Europe Earnings: BC Partners, Deutsche Annington, Flybe, Rosneft

Nigel Thomas
21 Jun, 2013
New York City

BC Partners agreed to buy Springer Science & Business Media for

[R]3:20 PM Frankfurt – BC Partners agreed to buy Springer Science & Business Media for €3.3 billion. Deutsche Annington plans to raise €1.1 billion through initial public offering. Flybe revenue fell and loss for the year widened to £41.8 million. NK Rosneft signed oil supply contract worth £174 billion with China.[/R]

In London trading, FTSE 100 index edged up 0.2% or 9.83 to 6,169 and in Frankfurt the DAX index slid 0.4% or 28.38 to 7,900.

In Paris, CAC 40 index inched up 0.04% or 1.45 to 3,700.

BC Partners Limited, the UK based private equity firm agreed to buy Springer Science & Business Media, the academic publishing company for €3.3 billion.

Deutsche Annington Immobilien Gemany based real estate company plans to raise nearly €1.1 billion through the initial public offering. The company will receive as much as €400 million from the share sale to pay the debt.

Flybe Group Plc jumped 2.1% to 42.12 pence after the UK based airliner said preliminary results of group revenue for the year ending in March fell £614.3 million compared to £615.3 million a year earlier. Loss for the year widened to £41.8 million from £6.4 million and Loss per share was 55.6 pence compared to 8.5 pence a year ago.

Total revenue grew to £781.5 million from £678.8 million and loss before tax widened to £40.7 million from £6.2 million a year ago.

NK Rosneft’ OAO gained 0.6% to 221.81 ruble after the Russian state-controlled oil company signed contracts worth £174 billion or $270 billion with China National Petroleum Corporation to supply 300,000 barrels oil a day for 25 years starting from second half of 2015, Russian President Vladimir Putin said today.

Rosneft will double its daily oil supply to China after the contract.