Thales to Buy Gemalto for

Sarla Buch
18 Dec, 2017
New York City

The European Commission said it plans to investigate preferential tax for Ikea retail operation. Norway- based Statoil agreed to buy 25% stake in Brazil-based Roncador. Thales agreed to acquire Gemalto for

[R]4:00 PM Frankfurt – The European Commission said it plans to investigate preferential tax for Ikea retail operation. Norway- based Statoil agreed to buy 25% stake in Brazil-based Roncador. Thales agreed to acquire Gemalto for €4.8 billion. Vonovia agreed to acquire Austria-based rival Buwog for €5.2 billion.[/R]

In London trading, FTSE 100 index increased 24.21 or 0.3% to 7,515.13 and in Frankfurt the DAX index soared 208.20 or 1.6% to 13,309.86.

In Paris, CAC 40 index jumped 66.17 or 1.2% to 5,415.93.

Inter Ikea Systems B.V, the European Commission plans to investigate the Netherlands-based furniture retailer for unfair tax advantages at its European operations.

Statoil gained 0.5% to 169.80 Norwegian krone after Norway-based oil and gas explorer agreed to acquire 25% stake in Brazil-based oilfield services provider Roncador worth about $2.9 billion.

Thales SA surged 8.3% to €93.47 after France-based aerospace and defense product maker agreed to acquire the Netherlands-based chip maker Gemalto NV for €4.8 billion or $5.6 billion, representing 57% premium to the closing price on December 8.

“The acquisition of Gemalto marks a key milestone in the implementation of Thales’s strategy,” said Patrice Caine, chief executive officer of Thales.

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

Vonovia SE increased 1.3% to €41.90 after Germany-based residential real estate developer agreed to acquire Austria-based rival Buwog AG for about €5.2 billion or $6.12 billion in cash.

The German housing association said that shareholders of Buwog will receive €29.05 in cash per share.

""Subject to legal and substantive examination the offer document, we will recommend our shareholders to accept the offer,"" said chief executive officer of Buwog Daniel Riedl.

The transaction is expected to complete in mid-March 2018.

Buwog AG in Vienna stock market soared 17.5% to €28.92.