Deutsche Bank to Close Russia Unit, Worldpay IPO to Raises

Nigel Thomas
18 Sep, 2015
New York City

Deutsche Bank plans to close its corporate banking and security operations in Russia. India Capital Growth Fund profit in the first-half tumbled. Worldpay plans to launch initial public offering to raise

[R]4:00 PM Frankfurt – Deutsche Bank plans to close its corporate banking and security operations in Russia. India Capital Growth Fund profit in the first-half tumbled. Worldpay plans to launch initial public offering to raise £890 million.[/R]

In London trading, FTSE 100 index slipped 76.86 or 1.2% to 6,110.13 and in Frankfurt the DAX index slumped 303.61 or 2.9% to 9,930.63.

In Paris, CAC 40 index declined 131.63 or 2.8% to 4,525.78.

For the week, FTSE 100 index slid 0.1% and the DAX index dropped 2% and the CAC 40 index slipped 0.5%.

Deutsche Bank AG declined 4.2% to €25.25 after the Germany-based bank said it will close its corporate banking and security operations in Russia.

The new co-chief executive, John Cryan, is looking to reshape operations and said its other operations in Russia will remain as it is.

India Capital Growth Fund Ltd slid 0.6% to 59.50 pence after the closed-ended investment company, said profit in the first-half tumbled to £2.66 million compared to £10.23 million and earnings per share declined 3.53 pence from 13.64 pence in a year ago period.

Origin Enterprises Plc gained 1.5% to €7.51 after the Ireland-based food and agribusiness group completed the acquisition of Romania-based Redoxim SRL for a total cash consideration of €35 million.

The company also agreed to acquire Comfert SRL for an enterprise value of €19.4 million.

Worldpay Group Plc, the U.K.-based payment processor plans to launch an initial public offering to raise £890 million or about $1.4 billion and list on London Stock Exchange in next month.

The company plans to sell about 25% of outstanding shares. The private equity firms Advent International and Bain Capital are largest two shareholders in the company.

Worldpay reported net revenue in the first-half ending in June of £465.7 million and £863.4 million in 2014.