Bayer Sells Stake to Singapore, Intesa SanPaolo Sells Debt Collection Unit

Sarla Buch
17 Apr, 2018
New York City

Bayer sell 3.6% stake to Singapore state owned Temasek. Breedon Group agreed to acquire Ireland-based rival Lagan Group. Casino Guichard sales lifted by Latin America. Intrum Justitia and Intesa SanPaolo in

[R]4:00 PM Frankfurt – Bayer sell 3.6% stake to Singapore state owned Temasek. Breedon Group agreed to acquire Ireland-based rival Lagan Group. Casino Guichard sales lifted by Latin America. Intrum Justitia and Intesa SanPaolo in €3.6 billion deal.[/R]

In London trading, FTSE 100 index rose 27.37 or 0.4% to 7,225.80 and in Frankfurt the DAX index jumped 144.21 or 1.2$ to 12,534.72.

In Paris, CAC 40 index increased 36.88 or 0.7% to 5,349.36.

Bayer AG advanced 1.9% to €99.82 after Germany-based pharmaceutical and life sciences products maker agreed to sell 3.6% stake to Singapore state owned sovereign wealth fund operator Temasek Holding for about €3 billion or $3.7 billion.

""This investment affirms our business strategy including the proposed acquisition of Monsanto and strong growth prospects,"" said chief executive officer Werner Baumann.

Breedon Group Plc surged 7% to £83.80 after the U.K.-based construction materials provider signed conditional agreement to acquire Ireland-based rival Lagan Group Holdings Limited for about £455 million in cash- and debt-free basis.

Casino Guichard Perrachon SA rose 1.3% to €42.51 after France-based discount stores operator reported sales in the first-quarter ending in March jumped 3.1% from a year ago to €8.9 billion.

The retailer said sales in Latin America soared 4.9% to €3.9 billion and domestic sales increased 1.6% to €5.02 billion.

Intrum Justitia AB soared 6.6% to 234 Swedish kronor after Sweden-based credit management services provider confirmed a binding offer to buy the debt collection business of Italy-based bank Intesa SanPaolo for about €3.6 billion.

Intrum will transfer €10.8 billion or $13.35 billion in the bad loans and be held by a securitization special purpose vehicle.

O''key Group SA, Russia-based hypermarkets and supermarkets operator reported group revenues in the first-quarter ending in March declined 6.9% from a year ago to 39.8 billion rubles and comparable revenues in namesake brand “O''key” dropped 1.6%.

The retailer operates under mainly two formats; hypermarkets, under ‘O`KEY’ brand and discounters, under the ‘DA!’ brand and as of March 31, 2018 the retailer operated 145 stores in Russia.