Europe Movers: Deutsche Bank, Lanxess, Peugeot, Telenet

Arthi Gupta
20 Sep, 2012
New York City

Kleinwort Benson agreed to acquire BHF-BANK for

[R]1:00 PM Frankfurt – Kleinwort Benson agreed to acquire BHF-BANK for €384 million. Liberty Global intended to launch a €35 a share cash offer on all of the shares and other securities of Telenet.[/R]

Air Berlin Plc rose 1.3% to €1.59 and the airline is shrinking its board of directors to 10 from the current 15 from the end of this month.

Deutsche Bank AB fell 1.1% to €32.54 and the German lender reached an agreement with Kleinwort Benson Group, the wholly owned subsidiary of financial services group RHJ International, on the sale of BHF-BANK, one of Germany''s leading private banks.

Under the proposed transaction, Kleinwort Benson will acquire all of BHF-BANK for an agreed consideration of €384 million.

BHP Billiton plc declined 2.8% to 1,944 pence and the miner priced a euro bond issue of €1,250 million with a coupon of 2.25% maturing in 2020 and €750 million 3.250% bonds due 2027. The company has priced a Sterling bond issue comprising £750 million 3.250% bonds due 2024 and £1,000 million 4.300% bonds due 2042.

The proceeds will be used for general corporate purposes and in part, redemption of the group’s commercial paper program.

GDF Suez S.A. declined 1.7% to €19.33 after the natural gas and electricity supplier confirmed the payment of an interim dividend of 83 cents per share for 2012.

Koninklijke DSM N.V. dipped 0.04% to €404.9 and the science company is in exclusive discussions with Cargill to buy its cultures and enzymes business.

Lanxess AG dropped 2.1% to €65.93 after the German specialty chemicals company plans to achieve its previously established goal of €1.4 billion EBITDA before extraordinary charges in 2014, a year ahead of schedule.

Peugeot SA rose 2.4% to €7.03 and the carmaker entered into exclusive negotiations with JSC Russian Railways to form a strategic partnership to drive faster growth for GEFCO. The company said it would sell a 75% interest in GEFCO for €800 million, after the payment by GEFCO to PSA Peugeot Citroën of €100 million in a special dividend.

Sanofi SA slid 0.3% to €67.82 and the French drugmaker and the Global Alliance for TB Drug Development agreed to accelerate the discovery and development of novel compounds against tuberculosis.

Telenet Group Holding NV, the communication services provider soared 12.5% to €34.99 after Liberty Global, Inc. said it is intending to launch a voluntary and conditional cash offer on all of the shares and other securities of Telenet giving access to voting rights that it does not already own or that are not held by Telenet.

The intended offer is based on a price of €35 a Telenet share.