Europe Movers: Cairn, Diageo, Sanofi, Suedzucker

Arthi Gupta
25 Sep, 2012
New York City

Diageo confirmed that it is in talks to acquire an interest in United Spirits. Sanofi planned to slash approximately 900 jobs in France by the year 2015. Smurfit Kappa Group agreed to acquire Orange County Container Group for $340 million.

[R]3:00 PM Frankfurt – Diageo confirmed that it is in talks to acquire an interest in United Spirits. Sanofi planned to slash approximately 900 jobs in France by the year 2015. Smurfit Kappa Group agreed to acquire Orange County Container Group for $340 million.[/R]

Cairn Energy Plc slid 1.3% to 281.20 pence and the oil and gas explorer agreed to sell about an 8% stake in Cairn India for approximately $910 million.

Diageo plc rose 1.9% to 1,757 pence after the alcoholic beverages maker confirmed that it is in talks to acquire an interest in United Spirits.

Heineken N.V. rose 0.5% to €46.09 after the beer maker completed the purchase of Kindest Place Groups’ 8.6% stake of 22.21 million shares in Asia Pacific Breweries Ltd. at a price of S$53.00 per APB share.

Sanofi SA dipped 0.1% to €68.72 and the diversified healthcare leader planned to slash approximately 900 jobs in France by the year 2015.

Suedzucker Mannheim Ochsenfurt AG soared 2.8% to €28.39 after the sugar producer reported first-half revenues increased 17% to €3.92 billion from last year. Group operating profit increased 62% to €562 million from €347 million.

The company will publish its full interim report for the first-half on October 11.

Smurfit Kappa Group Plc increased 1.2% to €8.22 after the packaging products maker agreed to acquire Orange County Container Group for $340 million in cash or €260 million.

Standard Chartered Plc, the financial services provider declined 3.3% to 1,431 pence after Singapore controlled Temasek Holdings Pte. Ltd. is contemplating selling its £6 billion stake in the company, according to local media reports.