GM warns workers in Brazil on losses, tough turnaround plan

June 25 (Reuters) – The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Tuesday:

** Private equity firm Onex Corp said its C$3.5 billion buyout offer for WestJet Airlines Ltd received approval from Canada’s Minister of Transport, clearing the first of several regulatory hurdles.

** Australian copper miner Sandfire Resources NL sweetened its takeover offer for smaller rival MOD Resources Ltd , valuing it at A$167 million ($116.3 million) and enough to satisfy MOD’s board.

** South Korea said it would sell its entire stake in Woori Financial Group Inc within three years, in a move to recoup taxpayers’ money spent to bail out the company two decades ago.

** French fashion group SMCP has agreed to buy men’s luxury clothing company De Fursac, in a deal which it said would boost its earnings and fit in well with its other existing brands such as Sandro.

** German energy group has offered to sell parts of its Hungarian electricity business to address European Union antitrust concerns over its bid for rival Innogy’s network and retail assets, its chief executive said.

** German lighting group Osram said it had sold its luminaires unit Siteco to the investment arm of strategic consultancy Stern Stewart & Co for an undisclosed sum.

** Bellevue Group is weighing the sale of its Bank am Bellevue wealth management unit and has held talks with potential buyers, it said, adding that efforts to reposition activities lag internal expectations.

** Spain’s Allfunds Group is buying Credit Suisse’s business-to-business investment fund platform InvestLab for an undisclosed sum as the investment services industry consolidates to reap the benefits of scale. (Compiled by Debroop Roy in Bengaluru)



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