Deals of the day-Mergers and acquisitions

Reuters12-06
Deals of the day-Mergers and acquisitions

Dec 6 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Friday:

** Hong Kong-listed JD Logistics 2618.HK will acquire the 36.43% stake it does not already own in Kuayue-Express Group for not more than 6.48 billion yuan ($892 million), the company said.

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** Britain's Guardian Media Group $(GMG.AU)$ and its owner the Scott Trust have agreed to sell The Observer, the world's oldest Sunday newspaper, to startup Tortoise Media, the two groups said on.

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** British insurer Aviva AV.L has agreed to buy smaller rival Direct Line DLGD.L in a sweetened 3.61 billion pound ($4.60 billion) cash-and-stock deal that will create the UK's largest home and motor insurer.

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** British sportswear and fashion group Frasers FRAS.L launched a bid to takeover Norwegian sporting goods retailer XXL ASA XXL.OL, saying it did not agree with the Oslo-listed company's plan to issue more shares.

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** Singapore's Aelios, owned by billionaire couple Gordon and Celine Tang, on Thursday launched a mandatory general offer to buy shares in Suntec Real Estate Investment Trust SUNT.SI that valued the REIT at S$3.39 billion ($2.53 billion).

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(Compiled by Rajarshi Roy and Aamir Sohail in Bengaluru)

((Aamir.sohail@thomsonreuters.com))

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