European Press Roundup: Blackhall Studios Expands to U.K., Greek Gas Network Attracts Suitors

In Europe today, Puma beat its earnings guidance for 2019 but warned that 1Q will be impacted by the coronavirus, while drug maker Sanofi said it will work on a vaccine against the new virus. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

U.S. film company Blackhall Studios plans to invest GBP150 million in a new studio in Berkshire, south-east England, and create up to 3,000 new jobs. Atlanta-based Blackhall said clients like Disney, Universal and Sony had asked the company to expand into the U.K. -Sky News

Italy's gas infrastructure group Snam is considering a bid along with Belgium's Fluxys and Spain's Enagas to acquire Greece's state-controlled gas distribution network Depa Infrastracture. Gas distributor Italgas is also interested. -Il Sole 24 Ore

A total of 140 companies have moved to the Netherlands from the U.K. since the Brexit referendum in 2016, including 78 last year, according to the Netherlands Foreign Investment Agency. The agency is in talks with a further 425 businesses that are waiting for clarity on the U.K.'s future relationship with the EU before making a decision. -The Times of London

French auto supplier Plastic Omnium said it achieved all its financial objectives despite a 16% fall in its 2019 operating profit to EUR511 million amid a deteriorating outlook for the global automotive industry. The company said it forecasts an increase in operating profit for 2020 thanks to "an enhanced cost reduction program" targeting at least EUR200 million in free cash flow. -Le Figaro

French renewable energy company Neoen has reported growing revenue in 2019, for its first full year on the stock exchange. Results were mainly driven by its solar business. -Les Echos

Politicians in Germany have reprimanded environmental group Gruene Liga for its resistance against Tesla's planned factory in Brandenburg after it complained about forest clearing for the site. "Turning a pinewood plantation into a battlefield is absurd. That has nothing to do with nature conservation," Oliver Krischer said, member of the Green Party. Deforestation at the site remains halted while a court deals with the complaints. -Tagesspiegel

Osram Licht is stepping up its cost-savings, planning to reduce costs by EUR300 million by 2022. The lighting technology company previously said it was targeting cost-savings of EUR220 million. -Handelsblatt

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(END) Dow Jones Newswires

February 19, 2020 07:19 ET (12:19 GMT)

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