Accor in $920 M Deal with Mantra, CaixaBank Shifts HQ to Valencia

Sarla Buch
09 Oct, 2017
New York City

Accor offered to acquire Australia-based rival Mantra. Air Berlin may be forced to ground all flights by October if its current negotiation with EasyJet fails. Bpost agreed to buy the U.S.-based Radial for $820 million. Millennium & Copthorne Hotels received bid of

[R]4:00 PM Frankfurt – Accor offered to acquire Australia-based rival Mantra. Air Berlin may be forced to ground all flights by October if its current negotiation with EasyJet fails. Bpost agreed to buy the U.S.-based Radial for $820 million. Millennium & Copthorne Hotels received bid of £1.8 billion.[/R]

In London trading, FTSE 100 index fell 22.59 or 0.3% to 7,500.15 and in Frankfurt the DAX index edged up 7.32 to 12,963.38.

In Paris, CAC 40 index edged down 2.51 to 5,357.38.

Accor SA gained 0.8% to €0.224 after France-based hotel operator offered Australia-based rival Mantra Group Ltd about A$3.96 per share or A$1.18 billion or $920 million.

Mantra Group Ltd stock in Sydney trading soared 16.4% to A$3.76.

Air Berlin Plc tumbled 17% to €0.224 after the insolvent Germany-based airliner’s negotiation with the British easyJet may at risk as it likely to offer €50 million.

However, conflict also may arise with Lufthansa on landing rights in Dusseldorf and Berlin''s Tegel airport.

The bankrupt German airliner had to ground all of its flights by the end of this month, if the airline fails to find a buyer.1

Bpost SA, formerly Bpost NV declined 3.4% to €23.94 after Belgium government-owned postal services provider agreed to acquire the U.S.-based e-commerce logistics service provider Radial Inc for about $820 million including debt.

CaixaBank SA jumped 2.3% to €4.18 after Spain-based banking and financial services provider’s board unanimously agreed to move its registered office to Valencia in light of the current political and social situation in Catalonia.

Millennium & Copthorne Hotels Plc surged 22.5% to 557.50 pence after the Singapore-based City Developments offered to acquire the remaining stake in the U.K.-based hotel services provider for about £1.8 billion or $2.4 billion.