Bayer Asked to Divest $9 B Assets, Vivendi Loses Soccer Broadcasting Rights

Sarla Buch
30 May, 2018
New York City

U.S. antitrust regulators asked Bayer to sell $9 billion of assets as a part of the deal to clear Monsanto acquisition. China controlled private equity fund won French soccer broadcasting rights.

[R]4:00 PM Frankfurt – U.S. antitrust regulators asked Bayer to sell $9 billion of assets as a part of the deal to clear Monsanto acquisition. China controlled private equity fund won French soccer broadcasting rights.[/R]

In London trading, FTSE 100 index advanced 31.18 or 0.4% to 7,665.10 and in Frankfurt the DAX index increased 52.50 or 0.4% to 12,717.96.

In Paris, CAC 40 index slumped 31.38 or 0.6% to 5,405.06.

Brain Biotechnology Research and Information Network AG dropped 2.3% to €21 after Germany-based industrial biotechnology provider said revenues in the first-half ending in March declined 7.5% from a year ago to €12.3 million.

Net loss in the period narrowed to €4.7 million from €5.9 million in a year ago period and diluted earnings per share slumped to €0.26 from €0.36.

Revenue growth in the BioIndustrial segment jumped 4.4% but in BioScience business declined 18.4%.

The biotechnology provider forecasted fiscal 2018 revenue growth in “double-digit” despite revenues declined in the first-half.

B&M European Value Retail SA jumped 3.9% to 387.60 pence after the general merchandise retailer reported revenues in the year ending in March soared 22.4% from a year ago to £3 billion.

Net income in the year surged 30.1% to £185.9 million from £142.9 million in a year ago period and diluted earnings per share advanced to 18.6 pence from 14.3 pence.

The retailer said gross margin in the year decreased 86 basis points to 33.9% from 34.8% in the same period a year ago.

Bayer AG soared 4.1% to €102.90 after Germany-based life sciences after the U.S. antitrust authorities approved its deal with Monsanto.

The regulator asked the company to divest its businesses and assets worth $9 billion ahead of its proposed $66 billion acquisition of Monsanto Inc. BASF has agreed to acquire these assets.

Under the terms, Bayer was required to divest its cotton, canola, soybean, and vegetable seed businesses which compete directly with Monsanto, including Bayer’s Liberty herbicide business.

""We commend the parties for working with the Antitrust Division to resolve our concerns on behalf of American consumers,"" said Assistant Attorney General Makan Delrahim of the U.S. Antitrust Division.

Vivendi SA declined 3.7% to €21.42 after France-based media conglomerate and TV broadcaster lost crucial soccer broadcasting auction rights to air French Ligue 1 soccer matches after three-decades to Chinese private equity fund Orient Hontai.