Russian Investor Targets Spanish Retailer DIA, Metro Shake Up Lifts Stock

Sarla Buch
27 Aug, 2018
New York City

Russian investor Mikhail Fridman is said to be in preliminary talks to acquire Spanish food retailer DIA. Evotec signed a partnership agreement with Centogene for drug discovery project. Long awaited Metro stake sale raises investor hopes that the laggard retailer will sharpen business focus.

[R]4:00 PM Frankfurt – Russian investor Mikhail Fridman is said to be in preliminary talks to acquire Spanish food retailer DIA. Evotec signed a partnership agreement with Centogene for drug discovery project. Long awaited Metro stake sale raises investor hopes that the laggard retailer will sharpen business focus.[/R]

In Frankfurt the DAX index jumped 138.25 or 1.1% to 12,532.77 and in Paris, CAC 40 index increased 51.89 or 0.9% to 5,484.38.

Markets in London were closed to mark the summer bank holiday.

Bijou Brigitte modische Accessoires AG slipped 0.5% to €38.65 after Germany-based women jewelry and accessories maker said revenues in the first-half ending in June dropped 2.1% from a year ago to €145.6 million.

Net income in the period declined 4.9% to €3.9 million from €4.1 million in the same period a year ago and diluted earnings per share fell to €0.50 from €0.52.

Distribuidora Inter de Alimentacion soared 5.2% to €2.24 after Reuter said that the consortium led by Russian investor Mikhail Fridman is in preliminary talk to bid for Spanish food, household and personal care products retailer.

Evotec jumped 2.6% to €22.33 after Germany-based rare genetic diseases drugs maker signed a strategic partnership agreement with the domestic rival Centogene AG to develop a platform for testing small molecules in rare hereditary metabolic diseases.

Metro AG surged 11.3% to €13.23 after Germany-based diversified retailer and wholesaler’s key investor and family owned investment group Haniel agreed to sell 7.3% stake to investor Patrik Tkac for undisclosed financial terms.

Separately today, the consumer electronics retailer Ceconomy, separated from Metro said that it plans to sell its 10% stake in Metro to EP Investment led by Daniel Kretinsky.