BBA and Gama in Aviation Deal, LSE to Sell Derivative Unit

Sarla Buch
03 Jan, 2017
New York City

BBA Aviation plans to merge its U.S. aircraft management and charter business with Gama Aviation. Dassault Aviation reduced its share capital by 9.6%. LSE agreed to sell its derivative unit to the Euronext for

[R]4:00 PM Frankfurt – BBA Aviation plans to merge its U.S. aircraft management and charter business with Gama Aviation. Dassault Aviation reduced its share capital by 9.6%. LSE agreed to sell its derivative unit to the Euronext for £510 million. TVH raise its bid for Lavendo.[/R]

In London trading, FTSE 100 index jumped 38.07 or 0.5% to 7,180.90 and in Frankfurt the DAX index edged down 14.71 to 11,583.40.

In Paris, CAC 40 index increased 26.80 or 0.6% to 4,909.18.

BBA Aviation Plc gained 0.7% to 285.20 pence after the aviation services provider said its plans to merge its U.S. aircraft management and charter business with domestic London-listed Gama Aviation Plc.

Gama Aviation said the deal will not impact earnings in 2017 and 2018.

Dassault Aviation SA rose 0.4% to €1,077.70 after France-based civil and military aviation group today reported that it reduced its share capital by 9.6% that it bought from Airbus Group on March 25, 2015 and June 10, 2016, allocate to cancelation of 871,753 shares.

HERE, the digital map maker was in focus after German Federal Cartel Office said the U.S.-based chip maker Intel Corporation intends to buy a stake in the Germany-based map maker owned by Daimler AG, BMW AG and Volkswagen AG''s Audi AG unit.

Last week, HERE said internet services group Tencent Holdings Ltd, NavInfo Co and Singapore-based GIC Investment to acquire joint stake of 10% for the undisclosed financial terms.

London Stock Exchange Group Plc fell 0.4% to 2,903 after the U.K.-based stock exchanges operator agreed to sell its France-based derivative clearing business LCH SA to the Netherlands-based exchange operator Euronext NV for about £510 million or $533.9 million.

LSE plans to use the money raised for general corporate purposes and seeks to win regulatory approval for proposed merger with Deutsche Boerse.

Euronext NV stock soared 7.5% to €41.90.

TVH Group NV, the Belgium-based industrial equipment supplier said that it had raise its offer for the U.K.-based Lavendon Group Plc to 261 pence per share from the previous offer of 251 pence or £444 million or $545 million.

TVH said offer of 261 pence per share is, a penny a share more than the last bid made by Loxam.

The industrial equipment supplier agreed to buy 10 million shares of Lavendon at new offer of 261 pence per share from Unicorn Asset Management Ltd, and increase its stake to 20% stake or about 34.6 million shares.

Lavendon Group Plc stock advanced 1.1% to 267 pence.