Iran Ramps Up Aircraft Purchases, Axa Sells Bluefin to Marsh

Sarla Buch
02 Jan, 2017
New York City

Airbus and Iran are expected to sign a contract next week for 20 ATR 72-600 short-haul passenger plane. AXA completed the sale of Bluefin at a much reduced price than originally estimated for

[R]4:00 PM Frankfurt – Airbus and Iran are expected to sign a contract next week for 20 ATR 72-600 short-haul passenger plane. AXA completed the sale of Bluefin at a much reduced price than originally estimated for £82 million to domestic rival Marsh.[/R]

In Frankfurt the DAX index increased 98.50 or 0.9% to 11,579.85 and in Paris, CAC 40 index advanced 26.88 or 0.6% to 4,889.18.

Airbus Group SE gained 0.3% to €63.04 and the Netherland-based aircrafts maker’s subsidiary ATR and Iranian government may sign a contract next week to buy 20 ATR 72-600 short-haul passenger plane worth $400 million.

Iran recently finalized multi-million dollar deals with Boeing and Airbus.

""Representatives of ATR will come to Tehran this Wednesday to have a final round of talks,"" in an interview deputy transport minister Asghar Fakhrieh-Kashan said.

Alfa Laval AB jumped 2% to 153.80 Swedish kronor after Sweden-based heat exchangers maker secured order to supply compact heat exchangers for 150 million kronor to a natural gas plant in the Middle East with delivery scheduled of 2017 and 2018.

Axa SA increased 0.8% to €24.18 after France-based life, property and casualty insurer completed the sale of Bluefin Insurance Group Ltd, its commercial broker in the U.K. to domestic rival Marsh for about £82 million or $86.3 million.

In November, Axa had agreed to sell its unit Bluefin for £295 million but transaction price was much smaller the originally estimated.

Renova Energia SA soared 5.3% to 6.32 and Brazil-based renewable power producer is in talks to sell its wind farm Alto Sertao II to the Brazilian unit of the U.S.-based AES Corp for 600 million real to 700 million real or $214 million.