Deals of the day-Mergers and acquisitions – Investing.com India

Deals of the day-Mergers and acquisitions – Investing.com India

March 30 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1115 GMT on Tuesday** Chinese smartphone maker Xiaomi Corp has formally entered the automotive industry with a new smart electric vehicle (EV) business, the company announced in a filing. The firm will initially invest 10 billion yuan ($1.52 billion) in the wholly-owned subsidiary. German air shuttle startup Lilium said it would float on the U.S. stock market via a reverse merger with Qell Acquisition Corp , a blank-cheque acquisition company, in a deal valuing the combined business at $3.3 billion. Indosat Ooredoo has agreed to sell more than 4,200 telecommunication towers worth $750 million to a local unit of Singapore's Edge Point, according to a company statement. South African budget retailer Mr Price Group said it had received all approvals to acquire retailer Power Fashion in a deal likely to top $105 million. Qatar Petroleum (QP), the world's top liquefied (LNG) supplier, will in 2022 take full ownership of Qatargas 1, which produces LNG and related products, it said in a statement. Australia's top power producer and energy retailer AGL Energy unveiled a plan