21st Century Fox to Acquire Remaining Stake in Sky, Just Eat in Two Deals

Sarla Buch
15 Dec, 2016
New York City

Just Eat, the online food ordering platform continued its global expansion with a deal in Canada and in Europe. Lufthansa intends to acquire remaining 55% stake in SN Airholding. Sky agreed to be acquired by 21st Century Fox for

[R]4:00 PM Frankfurt – Just Eat, the online food ordering platform continued its global expansion with a deal in Canada and in Europe. Lufthansa intends to acquire remaining 55% stake in SN Airholding. Sky agreed to be acquired by 21st Century Fox for £11.7 billion.[/R]

In London trading, FTSE 100 index rose 42.35 or 0.6% to 6,992.87 and in Frankfurt the DAX index advanced 103.48 or 0.9% to 11,349.98.

In Paris, CAC 40 index jumped 48.17 or 1% to 4,817.41.

Banca Monte dei Paschi di Siena SpA, the privately held Italy-based banking services provider plans to launch a debt-to-equity swap and a share sale in a last-ditch effort to raise funds privately and avoid a state rescue.

The swap offer will increased to €4.3 billion, including so-called FRESH 2008 hybrid bond, the bank said in a statement on Wednesday. The bank plans to raise about €5 billion by the end of the year.

However, 35% of the share sale will be offered to retail investors and 65% to institutional investors.

Just Eat Plc rose 0.2% to 599 pence after the U.K.-based online food ordering platform agreed to acquire hungryhouse Holdings Limited from Delivery Hero Holding GmbH for about £200 million and £40 million in cash may payable before the transaction completed in the next year.

Separately, today the food ordering platform operator agreed to acquire Canada-based SkipTheDishes for about C$110 million or £66.1 million.

Deutsche Lufthansa AG increased 0.2% to €12.65 after Germany-based passenger and cargo airline said it intends to acquire remaining 55% stake in SN Airholding, the parent company of Brussels Airlines for €2.6 million and will be integrated into its budget subsidiary Eurowings Group in 2018.

The transaction is expected to close by the beginning of January 2017.

Petrofac Limited declined 2.9% to 884 pence after the Jersey-based oil and gas service provider forecasted net profit in the year ending in December of about $410 million and in-line with its previous guidance.

RPC Group Plc slipped 0.3% to 1,050 pence after the U.K.-based plastic products producer said its plans to acquire privately held European storage solutions company ESE World B.V. for about €262.5 million or $274.84 million.

Sky Plc fell 0.3% to 981 pence after the U.K.-based pay television and home communications services provider agreed to be acquire by the U.S.-based 21st Century Fox for £11.7 billion. The deal values the pay-TV broadcaster at £18.5 billion or $23.4 billion in an all-cash.

“We are excited to bring Sky fully into 21st Century Fox,” and “Partial ownership of Sky was not natural end for us. Fully combining the businesses is a clear logical,” said 21st Century Fox executive chairman Lachlan Murdoch.

The deal is likely to be completed by the end of 2017.