Market Updates
BBVA Sell 29.7% Stake of Citic, Oerlikon in Deal with Evatec
Nigel Thomas
23 Dec, 2014
New York City
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BBVA agreed to sell 29.7% stake in a Hong Kong-based Citic Intl for about
[R]4:00 PM Frankfurt – BBVA agreed to sell 29.7% stake in a Hong Kong-based Citic Intl for about €845 million. Nutreco declined after the U.S.-based Cargill rejected acquisition plan. Oerlikon agreed to sell its Advanced Technologies unit to Evatec. Thorntons tumbled on lower outlook.[/R]
In London trading, FTSE 100 index rose 0.3% or 23.19 to 6,599.93 and in Frankfurt the DAX index gained 0.5% or 44.46 to 9,910.22.
In Paris, CAC 40 index jumped 1.1% or 47.36 to 4,301.79.
Banco Bilbao Vizcaya Argentaria SA rose 0.2% to €7.92 after the Spain-based bank agreed to sell 29.7% stake in a Hong Kong-based financial service provider Citic International Financial Holdings Ltd. to its parent company China Citic Bank Corporation for about €845 million or $1.03 billion.
Nutreco N.V declined 5.3% to €44.06 after the U.S.-based private agro-food and poultry products trader Cargill Inc said it is not interested in acquiring Netherlands-based animal-feed supplier.
Oc Oerlikon Corporation Pfaeffikon AG climbed 3.3% to 12.45 Swiss francs after the Switzerland-based textile equipment maker agreed to sell its Advanced Technologies unit to Evatec AG for undisclosed financial terms.
The transaction is expected to close in first-quarter of 2015.
Thorntons Plc tumbled 22.6% to 91.51 pence after the U.K.-based confectionery and chocolate maker forecasted earnings for the year to fall on weak second-quarter sales due to warehousing problems.
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