Accor to Buy Australia Based Mantra, Lufthansa to Acquire Air Berlin Assets

Sarla Buch
12 Oct, 2017
New York City

Accor agreed to acquire Australia-based rival Mantra for

[R]4:00 PM Frankfurt – Accor agreed to acquire Australia-based rival Mantra for €0.9 billion. U.K. regualtor provisionally approved Hungryhouse acquisition by Just Eat. Deutsche Lufthansa agreed to acquire most of the assets of the insolvent carrier Air Berlin. Sky reported better-than-expected first quarter results.[/R]

In London trading, FTSE 100 index increased 23.65 or 0.3% to 7,557.51 and in Frankfurt the DAX index rose 12.22 to 12,982.90.

In Paris, CAC 40 index slid 4.79 to 5,357.62.

Accor SA fell 0.4% to €43.24 after France-based hotel operator agreed to acquire Australia-based rival Mantra Group Ltd for A$3.96 per share in cash or €0.9 billion or A$1.18 billion.

The transaction is expected to close by the end of the first-quarter 2018.

Just Eat Plc soared 4.8% to 736.50 pence after the U.K. Competition and Markets Authority today provisionally cleared acquisition of the rival Hungryhouse for about £200 million by the online food delivery services provider.

Deutsche Lufthansa AG jumped 2.6% to €45.73 after Germany-based airline’s chief executive officer Carsten Spohr said that the airline agreed to acquire large parts of the insolvent carrier Air Berlin for about €210 million or $248.72 million.

Lufthansa said it may buy 81 aircraft and hire 3,000 employees of Air Berlin with an investment of €1.5 billion or $1.78 billion.

Sampo Oyj slid 0.2% to €45.73 after Reuter said Finland-based investment services provider agreed to acquire 7.6% stake in Sweden-based financial services provider Nordax.

Nordax Group AB stock jumped 8.5% to 48.40 Swedish kronor.

Sky Plc gained 1.8% to 930.35 after the U.K.-based broadcasting services provider reported total revenues in the first-quarter ending in September jumped 5% from a year ago to £3.3 billion and operating profit soared 11% to £582 million from a year ago period.