britain’s Iceland Foods and its chief executive have taken full ownership of the frozen food specialist, which has seen a two decade-high market share during the coronavirus crisis.
** Japanese luxury toilet maker Lixil Group Corp said it was selling its stake in household goods retailer Lixil Viva as it continues to streamline its operations following a high-profile boardroom drama last year.
** South African retailer Steinhoff warned of a “material” hit to revenue in 2020 and said its planned disposal of home furnishings chain Conforama Iberia had lapsed due to the coronavirus crisis.
** Italy’s antitrust authority may require Intesa Sanpaolo to make bigger concessions than planned to gain approval for its takeover of smaller rival UBI Banca, an Italian newspaper reported.
** German freight technology firm Sennder said it was merging with French peer Everoad in a deal that keeps it on track for its target of 1 billion euros ($1.1 billion) in revenue by 2024.
** U.S. investment fund Blackrock Inc and other investors have built stakes in Spanish telecom operator MasMovil in the days after the filing of a formal bid on June 1, according to the Spanish stock market regulator.
** South Korea’s Hyundai Development Co said it wants new terms for its acquisition of Asiana Airlines after the carrier’s already hefty debt burden increased by some $3.8 billion.
** Private equity investors are seeking Chinese companies to take private in the hope they can snap up bargains amid the coronavirus-related sell-off, but the banks that help find such deals are proving less keen to finance them.
** Administrators in charge of South Africa’s Edcon have proposed a sales process that may lead to job redundancies in “significant numbers”, after the retailer filed for a form of bankruptcy protection in April.
** Oil and gas producer Occidental Petroleum is reviewing options for its Middle Eastern assets in a bid to ease its debt load, Bloomberg News reported on Monday, citing people familiar with the matter. (Compiled by C Nivedita)
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