European Corporate Roundup for Monday
October 14 2019 - 4:45AM
Dow Jones News
BIC Warns on Sales as U.S. Lighters Market Dims
Societe BIC on Friday cut its sales outlook for the year, citing
further deterioration in the U.S. lighters market as well as soft
sales for its stationery goods.
The French company, which makes products including pens,
lighters and razors, said its sales for the year should be flat or
fall up to 2% compared with the year previous. It had previously
expected sales to slightly increase.
BIC stock trades 3.8% lower.
--
Liberty Global to Take Stake in Sunrise Communications in
Switzerland Deal
Liberty Global PLC has agreed to support Sunrise Communications
Group AG's fundraising for its acquisition of UPC Switzerland with
a commitment of up to 500 million Swiss francs ($501.3 million),
the companies said.
Liberty Global, which owns UPC Switzerland, has agreed to
support the Swiss telecommunications company's CHF2.8 billion
rights issue through the purchase of tradeable subscription rights
at market prices and of newly issued shares.
Sunrise Communications trades roughly flat
--
Sophos Group to Go Private in $3.82 Bln Sale to Thoma Bravo
Sophos Group PLC has agreed to be bought by Surf Buyer Ltd., an
entity owned by funds managed by private-equity investor Thoma
Bravo LLC, in a deal that values the U.K. cybersecurity group at
$3.82 billion, the companies said.
Under the acquisition, each Sophos shareholder will be entitled
to receive $7.40 in cash, or 583 pence, for each share held, the
companies said. This represents a 37% premium to Sophos's closing
price on Friday.
Sophos Group shares rise 36.8%.
--
Total to Buy Stake In India's Adani Gas
Total SA has agreed to acquire a 37.4% stake in India's Adani
Gas Ltd. as the French oil-and-gas major looks to expand its
footprint in the energy-hungry South Asian nation.
India's natural-gas market has substantial growth potential as
New Delhi aims to diversify its energy mix and develop the domestic
use of gas in cities and as fuel for vehicles as part of a broader
goal to cut emissions, Total said. India has set a target of
increasing the share of natural gas in its energy mix to 15% by
2030 from 7% at present.
Total stock trades 1.4% lower
(END) Dow Jones Newswires
October 14, 2019 04:30 ET (08:30 GMT)
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