Aveva to Acquires Schneider Unit, Rolls-Royce Wins $2 B Contracts

Nigel Thomas
20 Jul, 2015
New York City

Aveva agreed to buy industrial software unit of France-based Schneider. Alstom sales climbed 8% but new orders tumbled. Rolls-Royce won two contracts worth about $2 billion. Julius Baer net profit tumbled 78% but revenues soared 12%.

[R]4:00 PM Frankfurt – Aveva agreed to buy industrial software unit of France-based Schneider. Alstom sales climbed 8% but new orders tumbled. Rolls-Royce won two contracts worth about $2 billion. Julius Baer net profit tumbled 78% but revenues soared 12%.[/R]

In London trading, FTSE 100 index rose 0.2% or 17.60 to 6,792.69 and in Frankfurt the DAX index gained 1% or 115.40 to 11,788.58.

In Paris, CAC 40 index increased 0.8% or 39.68 to 5,164.07.

Alstom SA gained 0.7% to €26.98 after the France-based transport and energy infrastructure developer reported sales in the first-quarter ending in June climbed 8% to €1.60 billion form €1.49 billion in a year ago period.

Alstom said order received in the quarter tumbled 59% to €1.96 billion compared to €4.80 billion in the same period a year ago.

Aveva Group Plc surged 28.2% to 2,271 pence after the U.K.-based engineering software and services provider agreed to acquire industrial software division of France-based Schneider Electric SE in a reverse takeover.

The transaction is designed to meet the reverse takeover listing rules of the UK Listing Authority.

AVEVA will receive £550 million in debt-free cash from Schneider for consideration of new shares and Schneider holds 53.5% stake in the new company that will design software for shipping, industrial plants and nuclear power stations.

Julius Baer Gruppe AG slipped 2.3% to 52.85 Swiss francs after the Switzerland-based private banking group said interest income in the first-half ending in June soared 11.9% to 453.9 million francs form 405.6 million francs in a year ago period.

Net profit in the period tumbled 78.1% from a year ago to 39 million francs compared to 178.3 million and diluted earnings per share declined to 0.18 francs from 0.82 francs.

As of June, the bank said assets under management dropped 7 billion francs or 2% to 284 billion francs from a year ago period.

Separately, the bank said it has agreed to acquire 40% stake in the independent financial advisory firm in Mexico NSC Asesores, S.A. de C.V., Asesor en Inversiones Independiente for an undisclosed amount.

Rolls-Royce Holding Plc rose 0.4% to 782.86 pence after the U.K.-based aircraft engines developer announced that it won two contracts from International AirFinance Corporation to provide Trent 700 engines worth $930 million for 20 Airbus A330 Regional aircraft.

The company also confirmed contracts to provide long-term engine maintenance services to Saudi Arabia-based airline Saudia worth about $1.3 billion.