Amadeus to Acquire Navitaire, UK Trims Stake in Lloyds Banking

Nigel Thomas
02 Jul, 2015
New York City

Amadeus agreed to acquire Navitaire for $830 million from Accenture. JBS agreed to acquire the U.S.-based Cargill''s pork business for $1.5 billion. U.K. government trimmed its stake in Lloyds to 15.9%. Sartorius Stedim agreed to acquire Germany-based Cellca.

[R]4:00 PM Frankfurt – Amadeus agreed to acquire Navitaire for $830 million from Accenture. JBS agreed to acquire the U.S.-based Cargill''s pork business for $1.5 billion. U.K. government trimmed its stake in Lloyds to 15.9%. Sartorius Stedim agreed to acquire Germany-based Cellca.[/R]

In London trading, FTSE 100 index increased 0.4% or 27.64 to 6,636.24 and in Frankfurt the DAX index fell 0.7% or 75.27 to 11,105.23.

In Paris, CAC 40 index slipped 0.7% or 35.04 to 4,848.84.

Amadeus IT Holding SA slid 0.3% to €36.15 after the Spain-based travel information services agreed to acquire Navitaire, a wholly owned subsidiary of Accenture with main offices in Minneapolis, Minnesota and Salt Lake City, Utah for $830 million.

JBS SA rose 0.3% to 15.95 real after the Brazil-based meat packer agreed to acquire the U.S.-based Cargill Inc''s pork business for $1.45 billion, free of debt.

Low & Bonar Plc slipped 1.1% to 68 pence after the U.K.-based construction materials maker said group revenues in the year ending in April dropped 5.2% to £186 million from £196.3 million in a year ago period.

Net profit in the year surged 44.4% from a year ago to £5.2 million compared to £3.6 million and diluted earnings per share increased to 1.47 pence from 1.05 pence.

Lloyds Banking Group Plc fell 0.4% to 86.50 pence after the financial services provider said the U.K. government reduced its stake in the company to 15.9% from 16.9%.

After the sale, the U.K. government’s remaining stake is worth £9.9 billion at the current share prices and finance ministry said it plans to sell its entire stake to private investors.

Sartorius Stedim Biotech SA decreased 1.8% to €246.30 after the France-based laboratory and process technologies and equipment provider agreed to acquire Germany-based Cellca GmbH for an undisclosed amount.