Deals of the day-Mergers and acquisitions

July 24 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Bahrain’s Bank Alkhair has sold its majority stake in Turkish investment firm Alkhair Capital a decade after it entered the market, as the Islamic lender streamlines its business lines and exits some markets.

** Steel giant ArcelorMittal said it had accepted new conditions set by Italian authorities for the purchase of troubled steelmaker Ilva, in a move that could facilitate its acquisition of Europe’s largest steel plant.

** French bank Credit Agricole is set to buy 5 percent of Credito Valtellinese (Creval) and sign a life insurance partnership with the mid-sized Italian bank, the MF daily reported.

** Finnish fibre materials company Ahlstrom-Munksjo has agreed to buy U.S. specialty paper maker Expera from KPS Capital Partners for $615 million to boost its growth in North America, the companies said.

** Russian tycoon Alisher Usmanov is exploring a sale of his 30 percent stake in English football club Arsenal, the Financial Times reported, citing sources familiar with the billionaire’s thinking.

** The co-founder of British fashion retailer Superdry , has sold a 6.7 percent stake in the company, reducing his holding to 18.5 percent.

** Italian hearing aid maker Amplifon SpA said it agreed to buy privately owned peer GAES Group for an equity value of 528 million euros ($616.6 million), in a bid to enter the Latin American markets and become the No.1 player in Spain.

** M&G Real Estate, a unit of insurance giant Prudential Plc , said it had acquired an office building in Seoul for $1.04 billion. (Compiled by Sanjana Shivdas in Bengaluru)



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