Merger and Acquisition Activity Around the Globe: Unilever PLC, Kalina, RHB, OSK, Andhra Paper Mills, International Paper
Friday, October 14, 2021 10:02 AM

Amidst positive U.S sales data for the month of September and stronger then expected earnings from Google Inc., a host of merger and acquisition activities are taking place around the globe.


Unilever Buy’s 82 Percent Stake in Kalina


Unilever PLC, one of the world’s largest consumer goods company, is all set to become Russia’s largest skin care company by agreeing to buy an 82 percent stake in Russian cosmetic company Kalina for around euro 390 million in cash. The deal is pending regulatory approval. Unilever did not disclose who is selling the 82 percent stake in Ekaterinburg, Russia-based Kalina, listed on the RTS and MICEX stock exchanges. However, it said it will make a tender offer for the remainder of the shares once the deal is approved.


Malaysia’s RHB and OSK Banks Get Central Bank Nod for Merger Talks


Central Bank of Malaysia on Friday gave approval to Malaysia based RHB Capital Bhd, Malaysia’s fifth largest lender with a market cap of $5 billion, and OSK Holdings Bhk, a small financial group built by veteran broker Ong Leong Huat, to start talks on possible merger. Bank Negara Malaysia said it has no objections on the merger talks for three months from the date of its letter on Oct 13. The merger plan comes as Malaysian authorities encourage lenders to consolidate in order to make larger banks that can expand their regional market space. Local reports suggest that Maybank, Malaysia’s largest bank, had earlier made a rival bid to acquire RHB.


Majority stake in Andhra Pradesh Paper Mills acquired by International Paper


International Paper announced today it has completed acquisition of a 75 percent stake in Andhra Pradesh Paper Mills, one of the leading integrated paper manufacturer in India with a total capacity of 250,000 tons. Fifty-three point five percent of the company’s shares were acquired from L.N. Bangur, related family members and associates for approximately $226 million and an additional $57 million for entering into a non-compete covalent. In addition, International Paper acquired an additional 21.5 percent stake,in a public tender offer completed on October 8 2011, for approximately $105 million in cash. Paul Brown will become president of International Paper India and will become executive chairman of the company’s board of directors.