ABB Buys GE Solutions for $2.6 B, Unilever in

Sarla Buch
25 Sep, 2017
New York City

ABB agreed to buy GE solutions unit for $2.6 billion. Aldi reported record sales and continues to open new stores. Imagination Technologies agreed to be acquired for

[R]4:00 PM Frankfurt – ABB agreed to buy GE solutions unit for $2.6 billion. Aldi reported record sales and continues to open new stores. Imagination Technologies agreed to be acquired for £550 million. Nets received €5.3 billion bid from Hellman & Friedman. Unilever buys Carver Korea in €2.27 billion.[/R]

In London trading, FTSE 100 index rose 17.17 or 0.3% to 7,282.07 and in Frankfurt the DAX index edged down 1.98 to 12,598.05.

In Paris, CAC 40 index increased 16.65 or 0.3% to 5,283.94.

ABB Ltd gained 0.6% to 24.07 Swiss francs after Switzerland-based industrial conglomerate agreed to acquire GE Industrial Solutions for about $2.6 billion.

The transaction is expected to close in the first-half of 2018.

Aldi Stores Ltd, the Germany-based privately held discount supermarket chains reported sales in the year ending in December 2016 soared 13.5% from a year ago to £8.7 billion but operating profit declined 17% to £211.3 million for the third consecutive year.

The privately-owned business said drop in profit was driven by the investment in new store openings and price reductions and in 2018 the retailer plans to open 70 new stores in the U.K. as part of its plans to open 1,000 stores by 2022.

“We’re really proud of our track record and commitment to Britain from the lowest prices and best service for our shoppers,” said chief executive officer of Aldi UK and Ireland Matthew Barnes.

Imagination Technologies Group Plc surged 33.1% to 172.44 pence after the U.K.-based graphics, video processor designer agreed to be acquired by China-backed private equity firm Canyon Bridge Capital Partners for 182 pence per share or about £550 million or $742.5 million.

Nets A/S, the Denmark-based digital payment services provider said today it received takeover offer from newly formed company Evergood 5 A/S controlled by funds managed by the U.S.-based Hellman & Friedman LLC for about 33.1 billion kronor or $5.3 billion.

SAP SE rose 0.2% to €92.31 after Germany-based software and service provider today agreed to acquire the U.S.-based privately held customer identity software developer Gigya Inc for about $350 million.

The transaction is expected to close in the fourth-quarter of this year.

Unilever NV increased 0.5% to €49.39 after the Netherland-based consumer goods maker agreed to acquire Korea-based fast-growing cosmetics maker Carver Korea for about €2.27 billion or £1.99 billion from Bain Capital Private Equity and Goldman Sachs.