Deals of the day-Mergers and acquisitions
British American Tobacco sold over half its stake in ITC Hotels for 38 billion rupees. Netflix is in talks to buy Warner Bros Discovery’s studios and streaming assets for $28 per share. Paribu acquired a majority stake in CoinMENA, valuing it at up to $240 million.
Dec 5 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Friday: British American Tobacco (BATS.L) has sold more than half its stake in ITC Hotels (ITCT.NS) for about 38 billion rupees ($424.70 million), the tobacco giant said. Netflix (NFLX.O) is in exclusive talks to buy Warner Bros Discovery’s (WBD.O) film and television studios along with its streaming assets after offering $28 per share, a source with direct knowledge of the matter said. Turkish digital asset platform Paribu said it acquired a majority stake in the Bahrain- and Dubai-based cryptocurrency platform CoinMENA in a transaction valuing the company at up to $240 million.
