Just Eat Founders Sold 8.7% Stake, Sage Group Profit Surges

Nigel Thomas
03 Dec, 2014
New York City

Deutsche Bank and retail property group ECE agreed to acquire PalaisQuartier for about

[R]4:00 PM Frankfurt – Deutsche Bank and retail property group ECE agreed to acquire PalaisQuartier for about €800 million. Just Eat raised around £139 million. Sage Group profit surged 295% to £188 million. Telenor and TeliaSonera agreed to merge Danish mobile businesses.[/R]

In London trading, FTSE 100 index fell 0.2% or 14.44 to 6,727.66 and in Frankfurt the DAX index gained 0.4% or 38.14 to 9,972.22.

In Paris, CAC 40 index rose 0.2% or 8.22 to 4,396.52.

Deutsche Bank AG gained 1.6% to €26.67 after the Germany-based financial service provider and retail property group ECE agreed to acquire PalaisQuartier shopping center and hotel complex in the center of Frankfurt for about €800 million.

Just Eat Plc plunged 8.8% to 309.30 pence after the U.K.-based online takeaway food platform operator founders sold their 8.7% stake or 44 million shares to raise around £139 million.

Nexity SA declined 3.2% to €30 after the France-based retail bank BPCE sold its stake of 4% in the real estate developer.

The Sage Group Plc climbed 5.2% to 424.60 pence after the U.K.-based enterprise software developer reported revenue in the year ending in September declined 5% to £1.31 billion from £1.38 billion a year ago period.

Net profit in the year surged 295.1% from a year ago to £187.7 million compared to £47.5 million and diluted earnings per share jumped to 17.04 pence from 3.96 pence.

Telenor ASA jumped 2.1% to 153.20 kronor after the Norway-based telecom company and Sweden-based TeliaSonera AB agreed to merge Denmark-based mobile businesses to new joint venture on an equal valuation. The company expects to generate revenue of about 9.1 billion kronor or $1.5 billion.

The transaction expected to close in next year.