Statoil Sells Azerbaijan Field Stake, Steris Acquires Synergy for

Nigel Thomas
13 Oct, 2014
New York City

Essentra third-quarter revenue climbed 8%. Quindell third-quarter EBITDA climbed 141% to

[R]4:00 PM Frankfurt – Essentra third-quarter revenue climbed 8%. Quindell third-quarter EBITDA climbed 141% to £83 million. Statoil agreed to divest remaining stake in Shah Deniz in Azerbaijan for $2.2 billion. Synergy surged after acquired by the U.S. rival Steris for £1.2 billion.[/R]

In London trading, FTSE 100 index rose 0.2% or 15.79 to 6,355.76 and in Frankfurt the DAX index edged up 0.02% or 1.64 to 8,790.45.

In Paris, CAC 40 index slipped 0.2% or 7.43 to 4,066.28.

Acal Plc slipped 1.5% to 227.10 pence after the U.K.-based electronic and photonic products distributor reported total sales in the first-half jumped 20% from a year ago period.

The company estimated strong growth in underlying earning after group orders climbed 19% and sales increasing in all territories and businesses.

Essentra Plc declined 5.1% to 704.50 pence after the U.K.-based plastic, foam and packaging products supplier announced revenue in the third-quarter ending in September climbed 8% from a year ago period.

The company added revenues from component and protection solutions segment soared 17%.

Revenues from filter products segment jumped 11% from a same quarter last year.

Quindell Plc plunged 5.7% to 145.50 pence after the U.K.-based consulting service provider reported revenue in the third-quarter ending in September surged 115% to £198 million and adjusted EBITDA climbed 141% to £83 million from year ago period.

Statoil gained 0.9% to 160 kronor after the Norway-based energy company agreed to divest its remaining 15.5% stake in the Shah Deniz field in Azerbaijan to Malaysia-based Petroliam Nasional Berhad or Petronas for $2.25 billion.

The company still holds 8.56% stake in the Azeri-Chirag-Gunashli field in Azerbaijan and 20% stake in the Trans Adriatic Pipeline.

The company said the sale is expected to be complete during early 2015.

Synergy Healthcare Plc surged 30.4% to 1,825 pence after the U.K.-based medical devices sterile service provider agreed for a £1.2 billion or $1.9 billion takeover by the U.S. rival Steris Corporation in a cash and stock option this represents 39% premium to trading price last Friday.

The transaction is expected to close by March 2015.