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.

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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

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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%.

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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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